Industrial Logistics Properties Trust Announces Annual Meeting Results and Officer Promotion

Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced the results of its 2020 Annual Meeting of Shareholders which was held today.

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Thursday, May 28, 2020
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REIT, Finance, Professional services, Commercial Building & Real Estate, Construction & Property, Equity, Law, Real estate investment trust, Trust law, Trustee, Private law
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United States, Massachusetts
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  • Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced the results of its 2020 Annual Meeting of Shareholders which was held today.
  • The final tabulation of the percentage of shareholders votes cast for this Trustee is as follows:
    Adam D. Portnoy was re-elected as a Managing Trustee.
  • Industrial Logistics Properties Trust is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States.
  • No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.


Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced the results of its 2020 Annual Meeting of Shareholders which was held today.

Bruce M. Gans was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:

Independent Trustee

Percentage of Shares Voted – For

Bruce M. Gans

55.0%

Adam D. Portnoy was re-elected as a Managing Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:

Managing Trustee

Percentage of Shares Voted – For

Adam D. Portnoy

64.1%

Shareholders approved an amendment to ILPT’s Declaration of Trust to provide for the annual election of all Trustees beginning in 2023:

Proposal

Percentage of Shares Outstanding Voted – For

Annual Election of Trustees

84.9%

Shareholders voted to approve executive compensation by means of an advisory vote:

Proposal

Percentage of Shares Voted – For

Approval of Executive Compensation

94.3%

Shareholders voted to approve the frequency of future advisory votes to approve executive compensation be set to every year by means of an advisory vote:

Proposal

Percentage of Shares Voted – 1 Year

Frequency of Executive Compensation Advisory Vote

90.7%

Shareholders ratified the appointment of Ernst & Young LLP as ILPT’s independent auditors for the 2020 fiscal year:

Proposal

Percentage of Shares Voted – For

Ratification of Independent Auditors

99.7%

In addition, the Board of Trustees promoted Yael Duffy, the company’s Vice President to the offices of Vice President and Chief Operating Officer. Ms. Duffy is also the Vice President of The RMR Group LLC and is responsible for asset management oversight of a portfolio of office, industrial and retail properties managed by RMR. Since joining RMR in 2006, Ms. Duffy has also worked in RMR’s Accounting group as an Accounting Manager and Real Estate Services group as an Area Director in the Northeast region. Prior to joining RMR, Ms. Duffy worked at Spaulding & Slye.

Industrial Logistics Properties Trust is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States. ILPT is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

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