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Gaming & Leisure Properties, Inc. – ‘10-K’ for 12/31/21 – ‘EX-10.32’

On:  Thursday, 2/24/22, at 4:32pm ET   ·   For:  12/31/21   ·   Accession #:  1575965-22-5   ·   File #:  1-36124

Previous ‘10-K’:  ‘10-K’ on 2/19/21 for 12/31/20   ·   Next:  ‘10-K’ on 2/23/23 for 12/31/22   ·   Latest:  ‘10-K’ on 2/27/24 for 12/31/23   ·   37 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/24/22  Gaming & Leisure Properties, Inc. 10-K       12/31/21  128:16M

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.92M 
 2: EX-4.22     Instrument Defining the Rights of Security Holders  HTML    224K 
 3: EX-10.30    Material Contract                                   HTML     41K 
 4: EX-10.31    Material Contract                                   HTML     41K 
 5: EX-10.32    Material Contract                                   HTML     40K 
 6: EX-10.33    Material Contract                                   HTML     40K 
 7: EX-10.34    Material Contract                                   HTML     48K 
 8: EX-10.35    Material Contract                                   HTML     48K 
 9: EX-10.36    Material Contract                                   HTML     51K 
10: EX-10.37    Material Contract                                   HTML     51K 
11: EX-10.38    Material Contract                                   HTML     51K 
12: EX-10.40    Material Contract                                   HTML    637K 
13: EX-21       Subsidiaries List                                   HTML     36K 
14: EX-22.1     Published Report re: Matters Submitted to a Vote    HTML     35K 
                of Security Holders                                              
15: EX-23       Consent of Expert or Counsel                        HTML     34K 
16: EX-31.1     Certification -- §302 - SOA'02                      HTML     39K 
17: EX-32.1     Certification -- §906 - SOA'02                      HTML     35K 
23: R1          Cover                                               HTML     98K 
24: R2          Audit Information                                   HTML     39K 
25: R3          Consolidated Balance Sheets                         HTML    144K 
26: R4          Consolidated Balance Sheets (Parenthetical)         HTML     51K 
27: R5          Consolidated Statements of Income                   HTML    139K 
28: R6          Consolidated Statements of Changes in               HTML     98K 
                Shareholders' Equity                                             
29: R7          Consolidated Statements of Changes in               HTML     37K 
                Shareholders' Equity (Deficit) (Parenthetical)                   
30: R8          Consolidated Statements of Cash Flows               HTML    133K 
31: R9          Supplemental Disclosures of Cash Flow Information   HTML     45K 
                and Noncash Activities                                           
32: R10         Business and Basis of Presentation                  HTML     66K 
33: R11         Summary of Significant Accounting Policies          HTML     86K 
34: R12         New Accounting Pronouncements                       HTML     47K 
35: R13         Real Estate Investments                             HTML     46K 
36: R14         Property and Equipment Used in Operations           HTML     46K 
37: R15         Assets Held for Sale                                HTML     56K 
38: R16         Acquisitions                                        HTML     67K 
39: R17         Investment in leases, financing receivables, net    HTML     58K 
                and other receivables                                            
40: R18         Lease Assets and Lease Liabilities Lease Assets     HTML     91K 
                and Lease Liabilities                                            
41: R19         Goodwill and Intangible Assets                      HTML     36K 
42: R20         Fair Value of Financial Assets and Liabilities      HTML     59K 
                Fair Value of Financial Assets and Liabilities                   
43: R21         Long-term Debt                                      HTML     74K 
44: R22         Commitments and Contingencies                       HTML     42K 
45: R23         Revenue Recognition                                 HTML     85K 
46: R24         Stock-Based Compensation                            HTML     63K 
47: R25         Income Taxes                                        HTML    105K 
48: R26         Earnings Per Share Earnings Per Share               HTML     67K 
49: R27         Shareholders' Equity                                HTML    108K 
50: R28         Segment Information                                 HTML     92K 
51: R29         Schedule III Real Estate Assets and Accumulated     HTML    340K 
                Depreciation                                                     
52: R30         Schedule IV Mortgage Loans on Real Estate           HTML     45K 
53: R31         Summary of Significant Accounting Policies          HTML    108K 
                (Policies)                                                       
54: R32         Summary of Significant Accounting Policies          HTML     38K 
                (Tables)                                                         
55: R33         Real Estate Investments (Tables)                    HTML     44K 
56: R34         Property and Equipment Used in Operations (Tables)  HTML     46K 
