Mark Cherone, EVP, CAO and Treasurer of LXP Industrial Trust, filed a Form 4 on November 2, 2026, reporting the disposition of 29,866 common shares converted into cash under a merger agreement.

Key Highlights

  • Reporting person: Mark Cherone, EVP, CAO and Treasurer of LXP Industrial Trust (NASDAQ:LXP)
  • Transaction date: November 2, 2026
  • Shares disposed: 29,866 common shares (including non-vested restricted common shares), coded "D" for disposed
  • Per-share consideration: $61.20, representing the cash amount received per share at the Effective Time under the Merger Agreement
  • Nature of disposition: Shares cancelled and converted into the right to receive cash per terms of the Merger Agreement, as defined in the company's Proxy Statement filed September 18, 2026
  • Resulting direct beneficial ownership: 0 shares reported following the transaction

Cherone's LXP Shares Cancelled at $61.20 in Merger Closing

According to the filing, Mark Cherone reported the disposal of 29,866 common shares of LXP Industrial Trust on November 2, 2026, at a price of $61.20 per share. The shares disposed of included both common shares and non-vested restricted common shares. The transaction code recorded is "D," indicating a disposition of directly held securities.

The filing's footnote 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." Following this transaction, Cherone's reported direct beneficial ownership of common shares stands at zero, as reflected in Table I of the filing.

The Form 4 was signed by Joseph S. Bonventre as Attorney-in-Fact on behalf of Mark Cherone on November 2, 2026. No derivative securities transactions were reported in Table II of the filing.

What Was Disclosed

The filing disclosed that Mark Cherone, EVP, CAO and Treasurer, disposed of 29,866 LXP Industrial Trust common and restricted shares at $61.20 per share on November 2, 2026, as a result of a merger-related cancellation and cash conversion.