Weil Edward M Jr.

SEC source: 0001104659-21-004858 · tm213393-1_4seq1.xml · nonDerivative · entry 2

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,710

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.10 to $10.11, inclusive. The reporting person undertakes to provide to the Registrant, any security holder of the Registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

SEC source: 0001104659-21-004858 · tm213393-1_4seq1.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,560

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $9.53 to $9.88, inclusive. The reporting person undertakes to provide to New York City REIT, Inc. (the "Registrant"), any security holder of the Registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

SEC source: 0001104659-21-003941 · tm213118d1_form4.xml · nonDerivative · entry 2

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,410

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.34 to $8.50, inclusive. The reporting person undertakes to provide to New York City REIT, Inc. (the "Registrant"), any security holder of the Registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

SEC source: 0001104659-21-003941 · tm213118d1_form4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,260

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

SEC source: 0001104659-21-003103 · tm212863-1_4seq1.xml · nonDerivative · entry 2

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,110

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

SEC source: 0001104659-21-003103 · tm212863-1_4seq1.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,960

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.39 to $8.44, inclusive. The reporting person undertakes to provide to New York City REIT, Inc. (the "Registrant"), any security holder of the Registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

SEC source: 0001104659-21-002124 · tm212096-1_4seq1.xml · nonDerivative · entry 2

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,850

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.29 to $8.42, inclusive. The reporting person undertakes to provide to the Registrant, any security holder of the Registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

SEC source: 0001104659-21-002124 · tm212096-1_4seq1.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,700

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.40 to $8.64, inclusive. The reporting person undertakes to provide to New York City REIT, Inc. (the "Registrant"), any security holder of the Registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

SEC source: 0001104659-21-001093 · tm211817-1_4.xml · nonDerivative · entry 2

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,550

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.25 to $8.35, inclusive. The reporting person undertakes to provide to the Registrant, any security holder of the Registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

SEC source: 0001104659-21-001093 · tm211817-1_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,400

F1 · kind: The transactions reported in this Form 4 was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.47 to $8.50, inclusive. The reporting person undertakes to provide to New York City REIT, Inc. (the "Registrant"), any security holder of the Registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

SEC source: 0001104659-20-111784 · tm2032332-1_4.xml · derivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 140,850.72

Underlying: Class A Common Stock · 140,850.72 shares

Expires not disclosed

F1 · kind: On September 30, 2020, the unit of limited partnership of New York City Operating Partnership, L.P. (the "OP"), the operating partnership of New York City REIT, Inc. (the "Registrant"), designated as the "Master LTIP Unit" (the "Master LTIP Unit") owned by New York City Advisors, LLC (the "Advisor"), the Registrant's external advisor, automatically converted into 4,012,841 units of limited partnership of the OP designated as "LTIP Units" ("LTIP Units") in accordance with the terms of the agreement of limited partnership of the OP (the "Partnership Agreement").

F2 · kind: The number LTIP Units issued represents the quotient, rounded down to the nearest whole number, of (a) 50,000,000, divided by (b) $12.46, representing the average closing price of one share of Class A common stock over the ten consecutive trading days immediately prior to September 30, 2020. The Master LTIP Unit was originally issued to the Advisor on August 18, 2020, pursuant to a multi-year outperformance agreement among the Registrant, the OP and the Advisor.

F3 · kind: LTIP Units may be earned by the Advisor based on the Registrant's achievement of threshold, target and maximum performance goals based on the Registrant's absolute and relative total stockholder return over a three-year performance period commencing on August 18, 2020. LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Registrant or the OP.

F4 · kind: At the time the Advisor's capital account with respect to an LTIP Unit that is earned and vested is economically equivalent to the average capital account balance of a unit of limited partnership of the OP designated as a "Class A Unit" ("Class A Unit"), the Advisor, as the holder of the LTIP Unit, in its sole discretion, will, in accordance with the Partnership Agreement, be entitled to convert the LTIP Unit into a Class A Unit. In accordance with, and subject to the terms of, the Partnership Agreement, Class A Units may be redeemed on a one-for-one basis for, at the Registrant's election, shares of Class A common stock or the cash equivalent thereof.

