Director Lawrence L. Gray of LXP Industrial Trust filed a statement of changes in beneficial ownership on November 2, 2026, reporting the cancellation and cash conversion of 26,773 common shares held indirectly through a trust at $61.20 per share under the terms of a previously disclosed merger agreement.

Key Highlights

  • Reporting person: Lawrence L. Gray, identified as a director of LXP Industrial Trust (NYSE:LXP).
  • Transaction date: November 2, 2026, with shares disposed of under transaction code D.
  • Shares affected: 26,773 common shares were cancelled and converted into the right to receive cash.
  • Cash consideration: The per-share cash amount was $61.20, as set by the Merger Agreement referenced in the filing.
  • Indirect ownership: The shares were held indirectly by Gray through a trust; he disclaims beneficial ownership except to the extent of his pecuniary interest.
  • Additional transfer: 542 common shares were transferred from direct to indirect ownership since Gray's last filing.

LXP Industrial Trust Director Shares Cancelled in Merger Agreement Cash-Out

According to the filing, Lawrence L. Gray, a director of LXP Industrial Trust, reported the disposition of 26,773 common shares on November 2, 2026. The shares were held indirectly through a trust and were not sold in the open market. Instead, the filing states they "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."

LXP Industrial Trust is a real estate investment trust that, according to its issuer designation in the filing, trades on the New York Stock Exchange under the ticker LXP. The transaction was signed by Joseph S. Bonventre, acting as attorney-in-fact for Gray, on the same date as the transaction. The filing also notes that 542 common shares were transferred from direct to indirect ownership since Gray's prior filing, a separate administrative change also reported in this statement.

Gray's disclaimer of beneficial ownership, as stated in the filing, applies except to the extent of his pecuniary interest in the trust-held shares. No derivative securities were reported in Table II of the filing. The filing was made by one reporting person and does not indicate that any 10b5-1 trading plan governed the transaction.

What Was Disclosed

Director Lawrence L. Gray reported the cancellation and cash conversion of 26,773 indirectly held LXP Industrial Trust common shares at $61.20 per share on November 2, 2026, pursuant to a merger agreement referenced in a proxy statement filed September 18, 2026.