57: R35         Assets Held for Sale (Tables)                       HTML     53K 
58: R36         Acquisitions (Tables)                               HTML     57K 
59: R37         Investment in leases, financing receivables, net    HTML     55K 
                and other receivables (Tables)                                   
60: R38         Lease Assets and Lease Liabilities Lease Assets     HTML     93K 
                and Lease Liabilities (Tables)                                   
61: R39         Fair Value of Financial Assets and Liabilities      HTML     54K 
                Fair Value of Financial Assets and Liabilities                   
                (Tables)                                                         
62: R40         Long-term Debt (Tables)                             HTML     64K 
63: R41         Revenue Recognition (Tables)                        HTML     60K 
64: R42         Stock-Based Compensation (Tables)                   HTML     62K 
65: R43         Income Taxes (Tables)                               HTML    105K 
66: R44         Earnings Per Share Earnings Per Share (Tables)      HTML     69K 
67: R45         Shareholders' Equity (Tables)                       HTML     98K 
68: R46         Segment Information (Tables)                        HTML     89K 
69: R47         Supplemental Disclosures of Cash Flow Information   HTML     41K 
                and Noncash Activities (Tables)                                  
70: R48         Business and Basis of Presentation - Narrative      HTML    282K 
                (Details)                                                        
71: R49         Summary of Significant Accounting Policies (Real    HTML     40K 
                Estate Investments) (Details)                                    
72: R50         Summary of Significant Accounting Policies          HTML     53K 
                (Property and Equipment Used in Operations)                      
                (Details)                                                        
73: R51         Summary of Significant Accounting Policies (Cash    HTML     37K 
                and Cash Equivalents) (Details)                                  
74: R52         Summary of Significant Accounting Policies (Income  HTML     40K 
                Taxes) (Details)                                                 
75: R53         Summary of Significant Accounting Policies          HTML     35K 
                (Segment Information) (Details)                                  
76: R54         Summary of Significant Accounting Policies          HTML     37K 
                (Concentration of Credit Risk) (Details)                         
77: R55         Real Estate Investments (Details)                   HTML     49K 
78: R56         Property and Equipment Used in Operations           HTML     51K 
                (Schedule of Property and Equipment) (Details)                   
79: R57         Assets Held for Sale (Details)                      HTML     57K 
80: R58         Assets Held for Sale - Schedule of Assets Held for  HTML     80K 
                Sale (Details)                                                   
81: R59         Acquisitions (Narrative) (Details)                  HTML     94K 
82: R60         Acquisitions (Hotel Maryland) (Details)             HTML     44K 
83: R61         Acquisitions (Purchase Price Allocation) (Details)  HTML     51K 
84: R62         Acquisitions (Tropicana Las Vegas) (Details)        HTML     50K 
85: R63         Acquisitions (Tropicana Evansville) (Details)       HTML     56K 
86: R64         Investment in leases, financing receivables, net    HTML     53K 
                and other receivables - Summary of Company's                     
                Investment in Leases (Details)                                   
87: R65         Investment in leases, financing receivables, net    HTML     50K 
                and other receivables - Maturity (Details)                       
88: R66         Investment in leases, financing receivables, net    HTML     41K 
                and other receivables - Direct Financing Leases                  
                (Details)                                                        
89: R67         Investment in leases, financing receivables, net    HTML     77K 
                and other receivables (Narrative) (Details)                      
90: R68         Lease Assets and Lease Liabilities Lease Assets     HTML     49K 
                and Lease Liabilities (Lease Assets) (Details)                   
91: R69         Lease Assets and Lease Liabilities Lease Assets     HTML     65K 
                and Lease Liabilities (Land Rights) (Details)                    
92: R70         Lease Assets and Lease Liabilities Lease Assets     HTML     53K 
                and Lease Liabilities (Lease Maturity Schedule)                  
                (Details)                                                        
93: R71         Lease Assets and Lease Liabilities Lease Assets     HTML     47K 
                and Lease Liabilities (Components of Lease                       
                Expense) (Details)                                               
94: R72         Lease Assets and Lease Liabilities Lease Assets     HTML     38K 
                and Lease Liabilities (Supplemental Balance Sheet                
                Information) (Details)                                           
95: R73         Lease Assets and Lease Liabilities Lease Assets     HTML     41K 