F5 · shares: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. The number of securities reported as acquired and indirectly held by the reporting person in this Form 4 represents the extent of his pecuniary interest therein (i.e. his pro rata share of the equity of the parent of the Advisor).

F1 · price: On September 30, 2020, the unit of limited partnership of New York City Operating Partnership, L.P. (the "OP"), the operating partnership of New York City REIT, Inc. (the "Registrant"), designated as the "Master LTIP Unit" (the "Master LTIP Unit") owned by New York City Advisors, LLC (the "Advisor"), the Registrant's external advisor, automatically converted into 4,012,841 units of limited partnership of the OP designated as "LTIP Units" ("LTIP Units") in accordance with the terms of the agreement of limited partnership of the OP (the "Partnership Agreement").

F2 · price: The number LTIP Units issued represents the quotient, rounded down to the nearest whole number, of (a) 50,000,000, divided by (b) $12.46, representing the average closing price of one share of Class A common stock over the ten consecutive trading days immediately prior to September 30, 2020. The Master LTIP Unit was originally issued to the Advisor on August 18, 2020, pursuant to a multi-year outperformance agreement among the Registrant, the OP and the Advisor.

F3 · price: LTIP Units may be earned by the Advisor based on the Registrant's achievement of threshold, target and maximum performance goals based on the Registrant's absolute and relative total stockholder return over a three-year performance period commencing on August 18, 2020. LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Registrant or the OP.

F4 · price: At the time the Advisor's capital account with respect to an LTIP Unit that is earned and vested is economically equivalent to the average capital account balance of a unit of limited partnership of the OP designated as a "Class A Unit" ("Class A Unit"), the Advisor, as the holder of the LTIP Unit, in its sole discretion, will, in accordance with the Partnership Agreement, be entitled to convert the LTIP Unit into a Class A Unit. In accordance with, and subject to the terms of, the Partnership Agreement, Class A Units may be redeemed on a one-for-one basis for, at the Registrant's election, shares of Class A common stock or the cash equivalent thereof.

F3 · derivative.exercise_date: LTIP Units may be earned by the Advisor based on the Registrant's achievement of threshold, target and maximum performance goals based on the Registrant's absolute and relative total stockholder return over a three-year performance period commencing on August 18, 2020. LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Registrant or the OP.

F4 · derivative.exercise_date: At the time the Advisor's capital account with respect to an LTIP Unit that is earned and vested is economically equivalent to the average capital account balance of a unit of limited partnership of the OP designated as a "Class A Unit" ("Class A Unit"), the Advisor, as the holder of the LTIP Unit, in its sole discretion, will, in accordance with the Partnership Agreement, be entitled to convert the LTIP Unit into a Class A Unit. In accordance with, and subject to the terms of, the Partnership Agreement, Class A Units may be redeemed on a one-for-one basis for, at the Registrant's election, shares of Class A common stock or the cash equivalent thereof.

F3 · derivative.expiration_date: LTIP Units may be earned by the Advisor based on the Registrant's achievement of threshold, target and maximum performance goals based on the Registrant's absolute and relative total stockholder return over a three-year performance period commencing on August 18, 2020. LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Registrant or the OP.

F4 · derivative.expiration_date: At the time the Advisor's capital account with respect to an LTIP Unit that is earned and vested is economically equivalent to the average capital account balance of a unit of limited partnership of the OP designated as a "Class A Unit" ("Class A Unit"), the Advisor, as the holder of the LTIP Unit, in its sole discretion, will, in accordance with the Partnership Agreement, be entitled to convert the LTIP Unit into a Class A Unit. In accordance with, and subject to the terms of, the Partnership Agreement, Class A Units may be redeemed on a one-for-one basis for, at the Registrant's election, shares of Class A common stock or the cash equivalent thereof.

F5 · derivative.underlying_shares: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. The number of securities reported as acquired and indirectly held by the reporting person in this Form 4 represents the extent of his pecuniary interest therein (i.e. his pro rata share of the equity of the parent of the Advisor).

F5 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. The number of securities reported as acquired and indirectly held by the reporting person in this Form 4 represents the extent of his pecuniary interest therein (i.e. his pro rata share of the equity of the parent of the Advisor).

