Company: LANDO
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001193125-25-059811
Chunk: 36

Company: GLADSTONE LAND Corp
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 36
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 Board may change the compensation of our independent directors in its discretion upon the recommendation of our Compensation Committee. None of our independent directors received any compensation from us during the fiscal year ended December 31, 2024, other than for Board or committee service and meeting fees. COMPENSATION COMMITTEE REPORT The Compensation Committee has reviewed and discussed with management the Compensation Discussion and Analysis (“CD&A”) contained in this proxy statement. Based on this review and discussion, the Compensation Committee has recommended to the Board that the CD&A be included in this proxy statement and incorporated into our Annual Report on Form 10-Kfor the fiscal year ended December 31, 2024. Submitted by the Compensation Committee John H. Outland, Chairperson Walter H. Wilkinson, Jr. Katharine C. Gorka TRANSACTIONS WITH RELATED PERSONS The following discussion provides an overview of our related person transactions since the beginning of our fiscal year beginning January 1, 2024, as required by Item 404 of Regulation S-K.For a discussion of our related person transactions for our prior fiscal year please refer to the information under the caption “ Transactions with Related Persons” in our 2024 Proxy Statement, as filed with the SEC on March 27, 2024. Advisory and Administration Agreements Under the Advisory Agreement, our Adviser is responsible for our daily operations of managing the investment and reinvestment of our assets. Specifically, these responsibilities include (i) identifying, evaluating, negotiating and consummating all investment transactions consistent with our investment objectives and criteria; (ii) providing us with all required records and regular reports to our Board concerning our Adviser’s efforts on our behalf; and (iii) maintaining compliance with all regulatory requirements applicable to us. 28

On July 13, 2021, we amended and restated our Fourth Amended and Restated Advisory
Agreement with the Adviser, by entering into the Fifth Amended and Restated Advisory Agreement. The Fifth Amended and Restated Advisory Agreement revised the Base Management Fee from an annual rate of 0.50% (0.125% per quarter) of the prior calendar
quarter’s Gross Tangible Real Estate, to 0.60% (0.15% per quarter) of the prior calendar quarter’s Gross Tangible Real Estate. The revised Base Management Fee began with the fee calculations for the quarter ended September 30, 2021.
The Advisory Agreement also rewards our Adviser with an incentive fee when our FFO (defined at the end of this