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