SEC source: 0001104659-20-100998 · tm2029946-1_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,250

SEC source: 0001104659-20-098415 · tm2029406-1_4.xml · nonDerivative · entry 2

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,750

SEC source: 0001104659-20-098415 · tm2029406-1_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,250

SEC source: 0001104659-20-096991 · tm2029053d1_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,750

SEC source: 0001104659-20-097340 · tm2029146d1_4.xml · derivative · entry 7

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 0

Underlying: Class A Common Stock · 1.3 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · kind: Effective at the commencement of trading of the Registrant's Class A common stock on the NYSE, all Class A Units held by the Advisor were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP. These Class A Units were previously reported under an earlier name for the same security, "OP Units," and as being held by New York City Special Limited Partnership, LLC (the "Special Limited Partner"), an affiliate of the Advisor. These securities have at all times since their issuance been held by the Advisor.

F5 · shares: The number of securities previously reported has been adjusted to reflect the Registrant's 9.72-to-1 reverse stock split of Class A common stock followed by a stock dividend of three shares of Class B common stock for every share of Class A common stock outstanding completed on August 5, 2020.

F3 · derivative.exercise_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · derivative.exercise_date: Effective at the commencement of trading of the Registrant's Class A common stock on the NYSE, all Class A Units held by the Advisor were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP. These Class A Units were previously reported under an earlier name for the same security, "OP Units," and as being held by New York City Special Limited Partnership, LLC (the "Special Limited Partner"), an affiliate of the Advisor. These securities have at all times since their issuance been held by the Advisor.

F3 · derivative.expiration_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · derivative.expiration_date: Effective at the commencement of trading of the Registrant's Class A common stock on the NYSE, all Class A Units held by the Advisor were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP. These Class A Units were previously reported under an earlier name for the same security, "OP Units," and as being held by New York City Special Limited Partnership, LLC (the "Special Limited Partner"), an affiliate of the Advisor. These securities have at all times since their issuance been held by the Advisor.

F5 · derivative.underlying_shares: The number of securities previously reported has been adjusted to reflect the Registrant's 9.72-to-1 reverse stock split of Class A common stock followed by a stock dividend of three shares of Class B common stock for every share of Class A common stock outstanding completed on August 5, 2020.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. The number of securities reported as indirectly held by the reporting person in this Form 4 represents the extent of his pecuniary interest therein (i.e. his pro rata share of the equity of the parent of the Advisor).

SEC source: 0001104659-20-097340 · tm2029146d1_4.xml · derivative · entry 6

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1.3

Underlying: Class A Common Stock · 1,839.17 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: New York City Advisors, LLC (the "Advisor"), the external advisor of New York City REIT, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of New York City Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · kind: Effective at the commencement of trading of the Registrant's Class A common stock on the New York Stock Exchange (the "NYSE"), all Class B Units, 52,398 of which were owned by the Advisor, were converted into an equal number of units of limited partnership designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.exercise_date: New York City Advisors, LLC (the "Advisor"), the external advisor of New York City REIT, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of New York City Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · derivative.exercise_date: Effective at the commencement of trading of the Registrant's Class A common stock on the New York Stock Exchange (the "NYSE"), all Class B Units, 52,398 of which were owned by the Advisor, were converted into an equal number of units of limited partnership designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.exercise_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.expiration_date: New York City Advisors, LLC (the "Advisor"), the external advisor of New York City REIT, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of New York City Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · derivative.expiration_date: Effective at the commencement of trading of the Registrant's Class A common stock on the New York Stock Exchange (the "NYSE"), all Class B Units, 52,398 of which were owned by the Advisor, were converted into an equal number of units of limited partnership designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.expiration_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F5 · balance_after: The number of securities previously reported has been adjusted to reflect the Registrant's 9.72-to-1 reverse stock split of Class A common stock followed by a stock dividend of three shares of Class B common stock for every share of Class A common stock outstanding completed on August 5, 2020.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. The number of securities reported as indirectly held by the reporting person in this Form 4 represents the extent of his pecuniary interest therein (i.e. his pro rata share of the equity of the parent of the Advisor).

