Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 27

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 27
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-current initial forward price as of such day under the forward sale agreement pursuant to which such shares were sold on that day and the aggregate compensation payable by us to such Sales
Agent in connection with such sales of our common stock.

We expect that settlement between a Forward Purchaser or its affiliates and the relevant Sales
Agent, as Forward Seller, for sales of borrowed shares of our common stock, as well as the settlement between such Sales Agent and buyers of such shares of our common stock in the market, will occur on the business day (or on such other date as is
the industry practice at the time for regular-way trading unless another date shall be agreed to in writing by us and the relevant Sales Agents) following each date any such sales are made in return for the
payment of the net proceeds thereof. There is no arrangement for funds to be received in an escrow, trust or similar arrangement. The obligations of a Forward Purchaser and the related Sales Agent, acting as Forward Seller, under the Sales Agreement
to execute such sales of shares of our common stock is subject to certain conditions, which each Forward Seller reserves the right to waive in its sole discretion.

In connection with each forward sale agreement, we will pay the relevant Sales Agent, acting as Forward Seller in the form of a reduced initial forward sale
price under the related forward sale agreement, commissions at a mutually agreed rate that will not exceed, but may be lower than, 2.0% of the aggregate gross sales prices of all borrowed shares of our common stock sold through such Sales Agent,
acting as Forward Seller, during the applicable forward hedge selling period. We refer to this commission rate as the forward selling commission. The forward hedge selling period will be a period of consecutive trading days determined by us in our
sole discretion and as specified in the relevant instruction. We may also agree with any Sales Agent, acting as Forward Seller, to sell shares of our common stock other than through ordinary brokers’ transactions on Nasdaq, and for which we may
agree to pay such Sales Agent a commission that is customary for such sales in the form of a reduction to

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the initial forward price under the related forward sale agreement. We sometimes refer to this commission as the “forward selling commission.”

The forward sale price per share under each forward sale agreement will initially equal the product of (1) an amount equal to one minus the applicable
forward selling commission and (2) the volume-weighted average price per share at which the borrowed shares of our common stock were sold pursuant