Company: GLPI
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-101728
Chunk: 65

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 65
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 Committee discretion to determine whether and to what extent holders of phantom stock units, if any, will have shareholder rights, and (iv) to remove provisions related to prior plans and awards that no longer apply to the 2013 Plan. Upon the recommendation of the Compensation Committee, our Board unanimously approved the amendment of the 2013 Plan on April 25, 2025, subject to shareholder approval. If the amendment of the 2013 Plan is not approved, the 2013 Plan will continue under its current terms and the shares reserved for issuance will not increase. The discussion regarding this proposal is qualified in its entirety by reference to the complete text of the 2013 Plan, which is attached to this Proxy Statement as Appendix A and incorporated into this Proxy Statement by reference. We urge you to carefully read the 2013 Plan in its entirety because this summary may not contain all of the information about the 2013 Plan that may be important to you. SUMMARY OF PROPOSAL As of March 31, 2025, there were 338,607 shares available for grant under the 2013 Plan. The Board determined that the number of shares remaining available under the 2013 Plan is not adequate for our future equity compensation needs and amended the 2013 Plan, subject to shareholder approval, to increase the number of shares covered by, and reserved for issuance under, the 2013 Plan by 4,500,000 of the Company’s common shares. The Board believes the proposed amendment to the 2013 Plan will allow the Company to continue utilizing a broad array of equity incentives and performance cash incentives in order to secure and retain the services of employees of the Company and its subsidiaries, and to continue providing long-term incentives that align the interests of employees with the interests of the Company’s shareholders. If this proposal is not approved and the shares authorized for awards are not increased, the Company believes that the shares authorized for issuance under the 2013 Plan will be depleted within the next year. Our Board is recommending the increase in authorized shares described above so that the Company will continue to have the ability to grant equity awards for at least five additional years in order to attract and retain talented and motivated executive officers, other employees and non-employeedirectors, among other eligible participants in the 2013 Plan. As described in the Executive Compensation Discussion & Analysis, the Company grants both time-based restricted shares and performance-based restricted stock and limited partnership units as part of the long-term incentive program and does not currently grant stock options or