AREAlexandria Real Estate Equities
We are a Maryland corporation formed in October 1994 that has elected to be taxed as a REIT for federal income tax purposes. 10-K, Item 1
Deals between ARE and its directors, executives, owners of more than 5% or their families: a relative on the payroll, a plane the company charters from its CEO, a director's company that buys from it. SEC rules (Item 404) make the company list every such deal over $120,000 in its proxy statement. Below: what the proxy filed 2026-04-01 reports that the one filed 2025-04-02 did not, quoted as filed.
New this year
Paragraphs about a deal, a person or a relative with nothing like them in the proxy filed 2025-04-02.
Nothing new: every deal in this year's section was reported last year too.
The whole section 11 paragraphs, proxy filed 2026-04-01
Policies and Procedures With Respect to Related-Person Transactions“The Board has a written policy setting forth the procedures for the review and approval of transactions involving the Company and “related persons” within the meaning of the rules and regulations of the Securities and Exchange Commission (“SEC”).”
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Policies and Procedures With Respect to Related-Person Transactions“Under this policy, the Nominating & Governance Committee is responsible for reviewing and approving all related- person transactions that are required to be reported under the rules and regulations of the SEC. In the event that the Chief Financial Officer of the Company determines that it would be impracticable or undesirable to wait until the next meeting of the Nominating & Governance Committee to review a related-person transaction, the Chair of the Nominating & Governance Committee may act on behalf of the Nominating & Governance Committee to review and approve and/or disapprove the related-person transaction.”
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Policies and Procedures With Respect to Related-Person Transactions“In general, related-person transactions are subject to preapproval by the Nominating & Governance Committee. The policy provides that in making its determination whether to approve a related-person transaction, the Nominating & Governance Committee will consider all factors it deems relevant or appropriate, including:”
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Policies and Procedures With Respect to Related-Person Transactions“Whether the terms of the related-person transaction are fair to the Company and on terms no less favorable than terms generally available in transactions with non-affiliates under similar circumstances;”
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Policies and Procedures With Respect to Related-Person Transactions“Whether there are legitimate business reasons for the Company to enter into the related-person transaction;”
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Policies and Procedures With Respect to Related-Person Transactions“Whether the related-person transaction would impair the independence of an outside director;”
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Policies and Procedures With Respect to Related-Person Transactions“Whether the related-person transaction would present an improper conflict of interest for any director or executive officer, taking into account the size of the transaction, the overall financial position of the director or executive officer, the direct or indirect nature of the director’s or executive officer’s interest in the transaction, the ongoing nature of any proposed relationship, and any other factors deemed relevant; and • Whether the related-person transaction is material, taking into account the importance of the interest to the related person, the relationship of the related person to the transaction, the relationship of related persons to each other, and the aggregate value of the transaction.”
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Policies and Procedures With Respect to Related-Person Transactions“The policy also contains a list of certain categories of related-person transactions that are preapproved under the policy and therefore are not required to be reviewed or approved by the Nominating & Governance Committee.”
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Certain Relationships and Related Transactions“From the beginning of fiscal year 2025 to the date of this Proxy Statement, there were no relationships or transactions of a nature required to be disclosed under Item 404 of the SEC’s Regulation S-K, except as described below.”
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Agreement With Affiliate of Norges Bank“In December 2021, we formed a real estate joint venture at our 50 and 60 Binney Street properties in our Cambridge submarket, in which an affiliate of Norges Bank acquired a 41.0% interest for a purchase price of $485.9 million in 2021.”
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Agreement With Affiliate of Norges Bank“During 2025, the affiliate of Norges Bank received its commensurate share of the profit of the joint venture aggregating $15.3 million. Norges Bank had a 9.5% beneficial ownership interest in the Common Stock of the Company as of December 31, 2025. Refer to the “Security Ownership of Certain Beneficial Owners and Management” section of this Proxy Statement for additional information.”
Read it in the proxy ↗
Paragraphs are compared by their words, not read by AI: one counts as new when no paragraph last year shares half of its words, or when it names a person or company last year's section did not. A deal reported again with a new amount is not new. Always check the filing. Open the proxy ↗ · Last year's proxy ↗
Work on ARE in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/ARE/export.csv") into a cell.