FIRST INDUSTRIAL REALTY TRUST INC 8-K

What Happened First Industrial Realty Trust (filed March 27, 2026; Board action March 25, 2026) announced and ratified the performance criteria for its 2026 Employee Bonus Plan. The plan establishes an incentive bonus pool to grant awards to eligible employees, including the CEO and certain senior executives, based on company performance across three categories: NAREIT funds from operations (FFO) per share, same-store net operating income (SS NOI) growth, and discretionary objectives set by the CEO.

Key Details

• Performance categories and weightings: FFO per share 55%, SS NOI growth 30%, discretionary objectives 15%.
• Payout scale: achievement levels fund each category at 0%, 25%, 50%, 75%, 100% or 125% of the category opportunity; overall plan payout capped at 115%.
• Adjustments: the Compensation Committee may adjust metrics for non-recurring items, unbudgeted investments and dispositions, accounting policy changes, and certain extraordinary items.
• Awards will be determined using linear interpolation if performance falls between payout levels.

Why It Matters This filing (Item 5.02) informs investors how First Industrial will link executive and employee pay to operational and financial results in 2026. The heavy weighting on FFO per share (55%) emphasizes focus on cash-flow performance, while the overall 115% cap and committee discretion on adjustments set boundaries on potential payouts. Understanding these criteria helps investors assess management incentives and how compensation outcomes may align with company performance.