Form Type: 4

SEC EDGAR Link
Accession Number:0001104659-21-082108
Date:2021-06-14
Issuer: GLOBAL NET LEASE, INC. (GNL)
Original Submission Date:

Reporting Person:

NELSON JAMES LARRY
650 FIFTH AVE., 30TH FLOOR
NEW YORK, NY 10019

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
LTIP UNITS 0.0 2021-06-14 deemed execution date D 419,434 (d) common stock 419,434 $0.00 2,135,496 indirect see footnote
LTIP UNITS 0.0 2021-06-14 deemed execution date C 2,135,496 (d) common stock 2,135,496 $0.00 0 indirect see footnote
OP UNITS 0.0 2021-06-14 deemed execution date C 2,135,496 (a) common stock 2,135,496 $0.00 2,135,496 indirect see footnote
Footnotes
IDfootnote
f1 represents units of limited partnership interest designated as "ltip units" ("ltip units") in global net lease operating partnership, l.p. (the "op"), the operating partnership of global net lease, inc. (the "company"), issued to the company's external advisor, global net lease advisors, llc (the "advisor") under the 2018 advisor multi-year outperformance agreement, dated as of july 19, 2018, among the company, the op and the advisor (the "2018 opp").
f2 these ltip units could be earned by the advisor based on the company's achievement of threshold, target and maximum performance goals based on the company's absolute and relative total stockholder return over a performance period commencing on june 2, 2018 and ending on the earliest of (i) june 2, 2021, (ii) the effective date of any change of control (as defined in the 2018 opp) and (iii) the effective date of any termination of the advisor's service as advisor of the company. if and when the advisor's capital account with respect to an ltip unit is equal to the capital account balance of a unit of limited partnership interest in the op designated as an "op unit" ("op unit"), the advisor, in its sole discretion, is entitled to convert the earned ltip unit into an op unit.
f3 on june 14, 2021, the compensation committee of the board of directors of the company determined that the extent to which the performance goals had been achieved during the performance period resulted in 2,135,496 of the ltip units being earned. ltip units that are earned also become vested. following the compensation committee's determination, the 419,434 ltip units that were not earned were automatically forfeited without the payment of any consideration by the company or the op. on june 14, 2021, the advisor exercised its discretion and the earned ltip units were converted into op units. op units may be redeemed on a one-for-one basis for, at the company's election, a share of the company's common stock or the cash equivalent thereof.
f4 held directly by the advisor. the reporting person is the chief executive officer and president of, and also holds a non-controlling profits interest in, the advisor. the reporting person disclaims beneficial ownership of the securities beneficially owned by the advisor except to the extent of his pecuniary interest therein.
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