GLPI Announces Executive Changes and New Directors

TL;DR

GLPI CFO Matthew Demchyk out, Peter Clifford in Oct 1. New directors elected.

AI Summary

Gaming & Leisure Properties, Inc. (GLPI) announced on September 27, 2024, a series of executive changes. These include the appointment of Peter L. Clifford as Chief Financial Officer, effective October 1, 2024, and the departure of current CFO, Matthew J. Demchyk. Additionally, the company announced the election of new directors and changes in officer roles.

Why It Matters

This filing signals a shift in the financial leadership of Gaming & Leisure Properties, Inc., which could impact investor confidence and the company's strategic financial direction.

Risk Assessment

Risk Level: medium — Changes in key executive positions, particularly the CFO, can introduce uncertainty regarding future financial strategy and performance.

Key Players & Entities

• Gaming & Leisure Properties, Inc. (company) — Registrant
• Peter L. Clifford (person) — Appointed Chief Financial Officer
• Matthew J. Demchyk (person) — Departing Chief Financial Officer
• September 27, 2024 (date) — Date of Report
• October 1, 2024 (date) — Effective date for new CFO

FAQ

Key Financial Figures

• $650,000 — se to Mr. Moore's annual base salary to $650,000 and increased Mr. Moore's target and ma

Filing Documents

• glpi-20240927.htm (8-K) — 32KB
• moorepressrelease.htm (EX-99.1) — 10KB
• image1a01a20.jpg (GRAPHIC) — 4KB
• 0001575965-24-000031.txt ( ) — 174KB
• glpi-20240927.xsd (EX-101.SCH) — 2KB
• glpi-20240927_lab.xml (EX-101.LAB) — 21KB
• glpi-20240927_pre.xml (EX-101.PRE) — 12KB
• glpi-20240927_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 27, 2024, the Board of Directors (the "Board") of Gaming and Leisure Properties, Inc. (the "Company") promoted Brandon Moore, the Company's Chief Operating Officer, Chief Legal Counsel and Secretary, to serve in the additional role of President of the Company, effective immediately. Mr. Moore, age 50, joined the Company in January 2014 as Senior Vice President and General Counsel and was appointed to the role of Chief Operating Officer in October 2022. Mr. Moore previously served as Vice President, Senior Corporate Counsel at Penn National Gaming, Inc. (now PENN Entertainment, Inc.) from February 2010 to 2014 where he was a senior member of the legal team responsible for a variety of transactional, regulatory and general legal matters. Prior to joining PENN Entertainment, Mr. Moore was Of Counsel to Ballard Spahr, LLP, a Philadelphia based law firm where he provided advanced legal counsel to private and public clients on a wide variety of legal, compliance and regulatory matters. He earned a B.S. in Finance with high distinction from Pennsylvania State University in 1996 and received his J.D. from the University of Pennsylvania Law School in 1999. In connection with Mr. Moore's appointment as the President of the Company, on September 27, 2024, the Compensation Committee of the Board approved an increase to Mr. Moore's annual base salary to $650,000 and increased Mr. Moore's target and maximum opportunities under the Company's annual cash bonus program to 100% and 200%, respectively, of his base salary. For 2024, these increased bonus opportunities, tied to his increased base salary, will apply for one quarter of the year. Mr. Moore was not appointed pursuant to any arrangement or understanding with any other person, has no family relationships with any of the Company's directors or executi

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. A copy of the press release, dated September 30, 2024, announcing the appointment of Mr. Moore to the additional role of President, is filed as Exhibit 99.1 to this Current Report on Form 8-K, and incorporated herein by reference. The press release is being furnished pursuant to Item 7.01, and the information contained therein shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item9.01.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release dated September 30, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE 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. Dated: September 30, 2024 GAMING AND LEISURE PROPERTIES, INC. By: /s/ Desiree A. Burke Name: Desiree A. Burke Title: Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR