Global Net Lease, Inc 8-K, filed Jun 17, 2021
Global Net Lease, Inc. (GNL)
About this 8-K
Global Net Lease, Inc filed this 8-K on June 17, 2021, reporting on events of June 14, 2021.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 8.01. Other Events.
2018 OPP
As previously disclosed, Global Net Lease, Inc. (the “Company”) and its operating partnership entered into a multi-year outperformance agreement with Global Net Lease Advisors, LLC (the “Advisor”) in July 2018 (as amended, the “2018 OPP”), pursuant to which the Advisor was issued 2,554,930 long-term incentive plan units of limited partnership interest in the Company’s operating partnership (“LTIP Units”). In connection with the end of the performance period under the 2018 OPP on June 2, 2021, the compensation committee of the Company’s board of directors determined on June 14, 2021 that the Company had achieved certain performance goals set forth in the 2018 OPP and thereby approved the earning and vesting of 858,031 Absolute TSR Award LTIPs (as defined in the 2018 OPP) and 1,277,465 Relative TSR Award LTIPs (as defined in the 2018 OPP), as calculated by an independent consultant engaged by the compensation committee. The remaining 419,434 LTIP Units were automatically forfeited without the payment of any consideration by the Company or its operating partnership.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GLOBAL NET LEASE, INC. | ||
| Date: June 16, 2021 | By: | /s/ James L. Nelson |
| Name: James L. Nelson | ||
| Title: Chief Executive Officer and President | ||