                and Lease Liabilities (Supplemental Cash Flow                    
                Information) (Details)                                           
96: R74         Lease Assets and Lease Liabilities (Finance Lease   HTML     53K 
                Payments) (Details)                                              
97: R75         Fair Value of Financial Assets and Liabilities      HTML     54K 
                Fair Value of Financial Assets and LIabilities                   
                (Assets and Liabilities Measured at Fair Value on                
                a Recurring Basis) (Details)                                     
98: R76         Long-term Debt (Schedule of Long-Term Debt)         HTML     94K 
                (Details)                                                        
99: R77         Long-term Debt (Maturities of Long-Term Debt)       HTML     48K 
                (Details)                                                        
100: R78         Long-term Debt (Senior Unsecured Credit Facility)   HTML     91K  
                (Details)                                                        
101: R79         Long-term Debt (Senior Unsecured Notes) (Details)   HTML    106K  
102: R80         Commitments and Contingencies (Employee Benefit     HTML     51K  
                Plans) (Details)                                                 
103: R81         Revenue Recognition (Narrative) (Details)           HTML    196K  
104: R82         Revenue Recognition Revenue Recognition (Rental     HTML     52K  
                Income Table) (Details)                                          
105: R83         Revenue Recognition (Future Minimum Lease Payments  HTML     91K  
                Receivable - Operating Leases (Details)                          
106: R84         Stock-Based Compensation (Narrative) (Details)      HTML     63K  
107: R85         Stock-Based Compensation (Restricted Stock Award    HTML     58K  
                Activity) (Details)                                              
108: R86         Stock-Based Compensation (Performance-Based         HTML     58K  
                Restricted Stock Awards Activity) (Details)                      
109: R87         Income Taxes (Deferred Tax Assets and Liabilities)  HTML     59K  
                (Details)                                                        
110: R88         Income Taxes (Narrative) (Details)                  HTML     35K  
111: R89         Income Taxes (Provision for Income Taxes - Current  HTML     57K  
                and Deferred) (Details)                                          
112: R90         Income Taxes (Effective Income Tax Rate             HTML     55K  
                Reconciliation, Percent) (Details)                               
113: R91         Income Taxes (Effective Income Tax Rate             HTML     53K  
                Reconciliation, Amount) (Details)                                
114: R92         Earnings Per Share Earnings Per Share (Weighted     HTML     47K  
                Average Common Shares Outstanding) (Details)                     
115: R93         Earnings Per Share Earnings Per Share (EPS          HTML     77K  
                Calculations) (Details)                                          
116: R94         Shareholders' Equity (Common Stock) (Details)       HTML     71K  
117: R95         Shareholders' Equity (Dividends Declared and Paid)  HTML     63K  
                (Details)                                                        
118: R96         Shareholders' Equity (Dividend Classification)      HTML     57K  
                (Details)                                                        
119: R97         Segment Information (Details)                       HTML    111K  
120: R98         Supplemental Disclosures of Cash Flow Information   HTML     39K  
                and Noncash Activities (Supplemental Cash Flow                   
                Information) (Details)                                           
121: R99         Supplemental Disclosures of Cash Flow Information   HTML     47K  
                and Noncash Activities (Noncash Investing and                    
                Financing Activities) (Details)                                  
122: R100        Schedule III Real Estate Assets and Accumulated     HTML    475K  
                Depreciation (Details)                                           
123: R101        Schedule IV Mortgage Loans on Real Estate           HTML     43K  
                Reconciliation of Loans on Real Estate (Details)                 
126: XML         IDEA XML File -- Filing Summary                      XML    233K  
124: XML         XBRL Instance -- glpi-20211231_htm                   XML   3.76M  
125: EXCEL       IDEA Workbook of Financial Reports                  XLSX    180K  
19: EX-101.CAL  XBRL Calculations -- glpi-20211231_cal               XML    328K 
20: EX-101.DEF  XBRL Definitions -- glpi-20211231_def                XML   1.11M 
21: EX-101.LAB  XBRL Labels -- glpi-20211231_lab                     XML   2.60M 
22: EX-101.PRE  XBRL Presentations -- glpi-20211231_pre              XML   1.65M 
18: EX-101.SCH  XBRL Schema -- glpi-20211231                         XSD    320K 
127: JSON        XBRL Instance as JSON Data -- MetaLinks              575±   847K  
128: ZIP         XBRL Zipped Folder -- 0001575965-22-000005-xbrl      Zip    765K  


