May 27, 2021 -- Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company"), today announced the conditional optional redemption of all of the outstanding shares of its 7.00% Series D Cumulative Redeemable Preferred Stock, par value $0.001 per share (the "Series D Preferred Stock"). The optional redemption is contingent upon the Company having sufficient liquidity to complete such redemption on the redemption date, and the Company reserves the right to postpone or cancel any such voluntary redemption in its sole discretion. Notice of redemption on a conditional basis has been sent and will be publicized with respect to the Series D Preferred Stock, with a conditional redemption date of June 30, 2021. The Series D Preferred Stock will be redeemed at a price equal to $25.1458333 per share, representing the payment of the liquidation preference of $25.00, plus an amount equal to accrued and unpaid dividends in the amount of $0.1458333 per share.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Gladstone Commercial Corp., 7.00% Series D Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 5/25/2021 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.00% per annum ($1.75 per annum or $0.14583 per month) will be paid the last day of each month to holders of record or on the record date fixed by the board, not more than 35 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control resulting in the common shares of the surviving entity no longer being listed on the NYSE, the AMEX or the Nasdaq exchanges the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. Should a Change of Control occur, each holder of the Preferred Stock may, at its sole option, elect to cause the issuer to redeem any or all of such holder’s shares in cash at a redemption price of $25.00 per share (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NGS Chart	7.00% $1.75	$25.00 $25.00	Called for 6/30/2021 None	NF NF 10/19/2020	Last day of each month Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

Company's Online Information Links

HOME PAGE:     https://www.gladstonecommercial.com/
Company's Investor Relations Information	Go to Investor Relations Information
Company's Online News Releases	Go to News Releases
Online Company Profile	Go to Online Profile

Company's Online SEC EDGAR Filings

Company's SEC EDGAR Filings

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Company's Email Address Links

Inv Rel Email Address	commercial@gladstonecompanies.com
General Email Address	info@gladstonecompanies.com
Email Contact Form on Website	Go to Email Form

Address and Phone Numbers

Address:   1521 Westbranch Drive, Suite 100, McLean, VA 22102
Main Phone Number	703-287-5800
Fax Number	703-287-5801
Investor Relations	703-287-5878
Toll Free Phone Number	Unknown

CEO - David Gladstone

CFO - Gary Gerson