LXP Industrial Trust (LXP) Proxy filing summary

Executive summary

• Achieved a total shareholder return of 29.8% in 2025, driven by leasing, capital recycling, and balance sheet improvements.

• Net income was $0.46 per diluted share; Adjusted Company FFO reached $3.15 per diluted share.

• Stabilized portfolio occupancy rose to 97.1%, with 4.9 million sq. ft. of leasing activity and significant rent increases on renewals.

• Disposed of 11 warehouse facilities for $389.1M, exited five non-target markets, and reduced net debt to Adjusted EBITDA to 4.9x.

• Board and management focused on Class A industrial assets in 12 Sunbelt and Midwest markets, with a portfolio averaging 9.9 years in age.

Voting matters and shareholder proposals

• Shareholders will vote to elect eight trustees, approve executive compensation (say-on-pay), and ratify Deloitte & Touche LLP as auditor for 2026.

• Board unanimously recommends voting FOR all proposals.

• Proxy access and shareholder rights to amend bylaws, call special meetings, and act by written or electronic consent are in place.

Board of directors and corporate governance

• Board is 87.5% independent, with three new trustees added since 2021 and an average tenure of 10 years.

• Annual trustee elections, majority vote standard, and mandatory resignation policy for trustees over 75.

• Committees (Audit & Risk, Compensation, Nominating & Corporate Responsibility) are fully independent.

• Lead Independent Trustee role established; robust self-assessment and succession planning processes.