Company: GLPI
Filing Date: 2025-07-18
Form Type: 8-K
Source: 0001575965-25-000028
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Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-07-18
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

On July 18, 2025, Gaming and Leisure Properties, Inc. (the “ Company”) determined to eliminate the position of Senior Vice President and Chief Investment Officer of the Company. The Company and Matthew J. Demchyk, who currently serves in that role, have entered into a separation agreement (the “ Agreement”) providing for Mr. Demchyk’s last day of employment with the Company to be August 1, 2025 (the “ Separation Date”).

The Agreement provides for payment of cash severance and for a cash payment in consideration of his outstanding vested and unvested equity and equity-based awards, in lieu of payment in shares. It provides that, subject to certain conditions set forth in the Agreement, Mr. Demchyk will be entitled to the following severance benefits: (i) cash payments equal to $6,250,000, of which $3,250,000 will be paid on the first regular payroll date following 30 days after Mr. Demchyk’s execution of a general release of claims, in favor of the Company, becomes effective, $2,300,000 will be paid on March 15, 2026 and the remaining $700,000 will be paid on August 1, 2026; and (ii) continuing coverage under the Company’s group medical, dental and vision plans (at no cost to Mr. Demchyk) for a period equal to the earlier of (a) twenty-four (24) months following the Separation Date and (b) the date Mr. Demchyk becomes eligible to be covered under another employer group health plan. Mr. Demchyk will not be entitled to any further payments with respect to his outstanding equity or under the Company’s change in control and executive severance plan following his Separation Date.

The description of the Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which will be filed with the Company’s Quarterly Report on Form 10-Q for the quarterly period ending September 30, 2025.

  Item 9.01      Financial Statements and Exhibits.