SEC source: 0001104659-20-097340 · tm2029146d1_4.xml · derivative · entry 5

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,840.17

Underlying: Class A Common Stock · 1,839.17 shares

Expires not disclosed

F1 · kind: New York City Advisors, LLC (the "Advisor"), the external advisor of New York City REIT, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of New York City Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · kind: Effective at the commencement of trading of the Registrant's Class A common stock on the New York Stock Exchange (the "NYSE"), all Class B Units, 52,398 of which were owned by the Advisor, were converted into an equal number of units of limited partnership designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.exercise_date: New York City Advisors, LLC (the "Advisor"), the external advisor of New York City REIT, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of New York City Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · derivative.exercise_date: Effective at the commencement of trading of the Registrant's Class A common stock on the New York Stock Exchange (the "NYSE"), all Class B Units, 52,398 of which were owned by the Advisor, were converted into an equal number of units of limited partnership designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.exercise_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.expiration_date: New York City Advisors, LLC (the "Advisor"), the external advisor of New York City REIT, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of New York City Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · derivative.expiration_date: Effective at the commencement of trading of the Registrant's Class A common stock on the New York Stock Exchange (the "NYSE"), all Class B Units, 52,398 of which were owned by the Advisor, were converted into an equal number of units of limited partnership designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.expiration_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. The number of securities reported as indirectly held by the reporting person in this Form 4 represents the extent of his pecuniary interest therein (i.e. his pro rata share of the equity of the parent of the Advisor).

SEC source: 0001104659-20-097340 · tm2029146d1_4.xml · nonDerivative · entry 2

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,840.47

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · kind: Effective at the commencement of trading of the Registrant's Class A common stock on the NYSE, all Class A Units held by the Advisor were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP. These Class A Units were previously reported under an earlier name for the same security, "OP Units," and as being held by New York City Special Limited Partnership, LLC (the "Special Limited Partner"), an affiliate of the Advisor. These securities have at all times since their issuance been held by the Advisor.

F3 · shares: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · shares: Effective at the commencement of trading of the Registrant's Class A common stock on the NYSE, all Class A Units held by the Advisor were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP. These Class A Units were previously reported under an earlier name for the same security, "OP Units," and as being held by New York City Special Limited Partnership, LLC (the "Special Limited Partner"), an affiliate of the Advisor. These securities have at all times since their issuance been held by the Advisor.

F5 · shares: The number of securities previously reported has been adjusted to reflect the Registrant's 9.72-to-1 reverse stock split of Class A common stock followed by a stock dividend of three shares of Class B common stock for every share of Class A common stock outstanding completed on August 5, 2020.

F3 · price: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · price: Effective at the commencement of trading of the Registrant's Class A common stock on the NYSE, all Class A Units held by the Advisor were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP. These Class A Units were previously reported under an earlier name for the same security, "OP Units," and as being held by New York City Special Limited Partnership, LLC (the "Special Limited Partner"), an affiliate of the Advisor. These securities have at all times since their issuance been held by the Advisor.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. The number of securities reported as indirectly held by the reporting person in this Form 4 represents the extent of his pecuniary interest therein (i.e. his pro rata share of the equity of the parent of the Advisor).

SEC source: 0001104659-20-097340 · tm2029146d1_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO, President and Secretary

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,839.17

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: New York City Advisors, LLC (the "Advisor"), the external advisor of New York City REIT, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of New York City Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · kind: Effective at the commencement of trading of the Registrant's Class A common stock on the New York Stock Exchange (the "NYSE"), all Class B Units, 52,398 of which were owned by the Advisor, were converted into an equal number of units of limited partnership designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · shares: New York City Advisors, LLC (the "Advisor"), the external advisor of New York City REIT, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of New York City Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · shares: Effective at the commencement of trading of the Registrant's Class A common stock on the New York Stock Exchange (the "NYSE"), all Class B Units, 52,398 of which were owned by the Advisor, were converted into an equal number of units of limited partnership designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · shares: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · price: New York City Advisors, LLC (the "Advisor"), the external advisor of New York City REIT, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of New York City Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · price: Effective at the commencement of trading of the Registrant's Class A common stock on the New York Stock Exchange (the "NYSE"), all Class B Units, 52,398 of which were owned by the Advisor, were converted into an equal number of units of limited partnership designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · price: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, Class A Units may be redeemed for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. The number of securities reported as indirectly held by the reporting person in this Form 4 represents the extent of his pecuniary interest therein (i.e. his pro rata share of the equity of the parent of the Advisor).

