Adam D. Portnoy, a director of Industrial Logistics Properties Trust (NASDAQ:ILPT), filed a Form 4 on September 21, 2026, reporting a share disposition on September 17, 2026, related to tax withholding upon a vesting event.

Key Highlights

  • Reporting person: Adam D. Portnoy, listed as a director of Industrial Logistics Properties Trust.
  • Transaction: 10,046 common shares of beneficial interest were disposed of (transaction code F) on September 17, 2026, at a price of $7.75 per share.
  • Transaction purpose: According to the filing, the disposition represents "payment of tax liability by withholding securities incident to the vesting of the security issued in accordance with Rule 16b-3."
  • Direct ownership following transaction: 241,495 common shares of beneficial interest held directly by the reporting person.
  • Indirect ownership: 745,672 common shares held indirectly through ABP Trust, of which Portnoy is described as sole trustee, an officer, and controlling shareholder.
  • Ownership disclaimer: The filing states that Portnoy "disclaims such beneficial ownership except to the extent of his pecuniary interest therein" regarding the ABP Trust shares.

Director Share Withholding and Beneficial Ownership at Industrial Logistics Properties Trust

According to the Form 4 filed with the SEC on September 21, 2026, Adam D. Portnoy reported a single non-derivative transaction involving common shares of beneficial interest in Industrial Logistics Properties Trust, traded on NASDAQ:ILPT. The transaction, dated September 17, 2026, involved the disposal of 10,046 shares at $7.75 per share under transaction code F, which the filing identifies as a tax withholding event tied to a vesting of securities, executed in accordance with Rule 16b-3.

Following the reported transaction, the filing discloses that Portnoy directly holds 241,495 common shares. In addition, the filing reports an indirect holding of 745,672 common shares through ABP Trust. The filing notes that Portnoy serves as the sole trustee, an officer, and the controlling shareholder of ABP Trust, and therefore "may be deemed to be a beneficial owner of these shares," though he disclaims that beneficial ownership except to the extent of his pecuniary interest therein.

No derivative securities transactions were reported in Table II of this filing. Portnoy's address is listed as c/o The RMR Group LLC, Two Newton Pl., 255 Wash. St., Ste. 300, Newton, Massachusetts 02458. The Form 4 was signed by Adam D. Portnoy on September 21, 2026.

What Was Disclosed

The filing reports the withholding of 10,046 common shares at $7.75 per share on September 17, 2026, for tax purposes upon a vesting event, leaving Portnoy with 241,495 directly held shares and 745,672 indirectly held shares through ABP Trust.