BNL — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-10-28

• Adjustment to recognize contractual operating lease billings on a straight-line basis

• Other income from real estate transactions722 4 718 > 100.0 %

• Adjustment to revenue recognized for uncollectible rental amounts billed, net

• The decrease in Lease revenues, net, during the three months ended September 30, 2026, was primarily attributable to an increase in net write-offs of accrued rental income. Write-offs of accrued rental income are discrete charges based on our assessment of collectability and fluctuate from quarter t…

• Provision for impairment of investment in rental properties1,474 3,546 (2,072)(58.4)%

Text removed vs the prior filing · source: 10-Q · 2026-07-29

• The increase in Lease revenues, net, during the three months ended June 30, 2026, was primarily attributable to receiving a full quarter of rents related to $61.2 million of real property acquisitions at a weighted average cash capitalization rate of 9.0% and the stabilization of two build-to-suit p…

• Provision for impairment of investment in rental properties3,546 — 3,546 100.0 %

• The increase in depreciation and amortization for the three months ended June 30, 2026 was primarily attributable to $6.2 million of accelerated depreciation recognized in connection with the demolition of a property being redeveloped, and growth in our real estate portfolio, including a full quarte…

• The increase in general and administrative expenses for the three months ended June 30, 2026 was primarily due to $1.6 million of transaction costs, including a deposit on land, related to a build-to-suit opportunity we decided not to pursue.

• Our recognition of a gain or loss on the sale of real estate varies from transaction to transaction based on fluctuations in asset prices and demand in the real estate market. During the three months ended June 30, 2026, we recognized a gain of $13.0 million on the sale of three properties, compared…

Text added vs the prior filing · source: 10-Q · 2026-10-28

• On October 28, 2026, the Company entered into an amended and restated employment agreement with Chief Executive Officer John Moragne, an amended and restated employment agreement with Chief Operating Officer Ryan Albano, and an employment agreement with Chief Financial Officer Kevin Fennell (each, a…

• Effective as of January 1, 2027, the Company also amended its Change in Control Severance Protection Policy (the “CIC Severance Policy”), in which all employees of the Company who are not party to an individual employment agreement participate, including named executive officers Michael Caruso (SVP,…

• The foregoing descriptions of the updates reflected in the Employment Agreement for each of Mr. Moragne, Mr. Albano and Mr. Fennell and the amended CIC Severance Policy are summaries and are qualified in their entirety by reference to

• the full terms of each Employment Agreement and the amended CIC Severance Policy, which are attached hereto as Exhibits 10.4, 10.5, 10.6, and 10.7, respectively, and are incorporated by reference herein.

• (c) None of our officers or directors adopted or terminated any contract, instruction, or written plan for the purchase or sale of our securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any non-Rule 10b5-1 trading arrangement.

Text removed vs the prior filing · source: 10-Q · 2026-07-29

• None of our officers or directors adopted or terminated any contract, instruction, or written plan for the purchase or sale of our securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any non-Rule 10b5-1 trading arrangement.