Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Shares of class A common stock, as described below, were issued in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended.
Redemption of Membership Units in OP ("OP Units")
Holders of OP Units have the right to require the OP to redeem all or a portion of their OP units for cash or, at our option, shares of our class A common stock on a one-for-one basis. In the first quarter of 2024, in satisfaction of redemption request by a former employee OP Unit holder, 85,000 shares of our class A common stock were issued to the former employee.
Settlement of Wafra Contingent Consideration
In March 2024, 1,020,409 shares of class A common stock were issued to Wafra in settlement of a contingent consideration payable to Wafra in connection with the 2022 redemption of their equity interest in our investment management business.
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.