Gladstone Land (NASDAQ:LAND) announced that George “Chip” Stelljes, III was elected to the Company’s 2028 class of directors, effective June 1, 2026. He will serve on the Compensation, Ethics, Nominating & Corporate Governance, and Valuation committees, and expands the board from seven to eight directors.
Stelljes brings over 25 years of investment analysis, management, and advisory experience, including prior senior roles at Gladstone companies and leadership positions at multiple private equity and venture capital firms.
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Positive
Board expanded from seven to eight directors, adding governance capacity
New director brings over 25 years of investment and advisory experience
Appointment to key board committees strengthens oversight in compensation, governance, and valuation
Negative
None.
News Market Reaction – LAND
+1.41%
+1.41%Session close to close
In the Jun 2 session, LAND gained 1.41%, reflecting a mild positive market reaction.
This announcement adds an experienced investment professional to LAND’s board and key committees, ex...
Analysis
This announcement adds an experienced investment professional to LAND’s board and key committees, expanding the board from seven to eight members. In context of recent earnings updates, asset sales, and capital structure changes, the move highlights continued governance attention. Investors tracking similar developments often watch how new directors influence oversight of distributions, farm portfolio decisions, and future strategic transactions over the coming periods.
Key Figures
Director class year:2028 class of directorsBoard size:From seven to eight directorsInvestment experience:More than 25 years+5 more
8 metrics
Director class year2028 class of directorsGeorge "Chip" Stelljes elected to 2028 class
Board sizeFrom seven to eight directorsBoard expanded upon Stelljes’ appointment
Investment experienceMore than 25 yearsStelljes’ experience in investment analysis and management
Prior tenure23 yearsStelljes’ roles at multiple private equity and venture funds
Reclassified shares1,185,000 sharesSeries D preferred reclassified as additional common stock in 8-K
Authorized common stock52,017,888 sharesTotal authorized common stock after reclassification
Authorized Series B6,329,207 sharesAuthorized 6.00% Series B preferred stock
Authorized Series C25,666,775 sharesAuthorized 6.00% Series C preferred stock
Provided details for the Q4 2025 earnings call and webcast.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent news has often seen modest price moves, with generally aligned reactions to earnings and related announcements.
Recent Company History
Over the last several months, LAND has focused on earnings updates and capital allocation. Q1 2026 results on May 11 showed a shift from prior-year net income to net loss but stronger AFFO and cash from operations. Earlier, Q4 and full-year 2025 results on February 24 highlighted sizable farm sales and gains, alongside preferred redemptions and ATM equity issuance. Today’s board addition fits into this pattern of ongoing corporate and governance actions rather than an operational inflection.
"appointed to serve on the Company's Compensation Committee, Ethics, Nominating & Corporate"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
"Ethics, Nominating & Corporate Governance Committee and Valuation Committee."
A nominating & corporate governance committee is a small group of board members who pick and evaluate other directors, set rules for how the board operates, and oversee ethics, conflicts of interest and leadership succession. Think of it as the company’s hiring and rule-setting team for its own leadership; its choices and standards shape who runs the business and how they’re held accountable, which directly affects risk, trust and long‑term value for investors.
valuation committeefinancial
"Corporate Governance Committee and Valuation Committee."
A valuation committee is a small group of internal and sometimes external experts who review and approve how a company assigns monetary value to assets, securities, liabilities, or transactions. Think of them as appraisers who check the assumptions and calculations behind price tags—this matters to investors because those valuations shape reported profits, balance-sheet strength, deal prices, and the reliability of financial statements, reducing the risk of surprises or mispricing.
private equity investmentsfinancial
"St. John's Capital, LLC, a vehicle used to make private equity investments."
Private equity investments are when investors or funds buy ownership stakes in companies that are not traded on public stock markets, often with the goal of improving operations and selling the business later for a profit. For investors, they matter because they can offer higher returns than public stocks but come with limited access to your money, longer time horizons, and greater risk—think of buying a fixer‑upper home to renovate and sell rather than renting it out.
private equityfinancial
"multiple private equity and venture capital funds, including Patriot Capital, Camden Partners,"
Private equity involves investing money directly into private companies or buying out public companies to make them private, with the goal of improving their performance and increasing their value over time. For investors, it offers an opportunity to earn returns by helping companies grow or restructure, often requiring a longer-term commitment and a higher level of involvement than typical stock investments.
venture capitalfinancial
"multiple private equity and venture capital funds, including Patriot Capital, Camden Partners,"
Venture capital is money provided by specialized investors to young, high-growth companies in exchange for ownership stakes and often a role in shaping strategy — like planting seeds and helping them grow into trees. It matters to investors because venture funding can rapidly boost a startup’s resources, valuation and chances of success, but it also brings high risk and limited liquidity, affecting future returns and how shares behave at exits such as sales or public offerings.
closed-end investment companyfinancial
"Equalize Community Development Fund, a closed-end investment company that operates as"
A closed-end investment company is a pooled investment fund that issues a fixed number of shares in a one-time offering and then has those shares bought and sold on an exchange like a stock; a professional manager runs the portfolio of assets. It matters to investors because the market price can move above or below the value of the underlying holdings, affecting returns and income, and shares may be less flexible to issue or redeem compared with open-ended funds—think of buying a slice of a privately baked pie whose market price can differ from the pie’s actual ingredients value.
interval fundfinancial
"Development Fund, a closed-end investment company that operates as an interval fund and an"
An interval fund is a type of investment fund that allows investors to buy and sell shares only at specific times during the year, rather than daily like many other funds. Think of it as a club that opens its doors for trading only during designated periods, giving investors a way to access less liquid assets while still having some control over when they can buy or sell. This structure helps investors access unique investment opportunities that may not be easily available elsewhere.
