Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 134

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 8
Chunk 134
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(a)Series A-1 Preferred Units pay dividends quarterly at an annual rate equal to the greater of (x) 3.50 percent, or (y) the then-effective annual dividend yield on the General Partner’s common stock.The Preferred Units have a liquidation and dividend preference senior to the common units and include customary anti-dilution protections for stock splits and similar events. The Preferred Units are convertible into common units of limited partnership interests of the Operating Partnership and are redeemable for cash at their stated value at the option of the holder.

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Summary of Redeemable Noncontrolling InterestsThe following tables set forth the changes in Redeemable noncontrolling interests within the mezzanine section for the three and nine months ended September 30, 2025 and 2024, respectively (dollars in thousands):SeriesA-1 Preferred UnitsIn VRLPBalance at July 1, 2025$9,294Income Attributed to Noncontrolling Interests81Distributions(81)Balance at September 30, 2025$9,294SeriesA-1 Preferred UnitsIn VRLPBalance at January 1, 2025$9,294Income Attributed to Noncontrolling Interests243Distributions (243)Balance at September 30, 2025$9,294Series A-1 Preferred UnitsIn VRLPBalance at July 1, 2024$9,294Income Attributed to Noncontrolling Interests81Distributions(81)Balance at September 30, 2024$9,294Series A and A-1 Preferred Units In VRLPBalance at January 1, 2024$24,999Redemption/Payout(15,700)Income Attributed to Noncontrolling Interests459Distributions(464)Balance at September 30, 2024$9,294

14.    VERIS RESIDENTIAL, INC. STOCKHOLDERS’ EQUITY AND VERIS RESIDENTIAL, L.P.’S PARTNERS’ CAPITAL

Partners’ Capital in the accompanying consolidated financial statements relates to (a) General Partners’ capital consisting of common units in the Operating Partnership held by the General Partner, and (b) Limited Partners’ capital consisting of common units and Long Term Incentive Performance Units ("LTIP Units") held by the limited partners. See Note 15: Noncontrolling Interests in Subsidiaries.

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The following table reflects the