Gladstone Land Corporation expanded its board from seven to eight directors with the election of George “Chip” Stelljes, III to the 2028 class, effective June 1, 2026.
Stelljes will serve on three board committees: Compensation, Ethics, Nominating & Corporate Governance, and Valuation.
The appointment brings back a longtime Gladstone executive. Stelljes spent 12 years with Gladstone companies from 2001 to 2013, where he served as chief investment officer, president and a director of Gladstone Capital Corporation, Gladstone Investment Corporation, Gladstone Commercial Corporation and Gladstone Management Corporation. Before that, he spent 23 years in private equity and venture capital roles at Patriot Capital, Camden Partners, Columbia Capital and Allied Capital.
Gladstone Land said Stelljes was chosen for his more than 25 years of experience in investment analysis, management and advisory work.
The company currently owns 144 farms across 14 states, totaling about 99,000 acres, along with nearly 56,000 acre-feet of water assets in California. Its monthly common-stock distribution remains $0.0467 per share, or $0.5604 annually, and it has paid 159 consecutive monthly cash distributions since its IPO in January 2013. As a result of these announcements, the company's shares have moved 1.52% on the market, and are now trading at a price of $9.33. If you want to know more, read the company's complete 8-K report here.
