real-estate · late-filing · stock-act
Rep. Daniel Webster Discloses Real Estate Stock Sale 15 Months Late, Avoiding 13% Drop
The Florida Republican sold up to $50,000 of Rexford Industrial Realty in February 2025 but waited 460 days to report it.
2026-06-14 — Daniel Webster · REXR
Key facts
- Rep. Daniel Webster sold between $15,001 and $50,000 of Rexford Industrial Realty (REXR) on February 26, 2025.
- The trade was disclosed on June 1, 2026, representing a 460-day delay that violates the STOCK Act's 45-day deadline.
- Since the sale, REXR shares have declined by 13.25%, meaning the trade avoided a significant loss.
- This was Webster's only stock trade in a 12-month period and his first time ever trading REXR.
Rep. Daniel Webster (R-Fla.) sold shares of Rexford Industrial Realty, Inc. (NYSE: REXR) valued between $15,001 and $50,000 on February 26, 2025. However, the public did not learn of the transaction until June 1, 2026—some 460 days later.
This represents an egregious delay under federal transparency rules. Members of Congress are required by the STOCK Act to disclose trades within 45 days, and disclosed amounts are reported in ranges. Webster’s filing came more than 415 days past that legal deadline, effectively keeping the trade hidden from public scrutiny for over a year.
The timing of the transaction proved highly advantageous. Since the sale, shares of the industrial real estate investment trust (REIT) have declined by 13.25%, falling from a trade price of $40.45 to $35.09. By selling when he did, Webster avoided a notable loss on his position.
The trade occurred shortly after Rexford Industrial released its fourth-quarter and full-year 2024 financial results on February 5, 2025, which authorized a $300 million share repurchase program. Around the same window, corporate insiders also adjusted their stakes. Co-CEO Howard Schwimmer reported gifting 250 shares on February 25, and COO Laura E. Clark received an equity award of 6,134 shares on March 6.
Because Webster rarely trades—this was his only transaction in the preceding 12 months and his first-ever trade of REXR—the sudden sale raises questions. No committee assignments or real estate policy catalysts were identified in Webster's legislative portfolio that would suggest access to non-public information. It remains possible the transaction was a routine portfolio rebalancing or executed by a third-party discretionary manager.
Either way, the extreme reporting delay means the disclosure is of little use to watchdogs or active investors.
Saving thousands of dollars on a stock slide is a solid trade, but waiting 15 months to tell the public is a tough look for transparency.
Sources
- Rexford Industrial Q4 and Full Year 2024 Earnings 8-K — SEC EDGAR
- Howard Schwimmer Form 4 Insider Filing — SEC EDGAR
- Laura E. Clark Form 4 Insider Filing — SEC EDGAR