SEC source: 0001104659-19-076535 · tv535427_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 0

F1 · kind: As previously disclosed, represents shares of common stock of Global Net Lease, Inc. (the "Company") issued to the Company's external advisor, Global Net Lease Advisors, LLC (the "Advisor"), pursuant to the terms of the Company's advisory agreement with the Advisor (as amended, the "Advisory Agreement") as the stock portion ($184,018.17 out of the $368,036.34 in total) of the Incentive Compensation (as defined in the Advisory Agreement) earned by the Advisor pursuant to the Advisory Agreement for the three months ended September 30, 2018. These shares were forfeited because Core AFFO Per Share (as defined in the Advisory Agreement) did not exceed the Incentive Fee Lower Hurdle (as defined in the Advisory Agreement) for the period beginning on July 1, 2018 through June 30, 2019. This Form 4 filing solely refers to the foregoing forfeiture, with no other transactions undertaken by the reporting person.

F1 · shares: As previously disclosed, represents shares of common stock of Global Net Lease, Inc. (the "Company") issued to the Company's external advisor, Global Net Lease Advisors, LLC (the "Advisor"), pursuant to the terms of the Company's advisory agreement with the Advisor (as amended, the "Advisory Agreement") as the stock portion ($184,018.17 out of the $368,036.34 in total) of the Incentive Compensation (as defined in the Advisory Agreement) earned by the Advisor pursuant to the Advisory Agreement for the three months ended September 30, 2018. These shares were forfeited because Core AFFO Per Share (as defined in the Advisory Agreement) did not exceed the Incentive Fee Lower Hurdle (as defined in the Advisory Agreement) for the period beginning on July 1, 2018 through June 30, 2019. This Form 4 filing solely refers to the foregoing forfeiture, with no other transactions undertaken by the reporting person.

F1 · price: As previously disclosed, represents shares of common stock of Global Net Lease, Inc. (the "Company") issued to the Company's external advisor, Global Net Lease Advisors, LLC (the "Advisor"), pursuant to the terms of the Company's advisory agreement with the Advisor (as amended, the "Advisory Agreement") as the stock portion ($184,018.17 out of the $368,036.34 in total) of the Incentive Compensation (as defined in the Advisory Agreement) earned by the Advisor pursuant to the Advisory Agreement for the three months ended September 30, 2018. These shares were forfeited because Core AFFO Per Share (as defined in the Advisory Agreement) did not exceed the Incentive Fee Lower Hurdle (as defined in the Advisory Agreement) for the period beginning on July 1, 2018 through June 30, 2019. This Form 4 filing solely refers to the foregoing forfeiture, with no other transactions undertaken by the reporting person.

F2 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owned the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.

SEC source: 0001144204-19-001478 · tv510964_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 66,481.16

SEC source: 0001144204-18-060586 · tv507519_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 8,668.65

F1 · kind: Represents shares of common stock of Global Net Lease, Inc. (the "Company"), issued to the Company's external advisor, Global Net Lease Advisors, LLC (the "Advisor"), pursuant to the terms of the Company's advisory agreement with the Advisor (as amended, the "Advisory Agreement") as the stock portion ($184,018.17 out of the $368,036.34 in total) of the Incentive Compensation (as defined in the Advisory Agreement) earned by the Advisor pursuant to the Advisory Agreement for the three months ended September 30, 2018.

F2 · kind: Pursuant to the Advisory Agreement, 50% of the amount of any Incentive Compensation earned by the Advisor is payable in shares of common stock based on the average of the closing price of common stock on the five Business Days (as defined in the Advisory Agreement) prior to the date of issuance (the "Issuance Price") with the other 50% payable in cash. Pursuant to the requirements of the Advisory Agreement, the Advisor has agreed not to offer, sell, contract to sell, pledge or otherwise dispose of, directly or indirectly, one-third of these shares no earlier than the first anniversary of the date of issuance, one-third of these shares no earlier than the second anniversary of the date of issuance, and the remaining one-third of these shares no earlier than the third anniversary of the date of issuance.

