Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 324

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 6
Chunk 324
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 2023. Repurchases are made in the Company’s sole discretion. In the case of repurchases made upon the death of a stockholder or qualifying disability (“Exceptional Repurchases”), as defined in the SRP, the one year holding period does not apply. Under the Fifth SRP, the board of directors had the discretion to establish the proceeds available to fund repurchases each quarter and could use proceeds from all sources available to the Company, in the board of directors’ sole discretion. The board of directors also had the discretion to determine the amount of repurchases, if any, to be made each quarter based on its evaluation of the Company’s business, cash needs and any other requirements of applicable law. The entirety of the Fifth SRP can be found on the Company’s website. The SRP will immediately terminate if the Company’s shares of common stock become listed for trading on a national securities exchange. In addition, the Company’s board of directors, in its sole discretion, may, at any time, amend or terminate the SRP. On September 18, 2024, the board suspended the SRP effective as of October 1, 2024 in connection with the board’s review of strategic alternatives. During the suspension, the Company will not repurchase shares under the SRP. Any outstanding repurchase requests will automatically roll over for processing under the terms and conditions of the SRP if the SRP is reinstated unless a stockholder withdraws the request for repurchase. There is no assurance the SRP will be reinstated.Even if reinstated, the SRP contains numerous restrictions that limit the stockholders’ ability to sell their shares even if the plan is reinstated. The board of directors, in its sole discretion, may amend or terminate the SRP. The SRP will immediately terminate if the Company’s shares become listed for trading on a national securities exchange.Repurchases through the SRP were $5,001, $5,966 and $3,645 for the years ended December 31, 2024, 2023 and 2022, respectively, funded primarily with the proceeds from the DRP. Shares are repurchased at the Estimated Per Share NAV at the time of repurchase. As of December 31, 2024 and 2023, there was no liability related to the SRP.

NOTE 4 – ACQUISITIONSThe Company did not acquire any properties during the year ended December 31, 2024 and 2023.2022 Ac