Company: LANDO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001495240-25-000005
Chunk: 106

Company: GLADSTONE LAND Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 106
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— — Total Incentive fee(3)$— $— $109 $— $109 Incentive fee waiver(3)— — (109)— (109)Incentive fee, net$— $— $— $— $— Total fees due to Adviser, net$2,157 $2,076 $2,070 $2,067 $8,370 FY 2023 Fee Calculations:Base Management Fee:Gross Tangible Real Estate(1)(2)$1,432,394 $1,431,761 $1,433,713 $1,437,268 Quarterly rate0.150 %0.150 %0.150 %0.150 %Base management fee(3)$2,149 $2,148 $2,150 $2,156 $8,603 Incentive Fee:Total Adjusted Common Equity(1)(2)$358,689 $362,411 $360,339 $353,412 First hurdle quarterly rate1.750 %1.750 %1.750 %1.750 %First hurdle threshold$6,277 $6,342 $6,306 $6,185 Second hurdle quarterly rate2.1875 %2.1875 %2.1875 %2.1875 %Second hurdle threshold$7,846 $7,928 $7,882 $7,731 Pre-Incentive Fee FFO(1)$5,303 $4,400 $7,095 $7,167 100% of Pre-Incentive Fee FFO in excess of first hurdle threshold, up to second hurdle threshold$— $— $789 $982 20% of Pre-Incentive Fee FFO in excess of second hurdle threshold— — — — Total Incentive fee(3)$— $— $789 $982 $1,771 Total fees due to Adviser, net$2,149 $2,148 $2,939 $3,138 $10,374 

50

(1)As defined in the Advisory Agreement.

(2)As of the end of the respective prior quarters.

(3)Reflected as a line item