普利茅斯工业房地产信托 2024年度报告

(Mark One)☑ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year endedDecember 31, 2024or☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission file number001-38106PLYMOUTH INDUSTRIAL REIT, INC.(Exact name of registrant in its charter)Maryland27-5466153(State or other jurisdiction of incorporation of organization)(I.R.S. Employer Identification Number)20 Custom House Street,11thFloorBoston,MA02110(Address of principal executive offices)Registrant’s telephone number, including area code: (617)340-3814Securities registered pursuant to Section 12(b) of the Act:Title of Each ClassTrading SymbolName of Each Exchangeon Which RegisteredCommon Stock, par value $0.01 per sharePLYMNew York Stock ExchangeSecurities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes☐No☑ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or 15(d) of the Act.Yes☐No☑ Indicate by check mark whether the registrant (1)`has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports) and (2)has been subject tosuch filing requirements for the past 90days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required tosubmit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐ Large accelerated filer☑ Emerginggrowth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firmthat prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act)Yes☐No☑ The aggregate market value of the registrant’s common stock held by non-affiliates of the registrant (based on the closing price reported on theNYSE on June 30, 2024) was $954,174,904. Shares held by all executive officers and directors of the registrant have been excluded from the foregoing calculation because such persons maybe deemed to be affiliates of the registrant. The number of shares of the registrant’s common stock outstanding as of February 27, 2025 was45,550,898. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement relating to its 2025 Annual Meeting of Stockholders are incorporated by reference intoPart III of this Annual Report on Form 10-K. The registrant expects to file its Definitive Proxy Statement with the Securities and ExchangeCommission within 120 days after December 31, 2024. Plymouth Industrial REIT, Inc. Table of Contents ITEMPAGE 1.Business31A.Risk Factors61B.Unresolved Staff Comments281C.Cybersecurity282.Properties303.Legal Proceedings344.Mine Safety Disclosures34 5.Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of EquitySecurities356.Reserved367.Management’s Discussion and Analysis of Financial Condition and Results of Operations367A.Quantitative and Qualitative Disclosure about Market Risk488.Consolidated Financial Statements and Supplementary Data489.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure499A.Controls and Procedures499B.Other Informati