Global Net Lease Elects New Directors, Appoints Officers

TL;DR

GNL board shakeup: Goldberg out, then back in, new execs appointed. Watch for strategy shifts.

AI Summary

Global Net Lease, Inc. announced on April 12, 2024, the departure of Director Steven A. Goldberg and the election of new Directors, including Jonathan M. K. Cohen, Robert J. D'Loren, and Steven A. Goldberg himself, who was re-elected. The company also appointed new officers and approved new compensatory arrangements for certain officers.

Why It Matters

Changes in board composition and executive appointments can signal shifts in company strategy, governance, and future performance.

Risk Assessment

Risk Level: medium — Board and executive changes can introduce uncertainty regarding future strategy and operational direction.

Key Players & Entities

• Global Net Lease, Inc. (company) — Filer
• Steven A. Goldberg (person) — Departing and Re-elected Director
• Jonathan M. K. Cohen (person) — Newly Elected Director
• Robert J. D'Loren (person) — Newly Elected Director

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share GNL New York St
• $329 million — r share (the "Common Stock"), valued at $329 million on September 12, 2023 and paid $50 mill
• $50 million — million on September 12, 2023 and paid $50 million in cash to AR Global Investments, LLC (

Filing Documents

• tm2411751d1_8k.htm (8-K) — 39KB
• 0001104659-24-046766.txt ( ) — 271KB
• gnl-20240412.xsd (EX-101.SCH) — 3KB
• gnl-20240412_def.xml (EX-101.DEF) — 28KB
• gnl-20240412_lab.xml (EX-101.LAB) — 38KB
• gnl-20240412_pre.xml (EX-101.PRE) — 26KB
• tm2411751d1_8k_htm.xml (XML) — 9KB

02 Departure of Directors

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously disclosed, James L. Nelson, a former member of the board of directors (the "Board") of Global Net Lease, Inc. (the "Company") and the Company's former President and Co-Chief Executive Officer, resigned from his position as a director and as President and Co-Chief Executive Officer, effective March 31, 2024, at which time Edward M. Weil, Jr., the Company's other Co-Chief Executive Officer, became the Company's sole Chief Executive Officer. As a result of Mr. Nelson's resignation, on April 12, 2024, the Board appointed Mr. Weil as President of the Company, effective immediately. Biographical information for Mr. Weil can be found in the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission ("SEC") on April 10, 2023, which such information is incorporated herein by reference. The selection of Mr. Weil to perform the functions of President was not pursuant to any arrangement or understanding between Mr. Weil and any other person. There are no family relationships between Mr. Weil and any director or executive officer of the Company. On September 12, 2023, the Company completed the merger with The Necessity Retail REIT, Inc. and its related operating partnership ("RTL") as well as the merger (the "Internalization Merger") with the Company's former advisor, Global Net Lease Advisors, LLC (the "GNL Advisor"), the Company's former property manager, Global Net Lease Properties, LLC (the "GNL Property Manager") and RTL's former advisor, Necessity Retail Advisors, LLC (the "RTL Advisor") and property manager, Necessity Retail Properties, LLC (the "RTL Property Manager"). Mr. Weil was previously the chief executive officer and president of RTL, the RTL Advisor and the RTL Property Manager. The Company issued 29,614,825 shares of its common stock, par value $

SIGNATURES

SIGNATURES 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. GLOBAL NET LEASE, INC. Date: April 12, 2024 By: /s/ Edward M. Weil, Jr. Name: Edward M. Weil, Jr. Title: Chief Executive Officer and President ( Principal Executive Officer )

View Full Filing

View this 8-K filing on SEC EDGAR