Getty Realty Corp. Files 8-K: Material Agreement & Financials

TL;DR

Getty Realty Corp. signed a big deal, expect financial updates soon.

AI Summary

On January 23, 2025, Getty Realty Corp. entered into a material definitive agreement, creating a direct financial obligation. The company also made a Regulation FD disclosure and filed financial statements and exhibits as part of this 8-K filing.

Why It Matters

This filing indicates Getty Realty Corp. has entered into a significant agreement that likely involves financial commitments, requiring disclosure to investors.

Risk Assessment

Risk Level: medium — Material definitive agreements and financial obligations can introduce new risks or alter existing ones for a company.

Key Numbers

• 001-13777 — SEC File Number (Identifies the company's filing history with the SEC.)
• 11-3412575 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Getty Realty Corp. (company) — Registrant
• January 23, 2025 (date) — Date of earliest event reported
• Maryland (jurisdiction) — State of Incorporation
• 292 Madison Avenue, 9th Floor, New York, New York 10017-6318 (address) — Principal Executive Offices
• (646) 349-6000 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $450.0 million — y") in an aggregate principal amount of $450.0 million and includes an accordion feature to in
• $300.0 m — ditional aggregate amount not to exceed $300.0 million, subject to certain conditions, i
• $150 million — under the Credit Facility to repay its $150 million senior unsecured term loan that was to

Filing Documents

• gty-20250123.htm (8-K) — 59KB
• gty-ex99_1.htm (EX-99.1) — 13KB
• 0000950170-25-009847.txt ( ) — 195KB
• gty-20250123.xsd (EX-101.SCH) — 30KB
• gty-20250123_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On January 23, 2025, Getty Realty Corp. (the "Company") entered into a Third Amended and Restated Credit Agreement (the "Credit Agreement") with Bank of America, N.A., as administrative agent (the "Agent"), and the lenders (the "Lenders") and other agents party thereto, which amends and restates in its entirety the Second Amended and Restated Credit Agreement dated as of October 27, 2021 by and among the Company, the Agent, the Lenders and the other agents party thereto. The Credit Agreement provides for a revolving credit facility (the "Credit Facility") in an aggregate principal amount of $450.0 million and includes an accordion feature to increase the revolving commitments or add one or more tranches of term loans up to an additional aggregate amount not to exceed $300.0 million, subject to certain conditions, including one or more new or existing lenders agreeing to provide commitments for such increased amount and that no default or event of default shall have occurred and be continuing under the terms of the Credit Facility. The Credit Facility matures January 23, 2029, subject to two six-month extensions (for a total of 12 months) exercisable at the Company's option. The Company's exercise of an extension option is subject to the absence of any default under the Credit Agreement and the Company's compliance with certain conditions, including the payment of extension fees to the Lenders under the Credit Facility and that no default or event of default shall have occurred and be continuing under the terms of the Credit Facility. The Credit Agreement permits borrowings under the Credit Facility at an interest rate equal to (i) the sum of a SOFR rate plus a SOFR adjustment of 0.10% plus a margin of 1.30% to 1.90%, or (ii) the sum of a base rate plus a margin of 0.30% to 0.90%, based on the Company's consolidated total indebtedness to total asset value ratio at the end of each quarterly reporting perio

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On January 23, 2025, the Company issued a press release announcing its entry into the Credit Agreement. The Company's press release is attached as Exhibit 99.1 hereto and is incorporated by reference in this Item 7.01.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 99.1 Press release issued by Getty Realty Corp. on January 23, 2025. 104 Cover Page Interactive Data File (embedded within the inline XBRL document) The information contained in Item 7.01 and Exhibit 99.1 to this Current Report on Form 8-K is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Such information in this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

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 thereunto duly authorized. GETTY REALTY CORP. Date: January 28, 2025 By: /s/ Brian R. Dickman Brian R. Dickman Executive Vice President Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR