Company: GLPI
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-101728
Chunk: 50

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 50
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 well as qualitative items such as balance sheet management, acquisition targets, corporate social and governance responsibility, shareholder engagement and other strategic objectives. While the annual cash bonus program was designed to incentivize the Company’s management team to achieve specific near-term internal Company goals, the long-term performance equity award program was designed to focus management on the Company’s long-term performance in relation to the broader REIT indices. We believe that having a majority of compensation structured as equity compensation motivates executives to increase the long-term value of the Company by aligning a significant portion of their total compensation with the interests of the Company’s shareholders. Awards have three-year cliff vesting with the number of restricted shares vested at the end of the three-year period determined based on the Company’s performance during such period measured against its peers. More specifically, the percentage of shares vesting at the end of the measurement period is based on the Company’s three-year TSR ranking among the three-year return of the companies included in (1) the MSCI US REIT index, and (2) a triple-netREIT group that includes publicly-traded REITs with revenues primarily derived from triple-netleases. We believe that this long-term performance-based equity incentive program complements the annual cash incentive program by providing the appropriate balance between performance-based cash and performance-based equity awards. In addition to the long-term performance-based equity awards, we also grant service-based awards with long-term vesting that serve as a critical retention tool and are directly correlated with the Company’s share price performance. Awards vest at a rate of 33.33% per year and are generally subject to continued employment. Pay versus Performance Analysis The following graphs illustrate the relationship, during the period beginning January 1, 2020 and ending December 31, 2024, of the CAP of our CEO and the average CAP of other NEOs to:

| ● |     | our cumulative TSR and the cumulative TSR of constituent companies in the MSCI US REIT Index |

| ● |     | our net income |

| ● |     | ourAFFO per diluted share(in each case as set forth in the table above) |

For additional information on these metrics please refer to our Annual Reports on Form 10-Kand definitive proxy statements on DEF 14A filed with the SEC for each year.

| Gaming and Leisure Properties, Inc. |     | 2025 Proxy Statement| 47 |

| Proxy   
 Summary |     | Corporate      
 Responsibility |     | Board of  
 Directors |     | Executive    
 Compensation |