Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 55

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 55
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 may depend on such participant’s particular situation,
each participant should consult the participant’s tax adviser regarding the federal, state, local, and other tax consequences of
the grant or exercise of a purchase right or the sale or other disposition of Shares acquired under the 2022 Amended Plan. The 2022 Amended
Plan is not qualified under the provisions of Section 401(a) of the Code and is not subject to any of the provisions of the Employee
Retirement Income Security Act of 1974, as amended.

A Participant
who receives an Option or SAR will not have taxable income upon the grant of the Option or SAR. For Non-ISOs and SARs, the Participant
will recognize ordinary income upon exercise in an amount equal to the excess of the fair market value of the Shares over the exercise
price — the appreciation value — on the date of exercise. Any additional
gain or loss recognized upon any later disposition of the Shares generally will be long-term or short-term capital gain or loss, depending
on whether the Shares are held for more than one year.

The purchase
of shares upon exercise of an incentive stock option will not result in any taxable income to the participant, except for purposes of
the alternative minimum tax. Gain or loss recognized by the participant

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on a later sale or other disposition of the shares will be capital
gain or loss and/or ordinary income depending upon whether the participant holds the shares transferred upon exercise for a specified
period. If the shares are held for the specified period, any gain generally will be taxed at long-term capital-gain rates. If the shares
are not held for the specified period, generally any gain up to the excess of the fair market value of the shares on the date of exercise
over the exercise price will be treated as ordinary income. Any additional gain generally will be taxable at long-term or short-term capital-gain
rates, depending on whether the participant held the shares for more than one year after the exercise date.

A participant
who receives restricted stock will not have taxable income until vesting unless the participant timely files an election under Section 83(b)
of the Internal Revenue Code to be taxed at the time of grant. The participant will recognize ordinary income equal to the fair market
value of the shares at the time of vesting less the amount paid for such shares (if any) if the participant does not make such election.
Any additional gain or loss recognized upon any later disposition of the shares generally will be long-term or short