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

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2014

Summary of Changes in Stockholders' Equity

The following table summarizes the changes in our stockholders’ equity for the six months ended June 30, 2014 (dollars in thousands):


	Preferred Stock		Senior Common Stock		Common Stock		Additional Paid in Capital		Notes Receivable from Employees			Distributions in Excess of Accumulated Earnings			Total Stockholders’ Equity

Balance at December 31, 2013	$	2	$	—	$	16	$	298,751	$	(375	)	$	(115,248	)	$	183,146

Issuance of senior common stock and common stock, net		—		—		2		34,099		—			—			34,101

Distributions declared to common, senior common and preferred stockholders		—		—		—		—		—			(14,400	)		(14,400	)

Net loss		—		—		—		—		—			(12,297	)		(12,297	)


Balance at June 30, 2014	$	2	$	—	$	18	$	332,850	$	(375	)	$	(141,945	)	$	190,550

Dividends Declared

Our Board of Directors declared the following distributions per share for the three and six months ended June 30, 2014 and 2013:


	For the three months ended June 30,				For the six months ended June 30,
	2014		2013		2014		2013

Common Stock	$	0.38	$	0.38	$	0.75	$	0.75
Senior Common Stock		0.26		0.26		0.53		0.53
Series A Preferred Stock		0.4843749		0.4843749		0.9687498		0.9687498
Series B Preferred Stock		0.4688		0.4688		0.9375		0.9375
Series C Preferred Stock		0.4453		0.4453		0.8906		0.8906

Summary of Outstanding Note Receivable from an Employee for the Exercise of Stock Options

The following table is a summary of the outstanding note receivable from an employee of the Adviser for the exercise of stock options (dollars in thousands):


Date Issued	Outstanding Balance of Employee Loan at June 30, 2014		Outstanding Balance of Employee Loan at December 31, 2013		Maturity Date of Note	Interest Rate on Note

Nov 2006	$	375	$	375	Nov 2015		8.15	%