0001645873-21-000117.txt : 20210527 0001645873-21-000117.hdr.sgml : 20210527 20210527160640 ACCESSION NUMBER: 0001645873-21-000117 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20210527 FILED AS OF DATE: 20210527 DATE AS OF CHANGE: 20210527 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: WIRTA RAYMOND E CENTRAL INDEX KEY: 0001128145 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55776 FILM NUMBER: 21972666 MAIL ADDRESS: STREET 1: C/O CBRE STREET 2: 2100 MCKINNEY AVENUE, SUITE 1250 CITY: DALLAS STATE: TX ZIP: 75201 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: MODIV INC. CENTRAL INDEX KEY: 0001645873 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 474156046 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 120 NEWPORT CENTER DRIVE CITY: NEWPORT BEACH STATE: CA ZIP: 92660 BUSINESS PHONE: 855-742-4862 MAIL ADDRESS: STREET 1: 120 NEWPORT CENTER DRIVE CITY: NEWPORT BEACH STATE: CA ZIP: 92660 FORMER COMPANY: FORMER CONFORMED NAME: RW HOLDINGS NNN REIT, INC. DATE OF NAME CHANGE: 20170814 FORMER COMPANY: FORMER CONFORMED NAME: Rich Uncles NNN REIT, Inc. DATE OF NAME CHANGE: 20151209 FORMER COMPANY: FORMER CONFORMED NAME: Rich Uncles REIT, Inc. DATE OF NAME CHANGE: 20150623 4 1 wf-form4_162214588108855.xml FORM 4 X0306 4 2021-05-27 0 0001645873 MODIV INC. NONE 0001128145 WIRTA RAYMOND E 120 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660 1 0 0 0 Class M OP Units 0.0 2021-05-27 4 A 0 4103.33 18.28 A Class C Op Units 4103.33 323972.84 D Reporting person purchased 2,462 Class M OP units of Modiv Operating Partnership, LP ("Modiv OP") in a private transaction. These units are convertible into 4,103.33 Class C OP units as described in note 2. Pursuant to the provisions contained in the third amended and restated limited partnership agreement of Modiv OP, a holder of Class M OP units that have been outstanding for at least one year may be converted into Class C OP units, subject to a reduced conversion ratio if converted prior to December 31, 2023. The Class M OP units that are held until December 31, 2023 are convertible at an initial conversion ratio of 1.6667 which may increase if certain performance milestones are achieved. The Class C OP units are convertible into shares of the issuer's Class C common stock at a conversion ratio of 1:1. There is no expiration date in connection with the Class M OP units. Reporting person paid $75,000 for the 2,462 Class M OP units. Therefore, the implied price for the 4,103.33 Class C OP units in this transaction is $18.28 per unit. /s/ RAY WIRTA 2021-05-27