Company: INRE
Filing Date: 2025-09-24
Form Type: DEF 14A
Source: 0001193125-25-214755
Chunk: 30

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-09-24
Form: DEF 14A
Chunk 30
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 management fee described below is reduced by the amount of any payment made to the third-party as compensation for serving as the Company’s president and chief executive officer. As noted elsewhere in this proxy statement, Mr. Zalatoris serves as our president and chief executive officer. For the year ended December 31, 2024 and the six months ended June 30, 2025, the fee payable to the Business Manager was reduced in an amount equal to $0.3 million and $0.2 million, respectively, equal to the payments made to Mr. Zalatoris during these periods. The foregoing description is qualified by reference to the BMA in its entirety, a copy of which is included with our Annual Report as exhibit 10.24.

The term of the BMA expires on March 31, 2027 unless renewed. We are required to pay an annual fee to the Business Manager equal to 0.55% of “average invested assets” reduced by amounts paid to the person serving as president and chief executive officer. The fee is payable quarterly in an amount equal to 0.1375% of our average invested assets as of the last day of the immediately preceding quarter. The Business Manager may, in its sole discretion, waive or defer until a later date some or all the fee in any quarter. We are not required to pay interest on any fees that are waived or deferred. The Business Manager did not waive or defer any of the fee during the year ended December 31, 2024 or the six months ended June 30, 2025. The term “average invested assets” means, for any period, the average of the aggregate book value of our assets, including all intangibles and goodwill, invested, directly or indirectly, in equity interests in, and loans secured by, properties, as well as amounts invested in securities and consolidated and unconsolidated joint ventures or other partnerships, before reserves for amortization and depreciation or bad debts, impairments or other similar non-cash reserves, computed by taking the average of these values at the end of each month during the relevant calendar quarter.

If a “triggering event” occurs during the term of the BMA, we are required to pay the Business Manager a subordinated incentive fee equal to 10% of the amount by which: (1) the “liquidity amount” (as defined below) exceeds (2) the “aggregate invested capital,” plus the total distributions required to be paid to our stockholders in order to