James Dudley, Executive Vice President and Director of Asset Management at LXP Industrial Trust, filed a Form 4 on November 2, 2026, disclosing the cancellation and cash conversion of 114,856 common and non-vested restricted common shares at $61.20 per share pursuant to a merger agreement.

Key Highlights

  • Reporting person: James Dudley, EVP and Director of Asset Management at LXP Industrial Trust (NASDAQ:LXP)
  • Transaction date: November 2, 2026
  • Shares affected: 114,856 common shares and non-vested restricted common shares disposed of (transaction code D)
  • Cash conversion price: $61.20 per share, received at the Effective Time of the merger
  • Nature of transaction: Shares were cancelled and converted into the right to receive cash under the terms of the Merger Agreement
  • Merger reference: The Merger Agreement is defined and disclosed in the company's Proxy Statement filed with the SEC on September 18, 2026
  • Filing signed: By Joseph S. Bonventre as Attorney-in-Fact on behalf of James Dudley

LXP Industrial Trust Merger Triggers Cash Conversion of Dudley's Holdings

According to the Form 4 filed on November 2, 2026, James Dudley, who serves as EVP and Director of Asset Management at LXP Industrial Trust, reported the disposal of 114,856 shares of LXP Industrial Trust common stock. The filing indicates the shares, which included both common shares and non-vested restricted common shares, were not sold in the open market but were instead cancelled and converted into a cash entitlement as part of a corporate merger transaction.

The filing states that the shares were "cancelled and converted into the right to receive an amount in cash equal to $61.20 per share at the Effective Time in accordance with the terms of the Merger Agreement as defined and disclosed in the Company's Proxy Statement filed with the Securities and Exchange Commission on September 18, 2026." The disposal is recorded with transaction code D, indicating a disposition. No derivative securities transactions were reported in Table II of the filing.

Following the reported transaction, the filing reflects zero remaining directly held securities for the reporting person, consistent with the merger-driven cancellation of all shares at the Effective Time. The Form 4 was signed by Joseph S. Bonventre as Attorney-in-Fact for James Dudley, also dated November 2, 2026.

What Was Disclosed

James Dudley's Form 4 disclosed the cancellation and cash conversion of 114,856 LXP Industrial Trust common and non-vested restricted common shares at $61.20 per share on November 2, 2026, resulting from a merger described in the company's September 18, 2026 Proxy Statement.