Company: LANDO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001495240-25-000021
Chunk: 50

Company: GLADSTONE LAND Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 common share for the three and six months ended June 30, 2025 and 2024, computed using the weighted average number of common shares outstanding during the respective periods.(Dollars in thousands, except per-share amounts):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net (loss) income attributable to common stockholders$(13,880)$(6,654)$(4,774)$795 Weighted average shares of common stock outstanding – basic and diluted36,184,658 35,838,442 36,184,658 35,838,442 (Loss) income per common share – basic and diluted$(0.38)$(0.19)$(0.13)$0.02 

NOTE 12.  SUBSEQUENT EVENTS

Repurchase ProgramOn July 11, 2025, our Board of Directors approved a share repurchase program authorizing us to repurchase up to $20.0 million of our Series B Preferred Stock and up to $35.0 million of our Series C Preferred Stock (collectively, the “2025 Repurchase Program”).  The Board’s authorization of the 2025 Repurchase Program may be suspended at any time, does not obligate us to acquire any particular amount of securities, and expires on July 10, 2026.  Under the 2025 Repurchase Program, repurchases are intended to be implemented through open market transactions on U.S. exchanges and/or privately-negotiated transactions facilitated by a third-party broker acting as agent for us in accordance with applicable securities laws.  Any repurchases will be made during applicable trading window periods or pursuant to Rule 10b5-1 trading plans.Financing ActivityDebt Activity—Loan RepaymentsSubsequent to June 30, 2025, we repaid a $10.4 million bond upon maturity.  The bond bore interest at a stated rate of 4.45%.DistributionsOn July 10, 2025, our Board of Directors declared the following monthly cash distributions to holders of our preferred and common stock:

24

IssuanceRecord DatePayment DateDistribution per ShareSeries B Preferred Stock:July 21, 2025July 31, 2025$0.125 August 20, 2025August 29, 20250.125 September 22, 2025September 30, 20250.125 Total