Industrial Logistics Properties Trust Announces Annual Meeting Results
NEWTON, Mass.--(BUSINESS WIRE)-- Industrial Logistics Properties Trust (Nasdaq: ILPT) announced the results of its 2022 Annual Meeting of Shareholders which was held today.
Lisa Harris Jones was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:
Independent Trustee | Percentage of Shares Voted – For | |
Lisa Harris Jones | 69.2% |
Joseph L. Morea was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:
Independent Trustee | Percentage of Shares Voted – For | |
Joseph L. Morea | 63.5% |
Kevin C. Phelan was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:
Independent Trustee | Percentage of Shares Voted – For | |
Kevin C. Phelan | 69.9% |
John G. Murray was re-elected as a Managing Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:
Managing Trustee | Percentage of Shares Voted – For | |
John G. Murray | 96.8% |
Shareholders voted to approve executive compensation by means of an advisory vote. The final tabulation of the percentage of shareholders’ votes cast for this proposal is as follows:
Proposal | Percentage of Shares Voted – For | |
Approval of Executive Compensation | 89.9% |
Shareholders ratified the appointment of Deloitte & Touche LLP as ILPT’s independent auditors for the 2022 fiscal year. The final tabulation of the percentage of shareholders’ votes cast for this proposal is as follows:
Proposal | Percentage of Shares Voted – For | |
Ratification of Independent Auditors | 98.4% |
Following the Annual Meeting of Shareholders, ILPT’s Board of Trustees elected Matt Jordan as a Managing Trustee, effective immediately, to fill the vacancy caused by the resignation of John G. Murray. Mr. Jordan will serve the remainder of Mr. Murray’s term until he stands for election at the 2023 annual meeting.
Mr. Jordan is Executive Vice President, Chief Financial Officer and Treasurer of The RMR Group (Nasdaq: RMR) and a member of the RMR Executive Operating Committee. Mr. Jordan also serves as a Managing Trustee of Seven Hills Realty Trust (Nasdaq: SEVN) and is also Director, President and Chief Executive Officer of Tremont Realty Capital LLC, an SEC registered investment adviser.
Industrial Logistics Properties Trust (Nasdaq: ILPT) is a real estate investment trust, or REIT, focused on owning and leasing high quality distribution and logistics properties that serve the growing needs of e-commerce. As of March 31, 2022, ILPT’s portfolio consisted of 412 properties containing approximately 59.7 million rentable square feet located in 39 states. Approximately 77% of ILPT’s annual rental revenues are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with more than $37 billion in assets under management as of March 31, 2022 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. ILPT is headquartered in Newton, MA. For more information, visit www.ilptreit.com.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220601006207/en/
Kevin Barry, Director, Investor Relations
(617) 658-0776
www.ilptreit.com
Source: Industrial Logistics Properties Trust
Industrial Logistics Properties Trust
Symbol: ILPT
CIK: 1717307
Exchange: NASDAQ
Founded: 2017 (7 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Micro-Cap
REIT Sector: Industrial
Externally Managed REIT
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
Latest Price: $3.45
Previous Close: $3.49
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Last updated: 2024-12-03 - v1.3