Company: GLPI
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-101728
Chunk: 51

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 51
---
 |                            |     |         |     |               |     |           |     |                |     |           |     |                          |     | — |     |        |     | 15,000 |     |         |     |  30,000 |     |                                                     |     |        |     |                                  |     |   847,500 |

| (1) | Awards represent annual performance-based cash award opportunity, at the threshold, target, and maximum level. Actual annual performance-based cash awards earned for 2024 are included in the Non-Equity Incentive Plan Compensation column of the Summary Compensation Table. |

| (2) | Awards represent performance-based restricted stock with cliff vesting at the end of the performance period beginning on January 1, 2024 and ending on December 31, 2026. The number of restricted shares vested at the end of the performance period can range from zero to a maximum of 200% of target, depending on the level of achievement of the performance goals measured against the return of the companies included in the MSCI US REIT Index or in the triple-net REIT group set forth by the Company over the measurement period. In the event of a change-of-control, awards vest immediately at target level or, if greater, the actual level of achievement as of the date of the change-of-control. For more information on the Company’s performance-based equity awards, see the Overview of 2024 Compensation section of the Compensation Discussion and Analysis included in this Proxy Statement. |

| (3) | Awards represent restricted stock awards granted to the NEOs as part of their annual compensation. All grants have vesting over three years, 33.33% on the first anniversary of the date of grant and 33.33% on each succeeding anniversary. |

| (4) | Represents the aggregate grant date fair value of awards under ASC 718. Generally, the aggregate grant date fair value is the amount the Company would expense in its financial statements over the award’s vesting period. The Company utilized a third party valuation firm to measure the fair value of the performance-based restricted stock awards at grant date using the Monte Carlo model. Additional information regarding the calculation of the grant date fair value is included in footnote 2 to the Company’s audited financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. |

| 50 | 2025 Proxy Statement |     | Gaming and Leisure Properties