Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 26

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 26
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 that will not exceed, but may be lower
than, 2.0% of the aggregate gross sales prices of the shares of our common stock issued by us with respect to which such Sales Agent acts as our sales agent under the Sales Agreement. The remaining sales proceeds, after deducting any expenses
payable by us and any transaction fees imposed by any governmental, regulatory, or self-regulatory organization in connection with the sales, will equal our net proceeds for the sale of such shares of common stock. We may also agree with any Sales
Agent, whether acting as our sales agent or as Forward Seller, to sell shares of our common stock other than through ordinary brokers’ transactions on Nasdaq, and for which we may agree to pay such Sales Agent a commission that is customary for
such sales.

Sales through Forward Sellers

From time
to time during the term of the Sales Agreement, and subject to the terms and conditions set forth therein and in any related forward sale agreement we enter into, we may deliver an instruction notice relating to a forward sale to any Forward Seller
and the applicable Forward Purchaser. Upon acceptance by a Forward Seller and the applicable Forward Purchaser of an instruction from us requesting that such Forward Seller execute sales of borrowed shares of our common stock as Forward Seller in
connection with a forward sale agreement, and subject to the terms and conditions of the Sales Agreement and the applicable forward sale agreement, such Forward Purchaser or its affiliate will use commercially reasonable efforts, consistent with its
normal trading and sales practices for similar transactions, to borrow from third parties and sell, through the relevant Forward Seller, all shares of our common stock on such terms to hedge such Forward Purchaser’s or its affiliate’s
exposure under the applicable forward sale agreement. We or the relevant Forward Seller may immediately suspend the offering of our common stock under a forward sale agreement at any time upon proper notice to the other; provided, however, such
suspension shall not affect the parties’ obligations with respect to the delivery of shares of our common stock sold under any forward sale agreement prior to such notice.

The applicable Sales Agent will provide written confirmation to us following the close of trading on Nasdaq on each day on which shares of our common stock
are sold through such Sales Agent, as Forward Seller, under the Sales Agreement. Each confirmation will include the number of shares of our common stock sold on that day, the gross sales prices of the shares of our common stock sold, the aggregate
net proceeds to the applicable Forward Purchaser, the then