F1 · shares: Represents shares of common stock of Global Net Lease, Inc. (the "Company"), issued to the Company's external advisor, Global Net Lease Advisors, LLC (the "Advisor"), pursuant to the terms of the Company's advisory agreement with the Advisor (as amended, the "Advisory Agreement") as the stock portion ($184,018.17 out of the $368,036.34 in total) of the Incentive Compensation (as defined in the Advisory Agreement) earned by the Advisor pursuant to the Advisory Agreement for the three months ended September 30, 2018.

F2 · shares: Pursuant to the Advisory Agreement, 50% of the amount of any Incentive Compensation earned by the Advisor is payable in shares of common stock based on the average of the closing price of common stock on the five Business Days (as defined in the Advisory Agreement) prior to the date of issuance (the "Issuance Price") with the other 50% payable in cash. Pursuant to the requirements of the Advisory Agreement, the Advisor has agreed not to offer, sell, contract to sell, pledge or otherwise dispose of, directly or indirectly, one-third of these shares no earlier than the first anniversary of the date of issuance, one-third of these shares no earlier than the second anniversary of the date of issuance, and the remaining one-third of these shares no earlier than the third anniversary of the date of issuance.

F3 · price: Represents the Issuance Price.

F4 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.

SEC source: 0001144204-18-051629 · tv503796_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 64,549.14

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.05 to $15.10, inclusive. The reporting person undertakes to provide to American Finance Trust, Inc. (the "Registrant"), any security holder of the Registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

F2 · balance_after: This amount includes 77.99 shares of Class B-1 common stock and 77.99 shares of Class B-2 common stock, which will automatically convert into an equal number of shares of Class A common stock, to be listed on The Nasdaq Global Select Market on October 10, 2018 and no later than January 15, 2019, respectively.

SEC source: 0001144204-18-048377 · tv502310_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 59,563.14

F1 · shares: Represents restricted shares of Class A common stock of American Finance Trust, Inc. (the "Registrant") issued pursuant to the 2018 Omnibus Incentive Compensation Plan of the Registrant, which vest in three equal installments on July 19, 2019, 2020 and 2021.

F2 · balance_after: This amount includes 77.99 shares of Class B-1 common stock and 77.99 shares of Class B-2 common stock, which will automatically convert into an equal number of shares of Class A common stock, to be listed on The Nasdaq Global Select Market no later than October 17, 2018 and January 15, 2019, respectively.

SEC source: 0001144204-18-047914 · tv502302_4.xml · derivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 4,496,796

Underlying: Class A Common Stock · 4,496,796 shares

Expires not disclosed

F1 · kind: On July 19, 2018, American Finance Operating Partnership, L.P. (the "OP"), the operating partnership of American Finance Trust, Inc. (the "Registrant"), issued American Finance Advisors, LLC (the "Advisor") one unit of limited partnership of the OP designated as the "Master LTIP Unit" (the "Master LTIP Unit") pursuant to the 2018 Advisor Multi-Year Outperformance Agreement, dated as of July 19, 2018, among the Registrant, the OP and the Advisor (the "OPP") and the 2018 Advisor Omnibus Incentive Compensation Plan of the Registrant. On August 30, 2018, in accordance with the terms of the agreement of limited partnership of the OP (the "Partnership Agreement"), the Master LTIP Unit automatically converted into 4,496,796 units of limited partnership of the OP designated as "LTIP Units" ("LTIP Units"), representing the quotient, rounded down to the nearest whole number, of (a) 72,000,000, divided by (b) the Initial Share Price (as defined in the OPP).

F2 · kind: The Initial Share Price is equal to $16.0114, representing the average of the Fair Market Value (as defined in the OPP) of one share of Class A common stock over the ten consecutive trading days immediately prior to August 30, 2018, and Fair Market Value as defined in the OPP for these purposes means the average closing price of Class A common stock for the ten consecutive trading days immediately preceding the date of the valuation. These LTIP Units may be earned by the Advisor based on the Registrant's achievement of threshold, target and maximum performance goals based on the Registrant's absolute and relative total stockholder return over a performance period commencing on July 19, 2018 and ending on the earliest of (i) July 19, 2021, (ii) the effective date of any Change of Control (as defined in the OPP) and (iii) the effective date of any termination of the Advisor's service as advisor of the Registrant.

