7 unchanged sentences
We anticipate that our distributions generally will be taxable as ordinary income to our stockholders, although a portion of the distributions may be designated by us as capital gain or may constitute a return of capital.
−Removed: We will furnish annually to each of our stockholders a statement setting forth distributions paid during the preceding year and their characterization as ordinary income, return of capital, or capital gains.
+Added: We furnish annually to each of our stockholders a statement setting forth distributions paid during the preceding year and their characterization as ordinary income, return of capital, or capital gains.
To the extent that in respect of any calendar year, cash available for distribution is less than our REIT taxable income, determined without regard to the deduction for dividends paid and excluding net capital gain, we could be required to sell assets or borrow funds to make cash distributions or make a portion of the required distribution in the form of a taxable stock distribution or distribution of debt securities.
3 unchanged sentences
Declaration Date Record Date Payment Date Per Share
+Added: March 15, 2022 March 21, 2022 March 31, 2022 $0.45
+Added: May 12, 2022 May 23, 2022 May 31, 2022 $0.45
August 9, 2022 August 22, 2022 August 31, 2022 $0.45
2 unchanged sentences
On June 3, 2021, we entered into a Rule 10b5-1 repurchase plan with Wells Fargo Securities, LLC (the “10b5-1 Plan”).
−Removed: Pursuant to the 10b5-1 Plan, Wells Fargo Securities, LLC, as our agent, will buy in the open market up to $25.0 million in shares of our common stock in the aggregate during the period beginning on the date that is four full calendar weeks from the closing of the IPO and ending 12 months thereafter, unless terminated sooner as specified in the 10b5-1 Plan, including if all the capital committed to the 10b5-1 Plan has been exhausted prior thereto, and otherwise on the terms set forth in the 10b5-1 Plan.
−Removed: Purchases pursuant to the 10b5-1 Plan commenced in July 2021.
−Removed: During the year ended December 31, 2021, we repurchased 272,613 shares of our common stock under the 10b5-1 Plan at an average price per share of $17.14 for a total of $4.7 million.
−Removed: The following table sets forth the number of shares and average price of shares purchased in each month of the fourth quarter of 2021:
−Removed: Month Total number of shares purchased (1)
−Removed: Average price paid per share
−Removed: October 1, 2021 to October 31, 2021 62,181 $ 17.47
−Removed: November 1, 2021 to November 30, 2021 71,037 $ 17.08
−Removed: December 1, 2021 to December 31, 2021 41,942 $ 16.69
−Removed: Total 175,160
−Removed: (1) In June 2021, the Company announced the 10b5-1 Plan, pursuant to which Wells Fargo Securities, LLC, as our agent, will buy in the open market up to $25.0 million in shares of our common stock in the aggregate during the period beginning on the date that is four full calendar weeks from the closing of the IPO and ending 12 months thereafter, unless terminated sooner as specified in the 10b5-1 Plan, including if all the capital committed to the 10b5-1 Plan has been exhausted prior thereto, and otherwise on the terms set forth in the 10b5-1 Plan.
−Removed: All shares purchased were purchased as part of the publicly-announced 10b5-1 Plan described above.
+Added: Purchases pursuant to the 10b5-1 Plan commenced in July 2021, and the 10b5-1 Plan expired in accordance with its terms in July 2022 and was not renewed.
+Added: During the existence of the 10b5-1 Plan, Wells Fargo Securities, LLC, as our agent, had the ability to purchase in the open market up to $25.0 million in shares of our common stock in the aggregate during the period which commenced on the date that was four full calendar weeks from the closing of the IPO and ended 12 months thereafter.
+Added: During the year ended December 31, 2022, 429,333 shares were purchased at an average price paid per share of $15.86 for a total of approximately $6.9 million.
+Added: These shares were subsequently cancelled after purchase and are not considered issued or outstanding.
+Added: There were no purchases of equity securities made by us during the quarter ended December 31, 2022.
+Added: Unregistered Sales of Equity Securities
+Added: There were no unregistered sales of equity securities during the quarter ended December 31, 2022.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.