‘EX-10.32’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



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  Document  

GAMING AND LEISURE PROPERTIES, INC.
RESTRICTED STOCK AWARD TERMS
DIRECTOR AWARD – QUARTERLY VESTING
All Restricted Stock is subject to the provisions of the Gaming and Leisure Properties, Inc. 2013 Long Term Incentive Compensation Plan (the “Plan”) and any rules and regulations established by the Compensation and Governance Committee of the Board of Directors of Gaming and Leisure Properties, Inc. A copy of the Plan is available on the Merrill Lynch website under Document Library/Plan Documents. Unless specifically defined herein, words used herein with initial capitalized letters are defined in the Plan.
The terms provided herein are applicable to Restricted Stock Awards. Different terms may apply to any future awards under the Plan.
I.PAYMENT FOR SHARES
There is no exercise price or other payment required in exchange for a Restricted Stock Award.
II.FORFEITURE RESTRICTIONS/LAPSE OF RESTRICTIONS
Restricted Stock Awards are subject to forfeiture until lapse of such forfeiture restrictions at the rate of 25% quarterly, measured from the date the award is granted. In the event of an Award holder’s death, disability, retirement or other termination of employment or service as a director, the forfeiture restrictions on a Restricted Stock Award shall lapse or shares of Restricted Stock forfeited as follows:
A.Death and Disability: On the date of death or termination of employment as a result of a Disability (as determined by the Plan) all remaining restrictions will lapse.
B.Change of Control (as defined by the Plan): All remaining restrictions will lapse.
C.All Other Termination Events: All shares subject to forfeiture restrictions on the date of termination (as defined by the Plan) shall be forfeited.
The “lapse” of such forfeiture restrictions means that the Common Stock subject to the Award shall, thereafter, be fully transferable by the Award holder, subject to compliance with Section VI of these Award terms. Until the lapse of such forfeiture restrictions an Award holder may not sell, transfer, pledge or otherwise dispose of the shares of Common Stock subject to a Restricted Stock Award. There are no additional events or occurrences that shall lead to lapse of any forfeiture restrictions on this Award.
III.LEAVES OF ABSENCE
For purposes of a Restricted Stock Award, service as an employee or director, as applicable, does not terminate with a leave of absence. Please refer to Section 12.12 of the Plan for the impact of a leave of absence.
IV.STOCK CERTIFICATES
During the restricted period the shares underlying a Restricted Stock Award will be held for the holder by the Company. After the lapse of any applicable forfeiture restrictions,
Restricted Stock Award – Quarterly Vesting


the shares of Common Stock will be released to the Award holder in the form of uncertificated shares.

V.VOTING AND DIVIDEND RIGHTS
An Award holder may vote the shares Common Stock underlying a Restricted Stock Award and will receive any dividends paid with respect to such shares even before the lapse of forfeiture restrictions. Dividends with respect to a Restricted Stock Award will be paid on the same date or dates that dividends are payable on the Common Stock to Company shareholders generally.

VI.WITHHOLDING TAXES
No evidence of shares of Common Stock will be released or issued to an Award holder unless such holder has made arrangements, acceptable to the Company, to pay any withholding taxes that may be due as a result of the lapse of the forfeiture restrictions. In accordance with the Plan, an Award holder is authorized to make payment of any such withholding tax in cash, by payroll deduction, by authorizing the Company to withhold shares of Common Stock from this Award or by surrendering to the Company shares of Common Stock already owned by such holder. In the event an Award holder elects to authorize the Company to withhold shares of Common Stock from this Award, such holder can only authorize the retention of shares of Common Stock equal to the minimum tax withholding obligation. The fair market value of the shares of Common Stock retained by the Company or surrendered by an Award holder shall be determined in accordance with the Plan as of the date the tax obligation arises.

VII.NO RIGHT TO CONTINUED SERVICE
A Restricted Stock Award does not give the holder the right to continue in service with the Company in any capacity. The Company reserves the right to terminate a holder’s services at any time, with or without cause, subject to any employment agreement or other contract.

VIII.ADJUSTMENTS
In the event of a stock split, a stock dividend or a similar change in the Common Stock, the number of shares of Restricted Stock subject to a Restricted Stock Award that remain subject to forfeiture will be adjusted accordingly.

