Form 8-K - Current report

PLYMOUTH INDUSTRIAL REIT, INC.

Date: February 20, 2025

/s/ Jeffrey E. Witherell

Jeffrey E. Witherell

Chief Executive Officer

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

February 19, 2025

Date of Report (Date of earliest event reported)

PLYMOUTH INDUSTRIAL REIT, INC.

(Exact Name of Registrant as Specified in Its Charter)


Maryland	001-38106	27-5466153
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

20 Custom House Street, 11th Floor

Boston, MA 2110

(Address of Principal Executive Offices) (Zip Code)

(617) 340-3814

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	PLYM	New York Stock Exchange

Item 5.02

Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

Plymouth Industrial REIT, Inc. (the “Company”) announced that it has named Anthony Saladino as President and Chief Financial Officer, effective February 19, 2025. Mr. Saladino, age 51, has served as Executive Vice President and Chief Financial Officer since February 2022, having previously held the roles of Chief Accounting Officer and Senior Vice President of Accounting. Prior to joining Plymouth in October 2020, he gained extensive experience leading finance and accounting teams in publicly traded companies, including serving as Chief Accounting Officer for AFIN (now GNL) and NYC REIT from 2017 to 2019 and as Vice President of Finance for The Ryland Group (now Lennar) from 2004 to 2011. He has also held senior financial leadership roles in private real estate portfolio companies, including The High Companies, where he served as Vice President of Finance and Corporate Controller from 2015 to 2017, as well as in other private equity real estate firms as Chief Financial Officer and Managing Partner. Mr. Saladino began his career in public accounting at EY, focusing primarily on publicly traded REITs. He is a CPA and holds an MBA from the University of Chicago, an M.S. in Accounting from the University of Virginia, and a B.S. in Finance from California State University.

In connection with his prior employment with the Company, Mr. Saladino entered into an indemnification agreement with the Company substantially in the same form that the Company’s directors and executive officers have entered, which remains effective and which is filed as Exhibit 10.6 to Amendment No. 6 to the Company’s Registration Statement on Form S-11 (File No. 333-196798), filed with the U.S. Securities and Exchange Commission on May 22, 2017.

Mr. Saladino does not have any family relationships with any current director, executive officer, or person nominated to become a director or executive officer, of the Company, and there are no transactions or proposed transactions to which the Company is a party, or intended to be a party, in which Mr. Saladino has, or will have, a material interest subject to Item 404(a) of Regulation S-K.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits

	Exhibit No.		Description
	99.1		Plymouth Industrial REIT Promotes Anthony Saladino to President

	104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit 99.1

Plymouth Industrial REIT Promotes Anthony Saladino to President

BOSTON—(February 19, 2025) Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced it has promoted Anthony Saladino to President and Chief Financial Officer, effective immediately.

Mr. Saladino has served as Executive Vice President and Chief Financial Officer since February 2022, having previously held the roles of Chief Accounting Officer and Senior Vice President of Accounting. Prior to joining Plymouth in October 2020, he gained extensive experience leading finance and accounting teams in publicly traded companies, including serving as Chief Accounting Officer for AFIN (now GNL) and NYC REIT from 2017 to 2019 and as Vice President of Finance for The Ryland Group (now Lennar) from 2004 to 2011. He has also held senior financial leadership roles in private real estate portfolio companies, including The High Companies, where he served as Vice President of Finance and Corporate Controller from 2015 to 2017, as well as in other private equity real estate firms as Chief Financial Officer and Managing Partner. Mr. Saladino began his career in public accounting at EY, focusing primarily on publicly traded REITs. He is a CPA and holds an MBA from the University of Chicago, an M.S. in Accounting from the University of Virginia, and a B.S. in Finance from California State University.

Jeff Witherell, Chairman and CEO of Plymouth Industrial REIT, noted, “Anthony has proven to be a strategic partner for me at Plymouth through his leadership in enhancing our balance sheet with well- laddered maturities, lowering our borrowing costs, and significantly improving our borrowing capacity. He has also driven improvements in key financial and accounting processes, as well as strengthened our engagement with the investment community. We look forward to the same commitment and dedication he has shown in these areas, resulting in improved capital allocation, asset management, and operations as well.”

About Plymouth

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.

Forward-Looking Statements

This press release includes “forward-looking statements” that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements regarding management's plans, objectives and strategies, as well as statements regarding the timing of the consummation of the transactions, if at all, and the anticipated benefits therefrom, constitute forward-looking statements. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward- looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

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Contacts:

Plymouth Industrial REIT, Inc.

John Wilfong SCR Partners

IR@plymouthreit.com

Cover	Feb. 19, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 19, 2025
Entity File Number	001-38106
Entity Registrant Name	PLYMOUTH INDUSTRIAL REIT, INC.
Entity Central Index Key	0001515816
Entity Tax Identification Number	27-5466153
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	20 Custom House Street
Entity Address, Address Line Two	11th Floor
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	2110
City Area Code	(617)
Local Phone Number	340-3814
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	PLYM
Security Exchange Name	NYSE
Entity Emerging Growth Company	false