Quarterly report pursuant to Section 13 or 15(d)

Related-Party Transactions (Tables)

v3.24.3
Related-Party Transactions (Tables)
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table summarizes the total Selling Commissions and Dealer-Manager Fees paid to Gladstone Securities during the three and nine months ended September 30, 2024 and 2023 (dollars in thousands):
For the Three Months Ended September 30, For the Nine Months Ended September 30,
2024 2023 2024 2023
Series E Preferred Stock $ 9  $ 215  39  547 
Total Selling Commissions and Dealer-Manager Fees $ 9  $ 215  $ 39  $ 547 
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,
  2024 2023 2024 2023
Base management fee(1)(2)
$ 2,070  $ 2,150  $ 6,303  $ 6,447 
Incentive fee(1)(2)
109  789  109  789 
Incentive fee waiver(2)
(109) —  (109) — 
Total fees to our Adviser $ 2,070  $ 2,939  $ 6,303  $ 7,236 
Administration fee(1)(2)
$ 683  $ 619  $ 1,839  $ 1,708 
Selling Commissions and Dealer-Manager Fees(1)(3)
$ 9  $ 215  $ 39  $ 547 
Total fees to Gladstone Securities $ 9  $ 215  $ 39  $ 547 
(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.
Amounts due to related parties on our accompanying Condensed Consolidated Balance Sheets as of September 30, 2024, and December 31, 2023, were as follows (dollars in thousands):
September 30, 2024 December 31, 2023
Base management fee $ 2,070  $ 2,156 
Incentive fee 109  982 
Incentive fee waiver (109) — 
Other, net(1)
52  49 
Total due to Adviser 2,122  3,187 
Administration fee 683  546 
Cumulative accrued but unpaid portion of prior Administration Fees(2)
—  141 
Total due to Administrator 683  687 
Total due to related parties(3)
$ 2,805  $ 3,874 
(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 the cumulative accrued but unpaid portion of prior Administration fees that are scheduled to be paid during the three months ending September 30 of each year, which is the quarter following our Administrator’s fiscal year end.
(3)Reflected as a line item on our accompanying Condensed Consolidated Balance Sheets.