4 unchanged sentences
Holders of Common Equity
−Removed: On February 18, 2025, there were 1,991 holders of our class A common stock and one holder of our class B common stock (which, in each case, does not reflect the beneficial ownership of shares held in nominee name).
+Added: On February 23, 2026, there were 1,856 holders of our class A common stock (which does not reflect the beneficial ownership of shares held in nominee name) and no holders of our class B common stock.
Holders of our common stock are entitled to receive distributions only if and when our board of directors authorizes and declares distributions.
1 unchanged sentence
No distributions can be paid on our common stock unless we have paid all cumulative dividends on our outstanding preferred stock.
−Removed: We reinstated quarterly common stock dividends in the third quarter of 2022, having previously suspended common stock dividends for the second quarter of 2020 through the second quarter of 2022.
+Added: The Merger Agreement limits our ability to pay dividends while the Merger is pending;
+Added: however, we are permitted to pay cash dividends to holders of our common stock in an amount not to exceed $0.04 per share on an annual basis and to pay dividends to holders of our preferred stock in accordance with its terms, among other limitations.
Recent Sales of Unregistered Securities;
2 unchanged sentences
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.
−Removed: In the fourth quarter of 2024, in satisfaction of a redemption request by a former employee OP Unit holder, we issued 200,000 shares of our class A common stock.
+Added: In the fourth quarter of 2025, 74 shares of class A common stock were issued in satisfaction of a redemption request by an OP unit holder.
Such shares of class A common stock were issued in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended.
7 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.