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Industrial Logistics Properties Trust Announces Annual Meeting Results and Officer Promotion
NEWTON, Mass.--(BUSINESS WIRE)-- Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced the results of its 2020 Annual Meeting of Shareholders
About this update from Industrial Logistics Properties Trust
[{"type":"text","content":" NEWTON, Mass.--(BUSINESS WIRE)--\nIndustrial Logistics Properties Trust (Nasdaq: ILPT) today announced the results of its 2020 Annual Meeting of Shareholders which was held today.\n\n\nBruce 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:\n\n\n\n\nIndependent Trustee\n\n\n\n\n\n\n\n\nPercentage of Shares Voted – For\n\n\n\n\n\nBruce M. Gans\n\n\n\n\n\n\n\n\n55.0%\n\n\n\n\n\nAdam 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:\n\n\n\n\nManaging Trustee\n\n\n\n\n\n\n\n\nPercentage of Shares Voted – For\n\n\n\n\n\nAdam D. Portnoy\n\n\n\n\n\n\n\n\n64.1%\n\n\n\n\n\nShareholders approved an amendment to ILPT’s Declaration of Trust to provide for the annual election of all Trustees beginning in 2023:\n\n\n\n\nProposal\n\n\n\n\n\n\n\n\nPercentage of Shares Outstanding Voted – For\n\n\n\n\n\nAnnual Election of Trustees\n\n\n\n\n\n\n\n\n84.9%\n\n\n\n\n\nShareholders voted to approve executive compensation by means of an advisory vote:\n\n\n\n\nProposal\n\n\n\n\n\n\n\n\nPercentage of Shares Voted – For\n\n\n\n\n\nApproval of Executive Compensation\n\n\n\n\n\n\n\n\n94.3%\n\n\n\n\n\nShareholders voted to approve the frequency of future advisory votes to approve executive compensation be set to every year by means of an advisory vote:\n\n\n\n\nProposal\n\n\n\n\n\n\n\n\nPercentage of Shares Voted – 1 Year\n\n\n\n\n\nFrequency of Executive Compensation Advisory Vote\n\n\n\n\n\n\n\n\n90.7%\n\n\n\n\n\nShareholders ratified the appointment of Ernst & Young LLP as ILPT’s independent auditors for the 2020 fiscal year:\n\n\n\n\nProposal\n\n\n\n\n\n\n\n\nPercentage of Shares Voted – For\n\n\n\n\n\nRatification of Independent Auditors\n\n\n\n\n\n\n\n\n99.7%\n\n\n\n\n\nIn 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 Nor...