Company: LANDO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001495240-25-000021
Chunk: 69

Company: GLADSTONE LAND Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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3)$2,058 $1,990 $4,048 Incentive Fee:Total Adjusted Common Equity(1)(2)$318,209 $322,245 First hurdle quarterly rate1.750 %1.750 %First hurdle threshold$5,569 $5,639 

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Second hurdle quarterly rate2.1875 %2.1875 %Second hurdle threshold$6,961 $7,049 Pre-Incentive Fee FFO(1)$2,139 $(3,346)100% of Pre-Incentive Fee FFO in excess of first hurdle threshold, up to second hurdle threshold$— $— 20% of Pre-Incentive Fee FFO in excess of second hurdle threshold— — Total Incentive fee(3)$— $— $— Capital Gains Fee:Aggregate net realized capital gains(1)$5,443 $2,769 Capital gains fee rate15.0 %15.0 %Cumulative capital gains fee$816 $415 Less capital gains fees recorded in prior periods(4)$(628)$(628)Total Capital Gains Fee(3)(5)$188 $(188)$— Total fees due to Adviser$2,246 $1,802 $4,048 2024 Fee Calculations:Base Management Fee:Gross Tangible Real Estate(1)(2)$1,437,812 $1,384,228 Quarterly rate0.150 %0.150 %Base management fee(3)$2,157 $2,076 $4,233 Incentive Fee:Total Adjusted Common Equity(1)(2)$344,128 $346,578 First hurdle quarterly rate1.750 %1.750 %First hurdle threshold$6,022 $6,065 Second hurdle quarterly rate2.1875 %2.1875 %Second hurdle threshold$7,528 $7,581 Pre-Incentive Fee FFO(1)$5,988 $4,974 100% of Pre-Incentive Fee FFO in excess of first hurdle threshold, up to second hurdle threshold$— $— 20% of Pre-Incentive Fee FFO in excess of second hurdle threshold— — Total Incentive fee(3)$— $— $