Restricted Stock Award – Quarterly Vesting

9 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/27/24  Gaming & Leisure Properties, Inc. 10-K       12/31/23  120:14M
11/17/23  Gaming & Leisure Properties, Inc. 424B2                  2:1.6M                                   Donnelley … Solutions/FA
11/15/23  Gaming & Leisure Properties, Inc. 424B5                  1:1.6M                                   Donnelley … Solutions/FA
 2/23/23  Gaming & Leisure Properties, Inc. 10-K       12/31/22  110:17M
12/21/22  Gaming & Leisure Properties, Inc. 424B5                  2:1.4M                                   Donnelley … Solutions/FA
 8/12/22  Gaming & Leisure Properties, Inc. 424B5                  2:1.4M                                   Donnelley … Solutions/FA
 8/12/22  Gaming & Leisure Properties, Inc. S-3ASR      8/12/22    7:1.4M                                   Donnelley … Solutions/FA
 6/30/22  Gaming & Leisure Properties, Inc. 424B2                  2:769K                                   Donnelley … Solutions/FA
 6/28/22  Gaming & Leisure Properties, Inc. 424B5                  1:743K                                   Donnelley … Solutions/FA


28 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/29/21  Gaming & Leisure Properties, Inc. 8-K:1,3,7,812/29/21   12:734K                                   Donnelley … Solutions/FA
12/17/21  Gaming & Leisure Properties, Inc. 8-K:2,9    12/13/21   11:375K                                   Donnelley … Solutions/FA
 7/29/20  Gaming & Leisure Properties, Inc. 8-K:5,7,9   7/27/20   12:235K                                   Donnelley … Solutions/FA
 7/01/20  Gaming & Leisure Properties, Inc. 8-K:2,9     6/25/20   12:1.4M                                   Donnelley … Solutions/FA
 5/01/20  Gaming & Leisure Properties, Inc. 10-Q        3/31/20   86:7.2M
 4/29/20  Gaming & Leisure Properties, Inc. DEF 14A     6/11/20    1:4M                                     Broadridge Fin’l So… Inc
 9/05/19  Gaming & Leisure Properties, Inc. 8-K:1,2,8,9 8/29/19   14:649K                                   Donnelley … Solutions/FA
 2/13/19  Gaming & Leisure Properties, Inc. 10-K       12/31/18  124:22M
 2/04/19  Gaming & Leisure Properties, Inc. 8-K:5,9     1/29/19    2:111K
11/01/18  Gaming & Leisure Properties, Inc. 10-Q        9/30/18   79:13M
10/16/18  Gaming & Leisure Properties, Inc. 8-K:1,7,9  10/15/18    4:813K                                   Donnelley … Solutions/FA
 9/26/18  Gaming & Leisure Properties, Inc. 8-K:2,9     9/26/18    2:215K                                   Donnelley … Solutions/FA
 8/01/18  Gaming & Leisure Properties, Inc. 10-Q        6/30/18   78:13M
 6/15/18  Gaming & Leisure Properties, Inc. 8-K:5,8,9   6/14/18    3:411K
 5/22/18  Gaming & Leisure Properties, Inc. 8-K:1,2,8,9 5/21/18    6:1.3M                                   Donnelley … Solutions/FA
12/19/17  Gaming & Leisure Properties, Inc. 8-K:1,7,9  12/17/17    3:161K
 5/03/17  Gaming & Leisure Properties, Inc. 10-Q        3/31/17   78:13M
 2/22/17  Gaming & Leisure Properties, Inc. 10-K       12/31/16  126:22M
11/09/16  Gaming & Leisure Properties, Inc. 10-Q        9/30/16   90:17M
 4/28/16  Gaming & Leisure Properties, Inc. 8-K:1,2,7,9 4/28/16    7:1.2M                                   Donnelley … Solutions/FA
 3/28/16  Gaming & Leisure Properties, Inc. 8-K:1,9     3/25/16    3:242K
 3/28/16  Gaming & Leisure Properties, Inc. 8-K:7,8,9   3/28/16    4:150K                                   Donnelley … Solutions/FA
 8/28/15  Gaming & Leisure Properties, Inc. S-4                    7:3.5M                                   Donnelley … Solutions/FA
 7/22/15  Gaming & Leisure Properties, Inc. 8-K:1,8,9   7/20/15    3:2.7M
 8/01/14  Gaming & Leisure Properties, Inc. 10-Q        6/30/14   60:17M                                    Toppan Merrill/FA
 5/12/14  Gaming & Leisure Properties, Inc. 10-Q        3/31/14   53:9M                                     Toppan Merrill/FA
11/07/13  Gaming & Leisure Properties, Inc. 8-K:1,9    11/01/13    6:2.1M                                   Toppan Merrill/FA
11/01/13  Gaming & Leisure Properties, Inc. 8-K:1,2,9  10/28/13    8:4.2M                                   Toppan Merrill/FA
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Filing Submission 0001575965-22-000005   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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