Company: GLPI
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001575965-25-000017
Chunk: 51

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 recognized over the grants' remaining weighted average vesting period of 2.76 years. For the three months ended March 31, 2025, the Company recognized $2.8 million of compensation expense associated with these awards within general and administrative expenses on the condensed consolidated statements of income and noncontrolling interests on the Company's condensed consolidated balance sheet.  The following table contains information on time based LTIP award activity for the three months ended March 31, 2025:Number of Time-Based LTIP AwardsOutstanding at December 31, 2024— Granted85,000 Released— Canceled — Outstanding at March 31, 202585,000 Performance-based LTIP awards were issued in the three month period ended March 31, 2025 and have a three-year cliff vesting with the amount of LTIP awards vesting at the end of the three-year period determined based upon the Company’s performance as measured against its peers.  More specifically, the percentage of shares vesting at the end of the measurement period will be based on the Company’s three-year total shareholder return measured against the three-year total shareholder return of the companies included in the MSCI US REIT index and the Company's stock performance ranking among a group of triple-net REIT peer companies. As of March 31, 2025, there was $8.6 million of total unrecognized compensation cost, which will be recognized over the performance-based LTIP awards' remaining weighted average vesting period of 2.76 years.  For the three months ended March 31, 2025, the Company recognized $0.8 million of compensation expense associated with these awards within general and administrative expenses on the condensed consolidated statements of income and noncontrolling interests on the Company's condensed consolidated balance sheet.

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The following table contains information on performance-based LTIP award activity for the three months ended March 31, 2025:Number of                Performance-Based LTIP AwardsOutstanding at December 31, 2024— Granted340,000 Released— Canceled — Outstanding at March 31, 2025340,000 

14.    Supplemental Disclosures of Cash Flow Information and Noncash Activities

Supplemental disclosures of cash flow information are as follows: Three Months Ended March 31, 20252024(in thousands)Cash paid for interest$125,872 $79,034 The increase in cash paid for interest was due to