Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 31

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 31
---
 sale agreement. See “Risk Factors” in this prospectus supplement. Each Forward Purchaser will have the right to accelerate any forward sale agreement with respect to all or any portion of the shares underlying such forward sale agreement (except with respect to events specified in (1) and (3) below, where accelerated settlement is limited to the portion of shares whose settlement would address the relevant event or that is affected by the relevant event) and require us to physically settle such shares on a date specified by such Forward Purchaser if: (1) in such Forward Purchaser’s good-faith commercially reasonable judgment, it or its affiliates are unable to hedge its exposure under such forward sale agreement because (x) a lack of sufficient shares of our common stock have been made available for borrowing by securities lenders or (y) such Forward Purchaser or any of its affiliates would incur a stock loan fee in excess of a threshold amount, as specified in the forward sale agreement; (2) we declare any distribution, issue or dividend to existing holders of shares of our common stock (a) payable in cash in excess of amounts specified in the forward sale agreement (unless it is an extraordinary dividend), (b) payable in share capital or securities of another issuer acquired or owned by us as a result of a spin-offor similar transaction, or (c) payable in any other type of securities (other than our common stock), rights, warrants or other assets for payment at less than the prevailing market price as S-16

determined by the Forward Purchaser; (3) certain share ownership limits (as more fully described in the relevant forward sale agreement) applicable to such Forward Purchaser and its affiliates are or would be exceeded; (4) an event (a) is publicly announced that if consummated would result in a specified extraordinary event (including certain mergers or tender offers, as well as certain events involving our nationalization or our insolvency) or (b) occurs that would constitute a change in law or a delisting of our common stock, as specified in the forward sale agreement; or (5) certain other specified events of default or termination events occur, including among other, any failure to pay or deliver or any breach, repudiation or misrepresentation made by us in connection with such forward sale agreement (each as more fully described in the relevant forward sale agreement). A Forward Purchaser’s decision to exercise its right to accelerate all or a portion of the settlement of any forward sale agreement and require us to physically settle the relevant shares will