Office Properties Income Trust Announces Annual Meeting Results

Rhea-AI Summary

Office Properties Income Trust (Nasdaq: OPI) held its 2022 Annual Meeting of Shareholders, where key outcomes included the re-election of Trustees Barbara D. Gilmore (75.6%), John L. Harrington (82.0%), William A. Lamkin (96.7%), Elena B. Poptodorova (76.6%), and Managing Trustee Adam D. Portnoy (66.7%). Shareholders approved executive compensation with 92.8% support and ratified Deloitte & Touche LLP as independent auditors for 2022 with 98.7% approval. OPI focuses on owning and leasing office properties primarily to high-quality single tenants.

Positive

• Trustees re-elected with significant shareholder support: Lamkin (96.7%), Harrington (82.0%)
• 92.8% approval for executive compensation indicates strong shareholder confidence
• 98.7% ratification of Deloitte & Touche LLP as auditors reflects trust in financial oversight

Negative

• Adam D. Portnoy re-elected with only 66.7% support raises concerns about management's performance

NEWTON, Mass.--(BUSINESS WIRE)-- Office Properties Income Trust (Nasdaq: OPI) announced the results of its 2022 Annual Meeting of Shareholders, which was held earlier today, as follows.

Barbara D. Gilmore was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:

Independent Trustee									Percentage of Shares Voted – For
Barbara D. Gilmore									75.6%

John L. Harrington was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:

Independent Trustee									Percentage of Shares Voted – For
John L. Harrington									82.0%

William A. Lamkin was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:

Independent Trustee									Percentage of Shares Voted – For
William A. Lamkin									96.7%

Elena B. Poptodorova was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:

Independent Trustee									Percentage of Shares Voted – For
Elena B. Poptodorova									76.6%

Adam 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:

Managing Trustee									Percentage of Shares Voted – For
Adam D. Portnoy									66.7%

Shareholders voted to approve executive compensation by means of an advisory vote:

Proposal				Percentage of Shares Voted – For
Approval of Executive Compensation				92.8%

Shareholders ratified the appointment of Deloitte & Touche LLP as OPI’s independent auditors to serve for the 2022 fiscal year:

Proposal				Percentage of Shares Voted – For
Ratification of Independent Auditors				98.7%

About Office Properties Income Trust

Office Properties Income Trust (Nasdaq: OPI) is a national REIT focused on owning and leasing office properties primarily to single tenants and those with high credit quality characteristics. As of March 31, 2022, approximately 64% of OPI's revenues were from investment grade rated tenants. OPI owned and leased more than 170 properties as of March 31, 2022, with approximately 23 million square feet located in 32 states and Washington, D.C. In 2022, OPI was named as an Energy Star® Partner of the Year for the fifth consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company. For more information, visit opireit.com.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220616005913/en/

Kevin Barry

Director, Investor Relations

(617) 219-1410

Source: Office Properties Income Trust

FAQ

What were the outcomes of the Office Properties Income Trust 2022 Annual Meeting?

The meeting resulted in the re-election of several Trustees and strong approval for executive compensation and independent auditors.

How did shareholders vote on the re-election of Trustees at OPI?

Barbara D. Gilmore received 75.6%, John L. Harrington 82.0%, William A. Lamkin 96.7%, Elena B. Poptodorova 76.6%, and Adam D. Portnoy 66.7% of shareholder votes.

What percentage of votes supported executive compensation at OPI?

Executive compensation received 92.8% support from shareholders.

Who was ratified as auditors for Office Properties Income Trust in 2022?

Deloitte & Touche LLP was ratified as independent auditors with 98.7% approval.