MCLEAN, VA / ACCESS Newswire / June 2, 2026 / Gladstone Land Corporation (NASDAQ:LAND) (the "Company") announced that George "Chip" Stelljes, III has been elected to the 2028 class of directors for the Company, effective June 1, 2026. Mr. Stelljes has also been appointed to serve on the Company's Compensation Committee, Ethics, Nominating & Corporate Governance Committee and Valuation Committee. In connection with Mr. Stelljes' appointment, the size of the Company's board of directors has been expanded from seven to eight directors. Mr. Stelljes was selected to serve as a director due to his more than twenty-five years of experience in the investment analysis, management, and advisory industries.
"We are excited to strengthen our board with the appointment of Chip Stelljes," said David Gladstone, CEO of the Company and Chairman of its board of directors. "His prior service with the Gladstone companies and his deep experience in private equity fund investment will be a valuable asset to the Company as we continue to grow."
Mr. Stelljes is currently the managing partner of St. John's Capital, LLC, a vehicle used to make private equity investments. From 2001 to 2013, Mr. Stelljes held various senior positions with the Gladstone Companies, including serving as the chief investment officer, president and a director of Gladstone Capital Corporation, Gladstone Investment Corporation, Gladstone Commercial Corporation, and Gladstone Management Corporation. Prior to his service at the Gladstone companies, for 23 years, Mr. Stelljes served in a variety of roles at multiple private equity and venture capital funds, including Patriot Capital, Camden Partners, and Columbia Capital as well as Allied Capital.
Mr. Stelljes is currently the chairman of the board of directors of Equalize Community Development Fund, a closed-end investment company that operates as an interval fund and an independent director of Oxford Square Capital Corporation, a publicly-traded, closed-end management investment company. He is also a former board member and regional president of the National Association of Small Business Investment Companies. Mr. Stelljes holds an MBA from the University of Virginia and a BA in Economics from Vanderbilt University
About Gladstone Land Corporation: Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that owns farmland and farm-related properties located in major agricultural markets in the U.S. The Company currently owns 144 farms, comprised of approximately 99,000 acres in 14 different states and nearly 56,000 acre-feet (or over 18.1 billion gallons) of water assets in California. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The Company also owns farms growing permanent crops, such as almonds, blueberries, figs, olives, pistachios, and wine grapes, which are generally planted every 20-plus years and harvested annually. Gladstone Land pays monthly distributions to its stockholders and has paid 159 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The current per-share distribution on its common stock is $0.0467 per month, or $0.5604 per year. Additional information, including detailed information about each of the Company's farms, can be found at www.GladstoneLand.com.
Owners or brokers who have farmland for sale in the U.S. or those looking to buy farms should contact:
Lenders who are interested in providing us with long-term financing on farmland should contact Jay Beckhorn at (703) 587-5823 or Jay.Beckhorn@Gladstone.com.
For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit www.GladstoneCompanies.com.
About the Gladstone Companies: Information on the business activities of all the Gladstone family of funds can be found at www.gladstonecompanies.com.
CONTACT: For further information: Gladstone Land Corporation, (703) 287-5893
What board change did Gladstone Land (NASDAQ:LAND) announce on June 2, 2026?
Gladstone Land announced the election of George “Chip” Stelljes, III to its 2028 class of directors, effective June 1, 2026. According to Gladstone Land, his appointment also expands the board from seven to eight directors and adds expertise in investment management.
What committees will George “Chip” Stelljes, III serve on at Gladstone Land (LAND)?
George “Chip” Stelljes, III will serve on the Compensation Committee, Ethics, Nominating & Corporate Governance Committee, and Valuation Committee. According to Gladstone Land, these assignments position him to influence pay practices, governance policies, and asset valuation oversight across the company.
Why was George “Chip” Stelljes, III chosen as a director for Gladstone Land (LAND)?
He was selected due to more than 25 years of experience in investment analysis, management, and advisory roles. According to Gladstone Land, his deep private equity fund experience and prior senior positions at Gladstone companies are expected to support the company’s growth strategy.
What is George “Chip” Stelljes, III’s professional background before joining Gladstone Land’s board?
He is managing partner of St. John’s Capital, a private equity investment vehicle, and previously held senior roles at several Gladstone entities from 2001 to 2013. According to Gladstone Land, he also served at firms including Patriot Capital, Camden Partners, Columbia Capital, and Allied Capital.
What other board roles does George “Chip” Stelljes, III hold alongside his Gladstone Land (LAND) directorship?
He is chairman of the board of Equalize Community Development Fund and an independent director of Oxford Square Capital. According to Gladstone Land, he has also been a board member and regional president of the National Association of Small Business Investment Companies.
What are the academic qualifications of George “Chip” Stelljes, III now on Gladstone Land’s board?
George “Chip” Stelljes, III holds an MBA from the University of Virginia and a BA in Economics from Vanderbilt University. According to Gladstone Land, this educational background supports his long-standing career in investment management and corporate governance.
