Richard P. Molke - Feb 25, 2022 Form 4 Insider Report for MONMOUTH REAL ESTATE INVESTMENT CORP (MNR)

Role: VP of Asset Management
Signature: bcoleridge@mreic.com
Stock symbol: MNR
Transactions as of: Feb 25, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/25/2022, 03:52 PM
Previous filing: Dec 16, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MNR	Common Stock	Disposed to Issuer		-6.2K	-100%		0	Feb 25, 2022	Direct	F1, F2
transaction	MNR	6.125% Series C Cumulative Redeemable Preferred Stock	Disposed to Issuer		-10K	-100%		0	Feb 25, 2022	Direct	F1, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MNR	Option to Purchase Common Stock	Disposed to Issuer		-30K	-100%		0	Feb 25, 2022	Monmouth Real Estate Investment Corporation	30K		Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On February 25, 2022, pursuant to the Agreement and Plan of Merger, dated as of November 5, 2021 and as amended on February 7, 2022 (the "Merger Agreement"), by and among Monmouth Real Estate Investment Corporation ("Monmouth"), Industrial Logistics Properties Trust ("ILPT"), and Maple Delaware Merger Sub LLC ("Merger Sub"), Monmouth merged with and into Merger Sub (the "Merger"), with Merger Sub surviving as a wholly owned subsidiary of ILPT.
F2	At the effective time of the Merger (the "Effective Time"), each share of common stock, par value $0.01 per share, of Monmouth that was issued and outstanding immediately prior to the Effective Time (other than shares owned by Monmouth, ILPT or Merger Sub) was automatically converted into the right to receive $21.00 per share in cash (the "Common Stock Consideration"), without interest and subject to applicable withholding tax.
F3	At the Effective Time, each share of 6.125% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, of Monmouth that was issued and outstanding immediately prior to the Effective Time (other than shares owned by Monmouth, ILPT or Merger Sub) was automatically converted into the right to receive an amount in cash equal to $25.00 plus accumulated and unpaid dividends to, but not including, February 25, 2022.
F4	At the Effective Time, each Monmouth stock option outstanding immediately prior to the Effective Time, whether vested or unvested, became fully vested and was converted into the right to receive the spread between the Common Stock Consideration and the exercise price.