Company: LANDO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001495240-25-000005
Chunk: 176

Company: GLADSTONE LAND Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 176
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 “Series C Selling Commissions”), and◦a dealer-manager fee of 3.0% of the gross proceeds from sales in the offering (the “Series C Dealer-Manager Fee”).•With regard to the Series E Preferred Stock:◦selling commissions of up to 7.0% of the gross proceeds from sales in the offering (the “Series E Selling Commissions,” and together with the Series C Selling Commissions, the “Selling Commissions”), and◦a dealer-manager fee of 3.0% of the gross proceeds from sales in the offering (the “Series E Dealer-Manager Fee,” and together with the Series C Dealer-Manager Fee, the “Dealer-Manager Fees”).No Selling Commissions or Dealer-Manager Fees were paid with respect to shares of the Series C Preferred Stock sold pursuant to the DRIP for the Series C Preferred Stock.  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 each of the Dealer-Manager Agreements were approved by our Board of Directors, including all of our independent directors.The following tables summarizes the total Selling Commissions and Dealer-Manager Fees paid to Gladstone Securities during the years ended December 31, 2024, 2023, and 2022 (dollars in thousands):For the Years Ended December 31,202420232022Series C Preferred Stock$— $— $13,471 Series E Preferred Stock41 583 — Total Selling Commissions and Dealer-Manager Fees$41 $583 $13,471 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 Consolidated Balance Sheets.Related Party FeesThe following table summarizes related-party fees paid or accrued for and reflected in our accompanying consolidated financial statements (dollars in thousands): For the Years Ended December 31, 202420232022Base management fee(1)(2)$8,370 $8,603 $8,307 Incentive fee(1)(2)109 1,771 3,225 Incentive fee waiver(2)(109)— — Total fees to our Adviser$8,370 $10,374