Gladstone Commercial Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2015

Summary of Changes in Stockholders' Equity

The following table summarizes the changes in our stockholders’ equity for the three months ended March 31, 2015 (dollars in thousands):


																		Distributions in
	Shares Issued												Additional		Notes			Excess of			Total
	Preferred Stock		Senior Common Stock		Common Stock		Preferred Stock		Senior Common Stock		Common Stock		Paid in Capital		Receivable from Employees			Accumulated Earnings			Stockholders’ Equity
Balance at December 31, 2014		2,150,000		809,411		19,589,606	$	2	$	1	$	20	$	369,748	$	(375	)	$	(151,724	)	$	217,672

Issuance of senior common stock and common stock, net		—		192,546		870,081		—		—		—		17,644		—			—			17,644
Distributions declared to common, senior common and preferred stockholders		—		—		—		—		—		—		—		—			(8,853	)		(8,853	)
Net income		—		—		—		—		—		—		—		—			694			694

Balance at March 31, 2015		2,150,000		1,001,957		20,459,687	$	2	$	1	$	20	$	387,392	$	(375	)	$	(159,883	)	$	227,157

Dividends Declared

Our Board of Directors declared the following distributions per share for the three months ended March 31, 2015 and 2014:


	For the three months ended March 31,
	2015		2014
Common Stock	$	0.375	$	0.375
Senior Common Stock		0.2625		0.2625
Series A Preferred Stock		0.4843749		0.4843749
Series B Preferred Stock		0.4688		0.4688
Series C Preferred Stock		0.4453		0.4453

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