F3 · kind: LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Registrant or the OP. Thereafter, subject to and in accordance with the terms of the Partnership Agreement, the Advisor, in its sole discretion, shall be entitled to convert any earned and vested LTIP Units into units of limited partnership of the OP designated as "Class A Units" ("Class A Units"). Pursuant to the redemption provisions contained in the Partnership Agreement, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units on a one-for-one basis for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · price: On July 19, 2018, American Finance Operating Partnership, L.P. (the "OP"), the operating partnership of American Finance Trust, Inc. (the "Registrant"), issued American Finance Advisors, LLC (the "Advisor") one unit of limited partnership of the OP designated as the "Master LTIP Unit" (the "Master LTIP Unit") pursuant to the 2018 Advisor Multi-Year Outperformance Agreement, dated as of July 19, 2018, among the Registrant, the OP and the Advisor (the "OPP") and the 2018 Advisor Omnibus Incentive Compensation Plan of the Registrant. On August 30, 2018, in accordance with the terms of the agreement of limited partnership of the OP (the "Partnership Agreement"), the Master LTIP Unit automatically converted into 4,496,796 units of limited partnership of the OP designated as "LTIP Units" ("LTIP Units"), representing the quotient, rounded down to the nearest whole number, of (a) 72,000,000, divided by (b) the Initial Share Price (as defined in the OPP).

F2 · price: The Initial Share Price is equal to $16.0114, representing the average of the Fair Market Value (as defined in the OPP) of one share of Class A common stock over the ten consecutive trading days immediately prior to August 30, 2018, and Fair Market Value as defined in the OPP for these purposes means the average closing price of Class A common stock for the ten consecutive trading days immediately preceding the date of the valuation. These LTIP Units may be earned by the Advisor based on the Registrant's achievement of threshold, target and maximum performance goals based on the Registrant's absolute and relative total stockholder return over a performance period commencing on July 19, 2018 and ending on the earliest of (i) July 19, 2021, (ii) the effective date of any Change of Control (as defined in the OPP) and (iii) the effective date of any termination of the Advisor's service as advisor of the Registrant.

F3 · price: LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Registrant or the OP. Thereafter, subject to and in accordance with the terms of the Partnership Agreement, the Advisor, in its sole discretion, shall be entitled to convert any earned and vested LTIP Units into units of limited partnership of the OP designated as "Class A Units" ("Class A Units"). Pursuant to the redemption provisions contained in the Partnership Agreement, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units on a one-for-one basis for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.exercise_date: On July 19, 2018, American Finance Operating Partnership, L.P. (the "OP"), the operating partnership of American Finance Trust, Inc. (the "Registrant"), issued American Finance Advisors, LLC (the "Advisor") one unit of limited partnership of the OP designated as the "Master LTIP Unit" (the "Master LTIP Unit") pursuant to the 2018 Advisor Multi-Year Outperformance Agreement, dated as of July 19, 2018, among the Registrant, the OP and the Advisor (the "OPP") and the 2018 Advisor Omnibus Incentive Compensation Plan of the Registrant. On August 30, 2018, in accordance with the terms of the agreement of limited partnership of the OP (the "Partnership Agreement"), the Master LTIP Unit automatically converted into 4,496,796 units of limited partnership of the OP designated as "LTIP Units" ("LTIP Units"), representing the quotient, rounded down to the nearest whole number, of (a) 72,000,000, divided by (b) the Initial Share Price (as defined in the OPP).

F2 · derivative.exercise_date: The Initial Share Price is equal to $16.0114, representing the average of the Fair Market Value (as defined in the OPP) of one share of Class A common stock over the ten consecutive trading days immediately prior to August 30, 2018, and Fair Market Value as defined in the OPP for these purposes means the average closing price of Class A common stock for the ten consecutive trading days immediately preceding the date of the valuation. These LTIP Units may be earned by the Advisor based on the Registrant's achievement of threshold, target and maximum performance goals based on the Registrant's absolute and relative total stockholder return over a performance period commencing on July 19, 2018 and ending on the earliest of (i) July 19, 2021, (ii) the effective date of any Change of Control (as defined in the OPP) and (iii) the effective date of any termination of the Advisor's service as advisor of the Registrant.

