First Industrial Realty Trust Appoints Frank E. Schmitz to Board of Directors

Core Viewpoint - First Industrial Realty Trust has appointed Frank E. Schmitz to its Board of Directors, effective June 1, 2026, and announced a $250 million share repurchase authorization as part of its capital allocation strategy [1][2][5]. Board Appointment - Frank E. Schmitz will join the Board, increasing its total to seven directors, with six being independent [1]. - Schmitz brings nearly four decades of global real estate investment and capital markets experience, which will be beneficial for the company's portfolio strategy and investment trends [2][3]. Share Repurchase Program - The Board has authorized a new share repurchase program allowing the company to repurchase up to $250 million of common stock, reflecting confidence in its portfolio and financial position [5][6]. - Repurchases will be made opportunistically based on market conditions and the company's share price, with no expiration date for the authorization [6]. Investor Engagement - First Industrial plans to host a series of market tours for investors and analysts in 2026, with further details to be announced [7]. Company Overview - First Industrial Realty Trust is a leading owner, operator, developer, and acquirer of logistics properties in the U.S., managing approximately 71.6 million square feet of industrial space as of December 31, 2025 [8].