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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
February 27, 2024
Global Net Lease, Inc.
(Exact Name of Registrant as Specified in
Charter)
Maryland |
|
001-37390 |
|
45-2771978 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
650 Fifth Avenue, 30th Floor
New York, New York 10019
(Address, including zip code, of Principal Executive Offices)
Registrant’s telephone number,
including area code: (332) 265-2020
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to section 12(b) of the Act:
Title of each class |
|
Trading
Symbols |
|
Name of each exchange on
which
registered |
Common
Stock, $0.01 par value per share |
|
GNL |
|
New York Stock Exchange |
7.25%
Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share |
|
GNL PR A |
|
New York Stock Exchange |
6.875%
Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share |
|
GNL PR B |
|
New York Stock Exchange |
7.50% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share |
|
GNL PR D |
|
New York Stock Exchange |
7.375% Series E Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share |
|
GNL PR E |
|
New York Stock Exchange |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
¨
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 27, 2024, the board of directors of
Global Net Lease, Inc. (the “Company”) elected, effective immediately, Mr. Michael J. U. Monahan to serve as a member of the
board until the Company’s 2024 annual meeting of stockholders and until his successor is duly elected and qualifies. Mr. Monahan’s
election fills an existing vacancy.
Mr. Monahan, age 66, is a CBRE Group, Inc. Vice
Chair in the New York office, where he has worked since January 1999.
The board determined that Mr. Monahan is “independent”
as defined under the listing standards of the New York Stock Exchange (“NYSE”) and the Company’s corporate governance
guidelines.
There are no family relationships between Mr.
Monahan and any director or executive officer of the Company, there are no arrangements or understandings between Mr. Monahan and any
other persons or entities pursuant to which Mr. Monahan was appointed as a director of the Company, and there are no transactions involving
Mr. Monahan, on the one hand, and the Company, on the other hand, that would require disclosure under Item 404(a) of Regulation
S-K.
Effective upon appointment, Mr. Monahan became
eligible to receive compensation in accordance with the non-employee director compensation guidelines which were filed as Exhibit 10.63
in the Company’s annual report on Form 10-K on February 27, 2024. In connection with Mr. Monahan’s election as a director
of the Company, the Company intends to enter into an indemnification agreement with him in the same form as the indemnification agreements
the Company has entered into with its other directors and officers. Under the indemnification agreement, Mr. Monahan will be indemnified
by the Company to the maximum extent permitted by Maryland law for certain liabilities and will be advanced certain expenses that have
been incurred as a result of actions brought, or threatened to be brought, against him as a director of the Company as a result of his
service, subject to the limitations set forth in the indemnification agreement.
Item 9.01. Financial Statements and Exhibits.
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: February 28, 2024 |
By: |
/s/ Edward M. Weil, Jr. |
|
|
Name: Edward M. Weil, Jr. |
|
|
Title: Co-Chief Executive Officer
(Co-Principal Executive Officer) |
Exhibit 99.1
GLOBAL NET LEASE APPOINTS REAL ESTATE VETERAN
TO BOARD OF DIRECTORS
Michael J. U. Monahan, a CBRE Vice Chair, Appointed
to GNL’s Board
NEW YORK – February 28, 2024 –
Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced the appointment of Michael J. U. Monahan
to GNL’s Board of Directors, effective immediately.
As a CBRE Vice Chair, Mr. Monahan brings a wealth
of sophisticated real estate knowledge and expertise to GNL’s Board, making him an ideal addition to our Company. As GNL continues
to execute its 2024 business plan, Mr. Monahan’s insight and perspective will generate significant value for the Company. This appointment
underscores the Board’s commitment to elevated corporate governance, complementing the current composition of our Board with Mr.
Monahan’s proven real estate experience.
“We are delighted to welcome Michael to
our Board of Directors. I am confident in Michael’s ability to seamlessly complement our existing Board members and look forward
to the positive impact he will make,” stated Sue Perrotty, GNL’s Non-Executive Chairperson of the Board of Directors.
“I am thrilled to embark on this journey
as a member of GNL’s Board of Directors, eager to contribute value and support as GNL executes on its business plan. This presents
a unique opportunity for me to leverage my background effectively, and I am committed to assisting the Board in any capacity required,”
stated Michael J. U. Monahan.
About Global Net Lease, Inc.
Global Net Lease, Inc. (NYSE: GNL) is a publicly
traded internally managed real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net
lease assets across the U.S., and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.
Important Notice
The statements in this press release that are
not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause
the outcome to be materially different. The words such as "may," "will," "seeks," "anticipates,"
"believes," "expects," "estimates," "projects," “potential,” “predicts,”
"plans," "intends," “would,” “could,” "should" and similar expressions are intended
to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking
statements are subject to a number of risks, uncertainties and other factors, many of which are outside of GNL's control, which could
cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties
include the risks associated with the recently completed merger with The Necessity Retail REIT, Inc. and the internalization of GNL's
property management and advisory functions; the geopolitical instability due to the ongoing military conflicts between Russia and Ukraine
and Israel and Hamas, including related sanctions and other penalties imposed by the U.S. and European Union, and the related impact on
GNL, GNL's tenants and the global economy and financial markets; that any potential future acquisition by GNL is subject to market conditions
and capital availability and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although
not all risks and uncertainties, that could cause our actual results to differ materially from those presented in our forward-looking
statements are set forth in the Risk Factors and “Quantitative and Qualitative Disclosures about Market Risk” in our Annual
Report on Form 10-K, our Quarterly Reports on Form 10-Q, and our other filings with the U.S. Securities and Exchange Commission after
that date, as such risks, uncertainties and other important factors may be updated from time to time in our subsequent reports. Further,
forward-looking statements speak only as of the date they are made, and GNL undertakes no obligation to update or revise any forward-looking
statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless
required by law.
Contacts:
Investor Relations
Email: investorrelations@globalnetlease.com
Phone: (332) 265-2020 |
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