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 which was held today.

Bruce 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:

Independent Trustee	Percentage of Shares Voted – For
Bruce M. Gans	55.0%

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	64.1%

Shareholders approved an amendment to ILPT’s Declaration of Trust to provide for the annual election of all Trustees beginning in 2023:

Proposal	Percentage of Shares Outstanding Voted – For
Annual Election of Trustees	84.9%

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

Proposal	Percentage of Shares Voted – For
Approval of Executive Compensation	94.3%

Shareholders voted to approve the frequency of future advisory votes to approve executive compensation be set to every year by means of an advisory vote:

Proposal	Percentage of Shares Voted – 1 Year
Frequency of Executive Compensation Advisory Vote	90.7%

Shareholders ratified the appointment of Ernst & Young LLP as ILPT’s independent auditors for the 2020 fiscal year:

Proposal	Percentage of Shares Voted – For
Ratification of Independent Auditors	99.7%

In 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 Northeast region. Prior to joining RMR, Ms. Duffy worked at Spaulding & Slye.

Industrial Logistics Properties Trust is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States. ILPT is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.

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.