Company: GIPRW
Filing Date: 2025-11-07
Form Type: DEF 14A
Source: 0001193125-25-272581
Chunk: 15

Company: GENERATION INCOME PROPERTIES, INC.
Filing Date: 2025-11-07
Form: DEF 14A
Chunk 15
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 | $50,000 |     |       | $50,000 |
| Betsy Peck       |     |       2024 |     |                          | - |     |                 | $50,000 |     |       | $50,000 |
| Patrick Quilty   |     |       2024 |     |                          | - |     |                 | $50,000 |     |       | $50,000 |

(1) The amounts reported in this column represent the aggregate fair value of the stock awards, calculated in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, Stock Compensation. Relevant assumptions used to determine these amounts include a $4.08 per share valuation with a 0% forfeiture rate.

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TRANSACTIONS WITH RELATED PERSONS</div>

Securities and Exchange Commission ("SEC") rules require us to disclose any transaction or currently proposed transaction in which we are a participant and in which any related person has or will have a direct or indirect material interest involving an amount that exceeds the lesser of $120,000 or one percent (1%) of the average of the Company’s total assets as of the end of the last two completed fiscal years. A related person is any executive officer, director, nominee for director, or holder of 5% or more of the Company’s common stock, or an immediate family member of any of those persons.

We have a formal written policy for the review and approval of transactions with related parties. Our policy with regard to transactions with related persons is that all material transactions are to be reviewed by the entire Board for any possible conflicts of interest. The Board is responsible for review, approval, or ratification of “related-person transactions” involving the Company and related persons.

On August 9, 2022 the Company and Operating Partnership entered a Redemption Agreement with a unit holder, Thomas E. Robinson. As such, the Company recorded an other payable - related party in the amount of $2,912,300 upon execution of the Redemption Agreement entered into July 20, 2022 and has paid the note in full as of December 31, 2024. Remaining balances of $0 and $1,809,840 were outstanding as of December 31, 2024 and 2023, respectively. Additionally, the Company issued 200,000 shares of common stock at $6.00 per share in accordance with the Redemption Agreement, and recorded the stock at par value of $2,000 with the