Gladstone Commercial Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2014

Our Board of Directors declared the following distributions per share for the years ended December 31, 2014, 2013, and 2012:


	For the year ended December 31,
	2014		2013		2012
Common Stock	$	1.50	$	1.50	$	1.50
Senior Common Stock		1.05		1.05		1.05
Series A Preferred Stock		1.9374996		1.9374996		1.9374996
Series B Preferred Stock		1.8750		1.8750		1.8750
Series C Preferred Stock		1.7813		1.7813		1.6328	⁽¹⁾

⁽¹⁾	The Series C Preferred Stock was issued on January 31, 2012.

Summary of Changes in Stockholders' Equity

The characterization of distributions during each of the last three years is reflected in the table below:


	Ordinary Income			Return of Capital
Common Stock
For the year ended December 31, 2012		0.00000	%		100.00000	%
For the year ended December 31, 2013		18.32962	%		81.67038	%
For the year ended December 31, 2014		0.00000	%		100.00000	%

Senior Common Stock
For the year ended December 31, 2012		0.00000	%		100.00000	%
For the year ended December 31, 2013		100.00000	%		0.00000	%
For the year ended December 31, 2014		0.00000	%		100.00000	%

Series A Preferred Stock
For the year ended December 31, 2012		91.70830	%		8.29170	%
For the year ended December 31, 2013		100.00000	%		0.00000	%
For the year ended December 31, 2014		24.10732	%		75.89268	%

Series B Preferred Stock
For the year ended December 31, 2012		91.70830	%		8.29170	%
For the year ended December 31, 2013		100.00000	%		0.00000	%
For the year ended December 31, 2014		24.10732	%		75.89268	%

Series C Preferred Stock
For the year ended December 31, 2012		91.70830	%		8.29170	%
For the year ended December 31, 2013		100.00000	%		0.00000	%
For the year ended December 31, 2014		24.10732	%		75.89268	%

Summary of Outstanding Note Issued to Employee for Exercise of Stock Options

The following table is a summary of the outstanding note issued to an employee of the Adviser for the exercise of stock options (dollars in thousands):


Date Issued	Outstanding Balance of Employee Loan at December 31, 2014		Outstanding Balance of Employee Loan at December 31, 2013		Maturity Date of Note	Interest Rate on Note
Nov 2006	$	375	$	375	Nov 2015		8.15	%