Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 45

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 45
---
 2022 Amended Plan is qualified in its entirety by reference to Appendix B. Capitalized terms used in this section that are not otherwise defined in this section, are defined in Appendix B.

As of the
Record Date, 428,213 common shares remained available for grant under the 2022 Plan and 4,198,859 common shares were subject to outstanding
awards under the 2022 Plan, including 3,080,471 performance-based non-vested shares issued at the maximum award. The 2022 Amended Plan
authorizes the issuance of the sum of (x) the additional 5,000,000 common shares, (y) the common shares remaining available for grant
under the 2022 Plan and (z) any shares subject to outstanding awards under the 2022 Plan.

Other than
the increase in the number of common shares available for issuance thereunder, there are no other changes to the 2022 Plan. If the 2022
Plan Amendment is approved by our shareholders, our Board of Trustees intends to cause the additional common shares that will become available
for issuance to be registered on a Form S-8 registration statement to be filed with the SEC at our expense.

On April
8, 2025, the closing price of our common shares as reported by the New York Stock Exchange was $7.22 per share.

Why You Should Vote for the 2022 Plan Amendment

Our Board
of Trustees believes that awards under the 2022 Amended Plan will focus participants on the objective of creating shareholder value and
promoting our success, as well as further aligning participants’ interests with those of our shareholders and encouraging their
long-term commitment to us.

Our Board
of Trustees believes that the 2022 Plan is an important factor in attracting, retaining and motivating employees, consultants, and trustees
of us and our affiliates. Our compensation links the interest of our employees, consultants, and trustees with those of our shareholders
and motivates our employees as owners of the business.

In determining
whether to approve the 2022 Plan Amendment, the Compensation Committee of our Board of Trustees received input from its independent compensation
consultant. Our Board of Trustees believes that we need the flexibility
to have an increased reserve of common shares, which we refer to in this summary as Shares, available for future equity-based awards.

In setting
the number of the proposed increase in shares issuable under the 2022 Plan Amendment, the Compensation Committee also considered the