Welcome to our dedicated page for Franklin St Prop SEC filings (Ticker: FSP), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Franklin Street Properties Corp. filings document the regulatory record of an office-focused REIT with common stock registered on NYSE American under FSP. The company's 8-K reports include operating and financial results with supplemental operating data, material definitive agreements, credit-facility terms, capital-structure disclosures and governance updates. These filings describe subjects such as secured indebtedness, delayed-draw borrowing capacity, covenants and related exhibits.
Proxy materials cover annual stockholder meeting procedures, governance matters and voting disclosures. Other current reports document cooperation-agreement matters, board-related governance changes and recurring REIT disclosure topics, including property operations, leasing activity, asset management services and capital needs for commercial office real estate.
Bitterman Jennifer reported acquisition or exercise transactions in this Form 4 filing.
Franklin Street Properties director Jennifer Bitterman received a stock grant of 80,342 shares of Common Stock as compensation. The award was issued under the Franklin Street Properties Corp. 2002 Stock Incentive Plan and was valued at $45,000, based on a $0.5601 closing share price on the grant date. Following this grant, she directly owns 80,342 shares. This is a compensation-related grant, not an open-market purchase.
Murray Georgia reported acquisition or exercise transactions in this Form 4 filing.
Franklin Street Properties director Georgia Murray received a stock grant valued at $45,000. She was awarded 80,342 shares of common stock at a reference price of $0.5601 per share under the company’s 2002 Stock Incentive Plan. After this grant, she directly owns 235,983 common shares.
MCGILLICUDDY DENNIS J reported acquisition or exercise transactions in this Form 4 filing.
Franklin Street Properties Corp. director Dennis J. McGillicuddy received an award of 80,342 shares of common stock under the company’s 2002 Stock Incentive Plan. The grant value is $45,000, calculated using a grant-date closing price of $0.5601 per share.
Following this award, McGillicuddy holds 194,858 shares directly. The filing also lists several indirect holdings through a limited partnership, his spouse, and various trusts, with some positions reported while disclaiming beneficial ownership or voting power.
Burke John N reported acquisition or exercise transactions in this Form 4 filing.
Franklin Street Properties director John N. Burke received a stock award of 80,342 common shares. The shares were granted under the Franklin Street Properties Corp. 2002 Stock Incentive Plan and represent $45,000 of value based on a $0.5601 closing share price on the grant date.
Following the award, Burke directly holds 80,344 common shares. He also has indirect holdings of 27,087.3100 shares through a 401(k) account and 120,235.9130 shares through a revocable living trust where he has full investment authority and is sole beneficiary.
Franklin Street Properties Corp. held its 2026 Annual Meeting of Stockholders on May 14, 2026. Shareholders elected five directors—George J. Carter, Georgia Murray, Jennifer Bitterman, John N. Burke and Dennis J. McGillicuddy—to one-year terms expiring at the 2027 annual meeting.
Shareholders also ratified Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 66,582,699 votes for, 15,247,083 against and 3,191,941 abstentions. In a non-binding vote, shareholders approved the Company’s executive compensation, with 38,438,867 votes for, 20,811,106 against, 6,941,875 abstentions and 18,829,875 broker non-votes.
Franklin Street Properties Corp. reported Q1 2026 rental revenue of $26.2M, down slightly from Q1 2025. Net loss narrowed to $9.5M from $21.4M, mainly because last year included a large impairment on a sold property and higher operating costs.
The REIT’s 14-office portfolio totaled about 4.8M square feet and was 66.5% occupied, with 145,000 square feet leased at GAAP rents about 6.4% above prior levels. Segment NOI was $11.7M, and Funds From Operations were $1.2M.
In February 2026, the company closed a new $320M secured term credit facility with an affiliate of TPG Credit, including $275M of Initial Term Loans at a 9.0% interest rate, maturing in 2029. Proceeds refinanced roughly $249M of BMO and BofA term loans and senior notes. Cash and cash equivalents were $23.8M.
The board’s ongoing review of strategic alternatives continued, and additional financial advisors were engaged. In March 2026, the board suspended quarterly cash dividends to redirect capital toward leasing, and the new Credit Agreement restricts dividends above $0.01 per share or the amount needed to maintain REIT status.
Franklin Street Properties Corp. reported first quarter 2026 results and outlined progress on its ongoing strategic review. Rental revenue was $26.2M for the three months ended March 31, 2026, slightly below $27.1M a year earlier. Net loss narrowed to $9.5M, or $0.09 per share, compared with a $21.4M loss, or $0.21 per share, in the prior-year quarter.
Funds From Operations (FFO) were $1.2M, or $0.01 per share, while Adjusted FFO (AFFO) was negative at $(1.6)M, or $(0.02) per share. The owned portfolio totaled 14 properties and 4.81 million square feet, with 68.4% leased as of March 31, 2026, modestly below 68.9% at year-end 2025.
The company highlighted its expanded strategic alternatives review, now advised by both BofA Securities and JLL, and noted refinancing activities that replaced prior term loans and senior notes with $275M of new Initial Term Loans at a 9.00% rate. Management is negotiating a potential sale of the Greenwood Plaza property and emphasized continued leasing, efficiency initiatives, and the previously announced dividend suspension, which is expected to preserve about $4.1M of cash annually.
Franklin Street Properties Corp. is asking stockholders to vote at its 2026 annual meeting, held virtually via live audio webcast on May 14, 2026 at 11:00 a.m. Eastern Time. Holders of 103,690,340 common shares as of March 3, 2026 may participate online.
Stockholders will vote on three items: electing five directors for one-year terms, ratifying Ernst & Young LLP as independent auditor for 2026, and approving an advisory “say‑on‑pay” resolution for executive compensation. The board recommends voting FOR all director nominees and FOR both other proposals.
The proxy also highlights the company’s REIT strategy focused on office properties in U.S. sunbelt and mountain west markets, strong ESG credentials including high ENERGY STAR and LEED penetration, an independent board majority with a Lead Independent Director, and simple, primarily cash-based executive pay aligned with long‑term shareholder value.
Franklin Street Properties Corp. files its annual report describing its office-focused REIT operations and key risks. The company owns 14 office properties totaling 4,807,663 square feet in Dallas, Denver, Houston and Minneapolis, with 67.4% of space occupied and weighted average rent of $30.86 per square foot.
In May 2025, the board began a strategic review of alternatives and this review remains ongoing. On February 26, 2026, the company closed a $320 million secured credit facility with an affiliate of TPG Credit and used borrowings to repay approximately $249 million of existing indebtedness. In March 2026, the board suspended quarterly cash dividends to reduce expenses and redirect capital toward leasing efforts.
The filing highlights ongoing uncertainty from the long-term impact of the COVID-19 pandemic on office demand, tenant rent payments and property values, as well as broader economic and geopolitical risks. Concentration in energy-related tenants and in the Denver, Houston, Dallas and Minneapolis markets, along with lease rollover and tenant credit risk, could pressure occupancy and cash flow. The credit agreement includes financial covenants and a provision that a leadership change involving the Chief Executive Officer and Chairman, if not addressed to lenders’ satisfaction, could trigger an event of default.