Company: GLPI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001575965-25-000045
Chunk: 59

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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 of $0.1 million and an expense of $2.8 million of compensation 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 nine months ended September 30, 2025:Number of Time-Based LTIP AwardsOutstanding at December 31, 2024— Granted85,000 Released— Canceled (15,000)Outstanding at September 30, 202570,000 

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Performance-based LTIP awards 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 September 30, 2025, there was $5.7 million of total unrecognized compensation cost, which will be recognized over the performance-based LTIP awards' remaining weighted average vesting period of 2.26 years.  For the three and nine months ended September 30, 2025, the Company recognized $0.4 million and $1.9 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 performance-based LTIP award activity for the nine months ended September 30, 2025:Number of                Performance-Based LTIP AwardsOutstanding at December 31, 2024— Granted340,000 Released— Canceled (60,000)Outstanding at September 30, 2025280,000 

14.    Supplemental Disclosures of Cash Flow Information and Noncash Activities

Supplemental disclosures of cash flow information are as follows: Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024(in thousands)Cash paid for income taxes, net of refunds received $215 $590 $1,998 $2,989 Cash paid for interest$128,456 $79,382 $