Spirit Realty Capital Announces Certain Executive Officers Surrender Portions of Vesting Share Awards for Tax Purposes
SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- Spirit Realty Capital, Inc. ("Spirit Realty Capital") (NYS: SRC) , a real estate investment trust that invests in single-tenant, operationally essential real estate, today issued a statement regarding stock transactions of certain executive officers and employees of the company.
On September 25, 2013, portions of awards of restricted Spirit Realty Capital common stock granted to certain of the company's officers and other employees vested. The vesting of these shares, granted in connection with the company's successful initial public offering one year ago and pursuant to the company's 2012 Incentive Award Plan (the "Plan"), resulted in federal and state income tax liabilities for the recipients. As permitted by the terms of the Plan and the award grants, certain Spirit Realty Capital officers elected to surrender to the company portions of the vesting shares solely to pay some or all of the associated taxes. The surrender of the shares by executive officers subject to reporting obligations under Section 16 of the Securities Exchange Act will result in filings by such officers of Forms 4 with the Securities and Exchange Commission ("SEC").
About Spirit Realty Capital
Spirit Realty Capital was formed in 2003 to invest in single-tenant operationally essential real estate, which refers to generally free-standing, commercial real estate facilities where tenants conduct retail, service or distribution activities that are essential to the generation of their sales and profits. Spirit Realty Capital completed a merger with Cole Credit Property Trust II, Inc. on July 17, 2013. As a result, Spirit Realty Capital has an estimated enterprise value of $7.1 billion comprising a diverse portfolio of approximately 2,050 properties across 49 states. Spirit Realty Capital completed its initial public offering in September 2012 and trades under the symbol "SRC" on the New York Stock Exchange. The CUSIP number for shares of the post-merger Spirit Realty Capital common stock is 84860W102. There are approximately 370.6 million shares of Spirit Realty Capital common stock outstanding as of August 31, 2013. More information about Spirit Realty Capital can be found at www.spiritrealty.com and the Spirit Realty Capital, Inc. and Spirit Realty, L.P. 2012 Incentive Award Plan is available on the SEC's website as an exhibit to Amendment No. 6 to Spirit Realty Capital's registration statement on Form S-11 filed on August 31, 2012.
Spirit Realty Capital, Inc.
Michael A. Bender, 480-315-6634
SVP, Chief Financial Officer
KEYWORDS: United States North America Arizona
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