Quarterly report [Sections 13 or 15(d)]

RELATED-PARTY TRANSACTIONS (Tables)

v3.25.1
RELATED-PARTY TRANSACTIONS (Tables)
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table summarizes the total Selling Commissions and Dealer-Manager Fees paid to Gladstone Securities during the three months ended March 31, 2025 and 2024 (dollars in thousands):
For the Three Months Ended March 31,
2025 2024
Series E Preferred Stock $ —  $ 28 
Total Selling Commissions and Dealer-Manager Fees $ —  $ 28 
The following table summarizes related-party fees paid or accrued for and reflected in our accompanying condensed consolidated financial statements (dollars in thousands):
  For the Three Months Ended March 31,
  2025 2024
Base management fee(1)(2)
$ 2,058  $ 2,156 
Capital gains fee(1)(2)
188  — 
Total fees to our Adviser $ 2,246  $ 2,156 
Administration fee(1)(2)
$ 642  $ 603 
Selling Commissions and Dealer-Manager Fees(1)(3)
$ —  $ 28 
Total fees to Gladstone Securities $ —  $ 28 
(1)Pursuant to the agreements with the respective related-party entities, as discussed above.
(2)Reflected as a line item on our accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.
(3)Included within Additional paid-in capital on the accompanying Condensed Consolidated Balance Sheets.
Amounts due to related parties on our accompanying Condensed Consolidated Balance Sheets as of March 31, 2025, and December 31, 2024, were as follows (dollars in thousands):
March 31, 2025 December 31, 2024
Base management fee $ 2,058  $ 2,067 
Capital gains fee 188  — 
Other, net(1)
42  75 
Total due to Adviser 2,288  2,142 
Administration fee 642  613 
Cumulative accrued but unpaid portion of prior Administration Fees(2)
419  217 
Total due to Administrator 1,061  830 
Total due to related parties(3)
$ 3,349  $ 2,972 
(1)Other amounts due to or from our Adviser primarily relate to miscellaneous general and administrative expenses either paid by our Adviser on our behalf or by us on our Adviser’s behalf.
(2)Represents the cumulative accrued but unpaid portion of prior Administration fees that are scheduled to be paid during the three months ending September 30 of each year, which is the quarter following our Administrator’s fiscal year end.
(3)Reflected as a line item on our accompanying Condensed Consolidated Balance Sheets.