Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 29

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 29
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 forward sale agreement. However, if we physically or net share settle any forward sale agreement, delivery of shares of our common stock by us will result in dilution to our earnings per share.

We currently expect to physically settle each forward sale agreement, if any, with the relevant Forward Purchaser on one or more dates specified by us on
or prior to the maturity date of such forward sale agreement, by delivering shares of our common stock, unless, subject to certain exceptions, we elect to cash settle or net share settle such forward sale agreement. If we elect to physically settle
any forward sale agreement by issuing and delivering shares of our common stock, we will receive an amount of cash from the relevant Forward Purchaser equal to the product of the forward sale price per share under the applicable forward sale
agreement and the number of shares of our common stock underlying the applicable forward sale agreement.

Except under certain circumstances described
below and subject to certain conditions, we will generally have the right, in lieu of physical settlement of any forward sale agreement, to elect cash or net share settlement in respect of all or a part of the shares of our common stock subject to
such forward sale agreement. For example, we may conclude that it is in our interest to cash settle or net share settle a particular forward sale agreement if we have no then-current use for all or a portion of the net proceeds that we would receive
upon physical settlement. In addition, subject to certain conditions, we may elect to accelerate the settlement of all or a portion of the number of shares of common stock underlying any forward sale agreement. In the event that we elect to cash
settle, the settlement amount will be generally related to (1) (a) the average of the volume-weighted average price of our

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common stock on each exchange business day during the relevant valuation period under the applicable forward sale agreement minus (b) the applicable forward sale price; multiplied by (2) the number of shares of our common stock underlying the applicable forward sale agreement subject to cash settlement. In the event we elect to net share settle, the settlement amount will be generally related to (1) (a) the weighted average price at which the relevant forward purchaser or its affiliate purchases shares of our common stock during the relevant valuation period for such settlement under the applicable forward sale agreement minus (b) the applicable forward sale price; multiplied by (2) the number of shares of our common stock underlying the applicable forward sale agreement subject to such net share settlement. If we elect to