Company: INRE
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001193125-25-268836
Chunk: 12

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 12
---
 the Company and reimburses the Business Manager for certain expenses that the Business Manager incurs on the Company’s behalf. The Company’s president and chief executive officer, Mark Zalatoris, serves in these capacities pursuant to an agreement the Company entered into with Mr. Zalatoris referred to herein as the “CEO Agreement.” Under the CEO Agreement, the Company compensates Mr. Zalatoris directly for his services. The fee payable to the Business Manager is reduced by any payments made to Mr. Zalatoris under the CEO Agreement. Mr. Zalatoris is not an employee of the Company and is not an officer or director of the Business Manager but has the authority under the CEO Agreement and the Fourth Business Management Agreement to direct the day-to-day operations of the Business Manager. The Company’s properties are managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”), an indirect wholly owned subsidiary of the Sponsor.As previously noted, the Company’s board of directors (the “board”) has been reviewing strategic alternatives including sale of the Company. The board retained a financial advisor and through the financial advisor engaged in discussions with potential purchasers. Based on this engagement and subsequent follow-up review and discussion, the board has decided not to pursue the sale of the Company at this time. The board has asked the Business Manager to evaluate the Company’s business plan and related strategy and to consider and present alternatives and enhancements to this plan and strategy for board review. The goal is to increase assets and cash flow on an accretive basis as well as enhance our capital (primarily equity) and provide liquidity to stockholders over time. The board may also engage other third parties to provide further strategic insight and review. To address upcoming debt maturities, the Company expects to enter into an amended credit facility agreement that will both extend the term of the agreement and increase the amount that may be drawn under the facility. The Company expects to repay maturing indebtedness secured by certain of the Company’s properties by drawing on the credit facility. Further, solely to assist broker-dealers in satisfying their obligations to report values on customer account statements, the Company anticipates publishing an estimate of per share net asset value as of September 30, 2025 no later than December 31, 2025.On September 18, 2024, in connection with the process to review strategic alternatives, the board suspended both the distribution reinvestment plan (as amended, the “DRP”) and the share repurchase program (as amended, the “