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

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2015

The following table summarizes the changes in our stockholders’ equity for the nine months ended September 30, 2015 (dollars in thousands):


	Shares Issued														Notes			Distributions in
	Preferred		Senior Common		Common		Preferred		Senior Common		Common		Additional Paid in		Receivable from			Excess of Accumulated			Total Stockholders’
	Stock		Stock		Stock		Stock		Stock		Stock		Capital		Employees			Earnings			Equity
Balance at December 31, 2014		2,150,000		809,411		19,589,606	$	2	$	1	$	20	$	369,748	$	(375	)	$	(151,724	)	$	217,672

Issuance of senior common stock and common stock, net		—		183,658		2,154,173		—		—		2		38,653		—			—			38,655
Distributions declared to common, senior common and preferred stockholders		—		—		—		—		—		—		—		—			(27,305	)		(27,305	)
Principal repayments of employee notes receivable		—		—		—		—		—		—		—		375			—			375
Net income		—		—		—		—		—		—		—		—			1,030			1,030

Balance at September 30, 2015		2,150,000		993,069		21,743,779	$	2	$	1	$	22	$	408,401	$	—		$	(177,999	)	$	230,427

Our Board of Directors declared the following distributions per share for the three and nine months ended September 30, 2015 and 2014:


	For the three months ended September 30,				For the nine months ended September 30,
	2015		2014		2015		2014
Common Stock	$	0.375	$	0.375	$	1.125	$	1.125
Senior Common Stock		0.2625		0.2625		0.7875		0.7875
Series A Preferred Stock		0.4843749		0.4843749		1.4531247		1.4531247
Series B Preferred Stock		0.4688		0.4688		1.4063		1.4063
Series C Preferred Stock		0.4453		0.4453		1.3359		1.3359