Quarterly report pursuant to Section 13 or 15(d)

Related-Party Transactions (Tables)

v3.23.3
Related-Party Transactions (Tables)
 9 Months Ended
Sep. 30, 2023
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following tables summarizes the total Selling Commissions and Dealer-Manager Fees paid to Gladstone Securities during the three and nine months ended September 30, 2023 and 2022 (dollars in thousands):
For the Three Months Ended September 30, For the Nine Months Ended September 30,
2023 2022 2023 2022
Series C Preferred Stock $ —  $ 5,046  $ —  $ 11,115 
Series E Preferred Stock 215  —  547  — 
Total Selling Commissions and Dealer-Manager Fees $ 215  $ 5,046  $ 547  $ 11,115 
The following table summarizes related-party fees paid or accrued for and reflected in our accompanying condensed consolidated financial statements (dollars in thousands):
  For the Three Months Ended September 30, For the Nine Months Ended September 30,
  2023 2022 2023 2022
Base management fee(1)(2)
$ 2,150  $ 2,086  $ 6,447  $ 6,165 
Incentive fee(1)(2)
789  505  789  1,636 
Total fees to our Adviser $ 2,939  $ 2,591  $ 7,236  $ 7,801 
Administration fee(1)(2)
$ 619  $ 543  $ 1,708  $ 1,470 
Selling Commissions and Dealer-Manager Fees(1)(3)
$ 215  $ 5,046  $ 547  $ 11,115 
Financing fees(1)(4)
—  23  —  117 
Total fees to Gladstone Securities $ 215  $ 5,069  $ 547  $ 11,232 
(1)Pursuant to the agreements with the respective related-party entities, as discussed above.
(2)Reflected as a line item on our accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.
(3)Included within Additional paid-in capital on the accompanying Condensed Consolidated Balance Sheets.
(4)Included within Notes and bonds payable, net on the Condensed Consolidated Balance Sheets and amortized into Interest expense on the Condensed Consolidated Statements of Operations and Comprehensive Income.
Amounts due to related parties on our accompanying Condensed Consolidated Balance Sheets as of September 30, 2023, and December 31, 2022, were as follows (dollars in thousands):
September 30, 2023 December 31, 2022
Base management fee $ 2,150  $ 2,141 
Incentive fee 789  1,589 
Other, net(1)
62  80 
Total due to Adviser 3,001  3,810 
Total due to Administrator 619  536 
Total due to Gladstone Securities(2)
—  24 
Total due to related parties(3)
$ 3,620  $ 4,370 
(1)Other amounts due to or from our Adviser primarily relate to miscellaneous general and administrative expenses either paid by our Adviser on our behalf or by us on our Adviser’s behalf.
(2)Represents certain costs related to sales of preferred stock paid by Gladstone Securities on our behalf.
(3)Reflected as a line item on our accompanying Condensed Consolidated Balance Sheets.