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Shares of class A common stock, as described below, were issued in reliance on Sections 3(a)(9) or 4(a)(2) of the Securities Act of 1933, as amended.
−Removed: Conversion of Class B Common Stock
−Removed: Each holder of class B common stock had the right, at the holder's option, to convert all or a portion of such holder's class B common stock into an equal number of shares of class A common stock.
−Removed: In the second quarter of 2025, 149,571 shares of class A common stock were issued in exchange for an equivalent number of shares of class B common stock, which were cancelled following their conversion.
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 class A common stock on a one-for-one basis.
−Removed: In the second quarter of 2025, 4,350,000 shares of class A common stock were issued in satisfaction of redemption requests by an OP unit holder.
+Added: In the third quarter of 2025, 1,765,237 shares of class A common stock were issued in satisfaction of redemption requests by OP unit holders.
Defaults Upon Senior Securities.
2 unchanged sentences
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.