Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 23

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 11
Chunk 23
---
 respect to the current or future value of our shares. In addition, the board includes the non-binding stockholder advisory votes on executive compensation and on the frequency of stockholder votes on executive compensation in the relevant proxy statement as required pursuant to Section 14A of the Exchange Act.

Independent Director Compensation

The following table summarizes compensation earned by the independent directors for the year ended December 31, 2024 (Dollar amounts in thousands):

    Name
    Fees Earned or Paid in Cash
     
    Stock Awards(1)
     
    Options Awards
     
    Non-Equity Incentive Plan Compensation
     
    Change in Pension Value and Nonqualified Deferred Compensation Earnings
     
    All Other Compensation(2)
     
    Total Compensation

    Lee A. Daniels
    $
    115
     
    $
    40
     
    $
    —
     
    $
    —
     
    $
    —
     
    $
    4
     
    $
    159

    Stephen L. Davis
    $
    105
     
    $
    40
     
    $
    —
     
    $
    —
     
    $
    —
     
    $
    4
     
    $
    149

    Gwen Henry
    $
    115
     
    $
    40
     
    $
    —
     
    $
    —
     
    $
    —
     
    $
    4
     
    $
    159

    Bernard J. Michael
    $
    106
     
    $
    40
     
    $
    —
     
    $
    —
     
    $
    —
     
    $
    4
     
    $
    150

(1)Represents 2,086 restricted shares granted on November 6, 2024 to each director. The number of restricted shares granted was calculated based on the estimated per share NAV as of December 31, 2023.

(2)Represents the value of distributions received during the year ended December 31, 2024 on all stock awards received through December 31, 2024.

Cash Compensation

Until June 1, 2024, we paid our independent directors an annual fee of $50,000 plus $2,000 for each in-person meeting or meeting of the board by video conference and $