Company: LANDO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001495240-25-000028
Chunk: 73

Company: GLADSTONE LAND Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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 the base management, incentive, and capital gains fees (as applicable) due to our Adviser pursuant to the Advisory Agreement for the three and nine months ended September 30, 2025 and 2024 (dollars in thousands; for further discussion on certain defined terms used below, refer to Note 7, “Related-Party Transactions,” within the accompanying notes to our condensed consolidated financial statements):

Quarter EndedYear to DateMarch 31June 30September 302025 Fee Calculations:Base Management Fee:Gross Tangible Real Estate(1)(2)$1,372,260 $1,326,588 $1,327,849 Quarterly rate0.150 %0.150 %0.150 %Base management fee(3)$2,058 $1,990 $1,992 $6,040 Incentive Fee:Total Adjusted Common Equity(1)(2)$318,209 $322,245 $303,296 First hurdle quarterly rate1.750 %1.750 %1.750 %First hurdle threshold$5,569 $5,639 $5,308 Second hurdle quarterly rate2.1875 %2.1875 %2.1875 %Second hurdle threshold$6,961 $7,049 $6,635 Pre-Incentive Fee FFO(1)$2,139 $(3,346)$1,744 

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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 $3,848 Capital gains fee rate15.0 %15.0 %15.0 %Cumulative capital gains fee$816 $415 $577 Less capital gains fees recorded in prior periods(4)$(628)$(628)$(628)Total Capital Gains Fee(3)(5)$188 $(188)$— $— Total fees due to Adviser$2,246 $1,802 $1,992 $6,040 2024 Fee Calcul