Company: LANDO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001495240-25-000021
Chunk: 44

Company: GLADSTONE LAND Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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”).Pursuant to the Dealer-Manager Agreement, Gladstone Securities provides certain sales, promotional, and marketing services to us in connection with the offering of the Series E Preferred Stock, and we generally paid or pay Gladstone Securities the following:ia selling commission of up to 7.0% of the gross proceeds from sales in the offering (the “Selling Commissions”), andiia dealer-manager fee of 3.0% of the gross proceeds from sales in the offering (the “Dealer-Manager Fees”).Gladstone Securities may, in its sole discretion, remit all or a portion of the Selling Commissions and also reallow all or a portion of the Dealer-Manager Fees to participating broker-dealers and wholesalers in support of the offerings.  The terms of the Dealer-Manager Agreement were approved by our Board of Directors, including its independent directors.The following table summarizes the total Selling Commissions and Dealer-Manager Fees paid to Gladstone Securities during the three and six months ended June 30, 2025 and 2024 (dollars in thousands):

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For the Three Months Ended June 30,For the Six Months Ended June 30,2025202420252024Series E Preferred Stock$— $2 — 30 Total Selling Commissions and Dealer-Manager Fees$— $2 $— $30 Selling Commissions and Dealer-Manager Fees paid to Gladstone Securities are netted against the gross proceeds received from sales of the respective securities and are included within Additional paid-in capital on the accompanying Condensed Consolidated Balance Sheets.Related-Party FeesThe following table summarizes related-party fees paid or accrued for and reflected in our accompanying condensed consolidated financial statements (dollars in thousands): For the Three Months Ended June 30,For the Six Months Ended June 30, 2025202420252024Base management fee(1)(2)$1,990 $2,076 $4,048 $4,233 Capital gains fee credit(1)(2)(3)(188)— — — Total fees to our Adviser$1,802 $2,076 $4,048 $4,233 Administration fee(1)(2)$572 $553 $1,213 $1,156 Selling Commissions and Dealer-Manager Fees(1)(4)$— $2 $— $30 Financing fees(1)(5)15