Gladstone Commercial Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Our Board of Directors declared the following distributions per share for the years ended December 31, 2013, 2012, and 2011:


	For the year ended December 31,
	2013		2012			2011

Common Stock	$	1.50	$	1.50		$	1.50
Senior Common Stock		1.05		1.05			1.05
Series A Preferred Stock		1.9374996		1.9374996			1.9374996
Series B Preferred Stock		1.8750		1.8750			1.8750
Series C Preferred Stock ⁽¹⁾		1.7813		1.6328	⁽¹⁾		N/A	⁽¹⁾

⁽¹⁾	The Series C Preferred Stock was issued on January 31, 2012.

Summary of Changes in Stockholders' Equity

years. The characterization of distributions during each of the last three years is reflected in the table below:


	Ordinary Income			Return of Capital

Common Stock
For the year ended December 31, 2011		16.62560	%		83.37440	%
For the year ended December 31, 2012		0.00000	%		100.00000	%
For the year ended December 31, 2013		18.32962	%		81.67038	%

Senior Common Stock
For the year ended December 31, 2011		100.00000	%		0.00000	%
For the year ended December 31, 2012		0.00000	%		100.00000	%
For the year ended December 31, 2013		100.00000	%		0.00000	%

Series A Preferred Stock
For the year ended December 31, 2011		100.00000	%		0.00000	%
For the year ended December 31, 2012		91.70830	%		8.29170	%
For the year ended December 31, 2013		100.00000	%		0.00000	%

Series B Preferred Stock
For the year ended December 31, 2011		100.00000	%		0.00000	%
For the year ended December 31, 2012		91.70830	%		8.29170	%
For the year ended December 31, 2013		100.00000	%		0.00000	%

Series C Preferred Stock
For the year ended December 31, 2011		N/A			N/A	⁽¹⁾
For the year ended December 31, 2012		91.70830	%		8.29170	%
For the year ended December 31, 2013		100.00000	%		0.00000	%

⁽¹⁾	There was no Series C Preferred Stock outstanding during the year ended December 31, 2011.

Summary of Outstanding Note Issued to an Employee for the 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 December 31, 2013		Outstanding Balance of Employee Loans at December 31, 2012		Maturity Date of Note	Interest Rate on Note

Apr 2006	$	—	$	3	Apr 2015		7.77	%
May 2006		—		32	May 2016		7.87	%
Nov 2006		375		375	Nov 2015		8.15	%

	$	375	$	410