Company: GMRE
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001104659-25-029872
Chunk: 12

Company: Global Medical REIT Inc.
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 12
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 that the date of the annual meeting is advanced or delayed by more than 30 days from May 14, 2026, in order for notice by the stockholder to be timely, such notice must be so delivered not earlier than the 150th day prior to the date of such annual meeting and not later than 5:00 p.m. (ET), on the later of the 120th day prior to the date of such annual meeting, as originally convened, or the tenth day following the day on which public announcement of the date of such meeting is first made. 6 How are proxies solicited? We are soliciting proxies by furnishing this Proxy Statement and proxy card to our stockholders. The costs and expenses of soliciting proxies from stockholders will be paid by the Company. Employees, officers, and directors of the Company may also solicit proxies by email, telephone or in person, without additional compensation for such activities. In addition, we will, upon request, reimburse brokerage houses and other custodians, nominees, and fiduciaries for their reasonable out-of-pocket expenses for forwarding proxy and solicitation material to the beneficial owners of common stock. 7 OVERVIEW OF 2024 PERFORMANCE As described in more detail below, short-term interest rates decreased during the second half of 2024, causing the interest rate on our floating-rate indebtedness to decrease. However, our common stock price decreased towards the end of the year, which increased our cost of equity capital, tempering any positive changes to our cost of capital resulting from reduced short-term interest rates. Despite these cost of capital challenges, the Company was able to acquire an $80 million portfolio of healthcare facilities during 2024 and entered into a purchase agreement to acquire an additional $70 million of healthcare facilities, which are expected to close during the first half of 2025. Federal Reserve Begins Lowering the Federal Funds Rate in September 2024 During 2024, the U.S. Federal Reserve began lowering the Federal Funds Rate as inflation began to moderate. The chart below illustrates the movement of the Federal Funds Rate during 2024. The decreases in the Federal Funds Rate in 2024 led to decreases in other interest rates, including the reference rate for our floating rate debt, the one-month Secured Overnight Financing Rate (“ SOFR”). The chart below illustrates the changes in one-month SOFR during 2024. 8 As a result of decreases in short term interest rates during 2024, the weighted average interest rate on our indebtedness decreased