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

Related-Party Transactions (Tables)

Related-Party Transactions (Tables)

3 Months Ended

Mar. 31, 2016

Summary of Management Fees, Incentive Fees and Associated Credits and Administration Fees

The following table summarizes the management fees, incentive fees and associated credits and the administration fees reflected in our accompanying Condensed Consolidated Statements of Operations:


	For the Three Months Ended March 31,
	2016		2015
Management fees ⁽¹⁾⁽²⁾	$	387,154	$	295,748
Credits from voluntary, irrevocable waiver by Adviser’s board of directors ⁽²⁾⁽³⁾		—		(320,905	)

Net fee to (from) our Adviser	$	387,154	$	(25,157	)

Administration fees ⁽¹⁾⁽²⁾	$	211,860	$	130,936

⁽¹⁾	Pursuant to the Advisory and Administration Agreements, respectively, which became effective on February 1, 2013.

⁽²⁾	Reflected as a line item on our accompanying Consolidated Statements of Operations.

⁽³⁾

The credit received from our Adviser for the three months ended March 31, 2015, was attributable to a finder’s fee earned by our Adviser in connection with a farm we acquired during the three months ended March 31, 2015, which fee was granted to us as a one-time, voluntary and irrevocable waiver to be applied against the fees we pay to our Adviser.

Details of Amounts Due to Related Parties on Our Accompanying Condensed Consolidated Balance Sheets

Amounts due to related parties on our accompanying Condensed Consolidated Balance Sheets as of March 31, 2016, and December 31, 2015, were as follows:


	March 31, 2016		December 31, 2015
Management fee due to Adviser	$	387,154	$	362,373
Other due to Adviser⁽¹⁾		29,407		13,140

Total due to Adviser		416,561		375,513

Administration fee due to Administrator		211,860		190,080

Total due to Administrator		211,860		190,080

Total due to related parties ⁽²⁾	$	628,421	$	565,593

⁽¹⁾	Other fees due to related parties primarily relate to miscellaneous general and administrative expenses paid by our Adviser or Administrator on our behalf.

⁽²⁾	Reflected as a line item on our accompanying Condensed Consolidated Balance Sheets.