First Industrial Realty Trust Inc. (NYSE: FR) said Land & Buildings has withdrawn its director nominee Jonathan Litt from the company's upcoming 2026 annual meeting of stockholders scheduled for April 30, 2026.

The Chicago-based industrial real estate investment trust said Land & Buildings made "misleading statements" about the company's strategy and governance. First Industrial stated it has delivered superior total shareholder returns relative to proxy and industrial peers on one-, three- and five-year periods, according to market data as of March 2, 2026.

First Industrial announced that Frank E. Schmitz will join its board as a new independent director effective June 1, 2026. The company also authorized a $250 million share repurchase program.

The company filed a preliminary proxy statement with the Securities and Exchange Commission on February 27, 2026, in connection with the annual meeting. First Industrial expects to file its definitive proxy statement in due course.

First Industrial owns and has under development approximately 71.6 million square feet of industrial space concentrated in 15 target metropolitan statistical areas as of December 31, 2025. The company operates as a fully integrated owner, operator and developer of logistics real estate.

The company urged stockholders to vote for all of First Industrial's nominees at the annual meeting.