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Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2025


Declaration Date		Record Date		Amount			Paid / Payable Date
Series A Preferred Stock ⁽¹⁾
January 15, 2026		January 23, 2026		$	0.12500		February 5, 2026
January 15, 2026		February 25, 2026			0.12500		March 5, 2026
January 15, 2026		March 25, 2026			0.12500		April 2, 2026
Series A Preferred Enhanced Special Dividend
January 15, 2026		January 23, 2026			⁽²⁾		February 5, 2026
January 15, 2026		February 25, 2026			⁽²⁾		March 5, 2026
January 15, 2026		March 25, 2026			⁽²⁾		April 2, 2026
Series B Preferred Stock ⁽¹⁾
January 15, 2026		January 23, 2026		$	0.15625		February 5, 2026
January 15, 2026		February 25, 2026			0.15625		March 5, 2026
January 15, 2026		March 25, 2026			0.15625		April 2, 2026

(1)

Holders of record of newly issued Series A Preferred Stock shares and Series B Preferred Stock shares that are held only a portion of the applicable monthly dividend period will receive a prorated dividend based on the actual number of days in the applicable dividend period during which each such share of Series A Preferred Stock and Series B Preferred Stock was outstanding.

(2)

Holders of record of Series A Preferred Stock shares are entitled to an enhanced special dividend equal to the amount by which (i) the Stated Value of the Series A Preferred Stock multiplied by (a) the sum of (I) the average of the one-month Term SOFR for each day commencing on the 26^th of the prior month to the 25^th of the applicable month, plus (II) two percent, divided by (b) twelve, exceeds (ii) the standard monthly dividend of $0.125 per share of Series A Preferred Stock. The enhanced special dividend will be aggregated with the standard monthly dividend so as to effect a dividend rate on the Series A Preferred Stock that is subject to a 6.5% minimum and 8.5% maximum annual rate.

Schedule of distributions declared and/or paid to the Company's stockholders

The following distributions were declared and/or paid to the Company’s stockholders subsequent to December 31, 2025 (amounts in thousands):

 

Distribution

 

Total

Shares

 

Declaration Date

 

Record Date

 

Date Paid

 

per Share

 

Distribution

Class A common stock

March 11, 2025

December 24, 2025

January 5, 2026

0.125000

506

Class C common stock

March 11, 2025

December 24, 2025

January 5, 2026

0.125000

Series A Preferred Stock ⁽¹⁾

October 15, 2025

December 24, 2025

January 5, 2026

0.135417

849

OP Units

March 11, 2025

December 24, 2025

January 5, 2026

0.125000

921

LTIP / C-LTIP Units

March 11, 2025

December 24, 2025

January 5, 2026

0.125000

227

Series A Preferred Stock ⁽¹⁾

January 15, 2026

January 23, 2026

February 5, 2026

0.135417

855

Total

3,359

(1)	Series A Preferred Stock distribution per share amounts include the standard dividend at an annual rate of 6.0% of the Stated Value and any enhanced special dividends.