Company: VRE
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000924901-25-000028
Chunk: 106

Company: Veris Residential, Inc.
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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4, respectively (dollars in thousands):SeriesA-1 Preferred UnitsIn VRLPBalance at January 1, 2025$9,294Income Attributed to Noncontrolling Interests81Distributions(81)Balance at March 31, 2025$9,294

29

Series A andA-1 Preferred UnitsIn VRLPBalance at January 1, 2024$24,999Redemption/Payout(15,700)Income Attributed to Noncontrolling Interests297Distributions(302)Balance at March 31, 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.The following table reflects the activity of the General Partner capital for the three months ended March 31, 2025 and 2024, respectively (dollars in thousands):Three Months EndedMarch 31,20252024Opening Balance $1,099,391$1,137,478Net income (loss) available to common shareholders(10,699)(3,903)Shares issued under ATM Program, net— (55)Common stock distributions(7,550)(4,984)Redemption of common units for common stock509 — Shares issued under Dividend Reinvestment and Stock Purchase Plan21Directors' deferred compensation plan9899Stock Compensation3,3224,200Cancellation of common stock(3,923)(1,534)Other comprehensive income (loss)(1,011)998Rebalancing of ownership percent between parent and subsidiaries347(69)Balance at March 31$1,080,486$1,132,231Any transactions resulting in the issuance of additional common and preferred stock of the General Partner result in a corresponding issuance by the Operating Partnership of an equivalent amount of common and preferred units to the General Partner.ATM PROGRAMOn November 15, 2023, the Company reestablished a continuous “at-the-market” offering program (“ATM Program”) with a