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

Quarterly report pursuant to Section 13 or 15(d)

Related-Party Transactions (Tables)

Related-Party Transactions (Tables)

6 Months Ended

Jun. 30, 2017

Summary of Management Fees, Incentive Fees and Associated Credits and Administration Fees

The following table summarizes certain related-party fees paid or accrued for and reflected in our accompanying Condensed Consolidated Statements of Operations (dollars in thousands):



	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2017		2016		2017		2016
Management fee⁽¹⁾⁽²⁾	$	530	$	385	$	924	$	773
Incentive fee⁽¹⁾⁽²⁾	76		159		427		159
Net fees due to our Adviser	$	606	$	544	$	1,351	$	932
Administration fee⁽¹⁾⁽²⁾	$	219	$	179	$	445	$	391
Financing Fees to Gladstone Securities⁽³⁾	$	2	$	—	$	2	$	—


⁽¹⁾	Pursuant to the Advisory and Administration Agreements, respectively.


⁽²⁾	Reflected as a line item on our accompanying Condensed Consolidated Statements of Operations.


⁽³⁾	Included in Mortgage notes and bonds payable, net on the Condensed Consolidated Balance Sheets and amortized into Interest expense on the Condensed Consolidated Statements of Operations.

Details of Amounts Due to Related Parties on Our Accompanying Condensed Consolidated Balance Sheets

Amounts due to related parties on our accompanying Condensed Consolidated Balance Sheets as of June 30, 2017, and December 31, 2016, were as follows (dollars in thousands):



	June 30, 2017		December 31, 2016
Management fee due to Adviser	$	530	$	384
Incentive fee due to Adviser	76		169
Other due to Adviser⁽¹⁾	11		2
Total due to Adviser	617		555
Administration fee due to Administrator	219		202
Other due from Administrator⁽¹⁾	—		(6		)
Total due to Administrator	219		196
Total due to related parties⁽²⁾	$	836	$	751


⁽¹⁾	Other fees due to or from related parties primarily relate to miscellaneous general and administrative expenses paid by our Adviser or Administrator on our behalf or by us on our Adviser's or Administrator's behalf.


⁽²⁾	Reflected as a line item on our accompanying Condensed Consolidated Balance Sheets.