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 3.02 Unregistered Sales of Equity Securities.
As previously disclosed, 2,135,496 units of limited partnership interest in Global Net Lease Operating Partnership, L.P. (the “OP), the operating partnership of Global Net Lease, Inc. (the “Company”), designated as “LTIP Units” owned by Global Net Lease Advisors, LLC (the “Advisor”) were earned and became vested and were subsequently converted into a like number of units of limited partnership interest in the OP designated as “OP Units” (“OP Units”). On June 17, 2021, the Advisor exercised its right to redeem these OP Units for, at the Company’s option, cash or shares of the Company’s common stock on a one-for-one basis. On the same day, the Company’s board of directors elected to satisfy the OP’s redemption obligation by issuing shares of the Company’s common stock to the Advisor. The shares were issued to the Advisor on June 18, 2021 under the 2021 Advisor Omnibus Incentive Compensation Plan of the Company pursuant to an exemption from registration set forth in Section 4(a)(2) of the Securities Act of 1933, as amended.
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 21, 2021 | By: | /s/ James L. Nelson |
Name: James L. Nelson | ||
Title: Chief Executive Officer and President |