Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 25

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 25
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 Sales Agreement, on a daily basis or as otherwise agreed
upon by us and the Sales Agents. On any trading day, we will offer and sell shares of common stock through only one of the Sales Agents. We will designate the maximum number of shares of common stock to be sold through a Sales Agent on a daily basis
or otherwise determine such maximum number together with the applicable Sales Agent. Subject to the terms and conditions of the Sales Agreement, each Sales Agent will use its commercially reasonable efforts consistent with its normal trading and
sales practices for similar transactions and applicable laws and regulations to sell on our behalf all of the shares of common stock to be sold through it. We may instruct a Sales Agent not to sell shares of common stock if the sales cannot be
effected at or above the price designated by us in any such instruction. We or a Sales Agent may suspend the offering of shares of common stock being made through the applicable Sales Agent under the Sales Agreement upon proper notice to the other
party.

Each Sales Agent will provide written confirmation to us following the close of trading on Nasdaq on each day during which shares of our common
stock were sold by it, as our sales agent, under the Sales Agreement. Each confirmation will include the number of shares of common stock sold on that day, the gross sales prices per share, the compensation payable by us to such Sales Agent and the
proceeds to us net of such compensation.

Under the terms of the Sales Agreement, we may also sell shares of our common stock to one or more of the Sales
Agents, as principal, at a price to be agreed upon at the time of sale. If we sell shares to one or more of the Sales Agents as principal, we will enter into a separate terms agreement with such Sales Agent or Sales Agents, as the case may be,
setting forth the terms of such transaction, and we will describe the terms of the offering of those shares in a separate prospectus supplement or pricing supplement.

Settlement for sales of our common stock through a Sales Agent, acting as our sales agent, or to a Sales Agent, acting as principal, will occur on the trading
day next succeeding the date on which any sales are made, unless we otherwise agree with the relevant Sales Agent. The obligation of each Sales Agent to purchase shares of our common stock pursuant to any instruction notice is subject to certain
conditions, which such Sales Agent reserves the right to waive in its sole discretion.

S-13

We will pay each Sales Agent a commission at a mutually agreed rate