F3 · derivative.exercise_date: LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Registrant or the OP. Thereafter, subject to and in accordance with the terms of the Partnership Agreement, the Advisor, in its sole discretion, shall be entitled to convert any earned and vested LTIP Units into units of limited partnership of the OP designated as "Class A Units" ("Class A Units"). Pursuant to the redemption provisions contained in the Partnership Agreement, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units on a one-for-one basis for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.expiration_date: On July 19, 2018, American Finance Operating Partnership, L.P. (the "OP"), the operating partnership of American Finance Trust, Inc. (the "Registrant"), issued American Finance Advisors, LLC (the "Advisor") one unit of limited partnership of the OP designated as the "Master LTIP Unit" (the "Master LTIP Unit") pursuant to the 2018 Advisor Multi-Year Outperformance Agreement, dated as of July 19, 2018, among the Registrant, the OP and the Advisor (the "OPP") and the 2018 Advisor Omnibus Incentive Compensation Plan of the Registrant. On August 30, 2018, in accordance with the terms of the agreement of limited partnership of the OP (the "Partnership Agreement"), the Master LTIP Unit automatically converted into 4,496,796 units of limited partnership of the OP designated as "LTIP Units" ("LTIP Units"), representing the quotient, rounded down to the nearest whole number, of (a) 72,000,000, divided by (b) the Initial Share Price (as defined in the OPP).

F2 · derivative.expiration_date: The Initial Share Price is equal to $16.0114, representing the average of the Fair Market Value (as defined in the OPP) of one share of Class A common stock over the ten consecutive trading days immediately prior to August 30, 2018, and Fair Market Value as defined in the OPP for these purposes means the average closing price of Class A common stock for the ten consecutive trading days immediately preceding the date of the valuation. These LTIP Units may be earned by the Advisor based on the Registrant's achievement of threshold, target and maximum performance goals based on the Registrant's absolute and relative total stockholder return over a performance period commencing on July 19, 2018 and ending on the earliest of (i) July 19, 2021, (ii) the effective date of any Change of Control (as defined in the OPP) and (iii) the effective date of any termination of the Advisor's service as advisor of the Registrant.

F3 · derivative.expiration_date: LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Registrant or the OP. Thereafter, subject to and in accordance with the terms of the Partnership Agreement, the Advisor, in its sole discretion, shall be entitled to convert any earned and vested LTIP Units into units of limited partnership of the OP designated as "Class A Units" ("Class A Units"). Pursuant to the redemption provisions contained in the Partnership Agreement, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units on a one-for-one basis for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which own the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.

SEC source: 0001144204-18-039417 · tv499056_4.xml · derivative · entry 5

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 0

Underlying: Class A Common Stock · 30,690.5 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · kind: Following the Listing, 30,690.5 Class A Units held by affiliates of the Advisor, American Realty Capital Retail Advisor, LLC and American Finance Special Limited Partner, LLC (collectively, the "Advisor Parties"), were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.exercise_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · derivative.exercise_date: Following the Listing, 30,690.5 Class A Units held by affiliates of the Advisor, American Realty Capital Retail Advisor, LLC and American Finance Special Limited Partner, LLC (collectively, the "Advisor Parties"), were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.expiration_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · derivative.expiration_date: Following the Listing, 30,690.5 Class A Units held by affiliates of the Advisor, American Realty Capital Retail Advisor, LLC and American Finance Special Limited Partner, LLC (collectively, the "Advisor Parties"), were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor and the Advisor Parties, which own the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.

SEC source: 0001144204-18-039417 · tv499056_4.xml · nonDerivative · entry 2

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,091,998.5

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · kind: Following the Listing, 30,690.5 Class A Units held by affiliates of the Advisor, American Realty Capital Retail Advisor, LLC and American Finance Special Limited Partner, LLC (collectively, the "Advisor Parties"), were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · shares: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · shares: Following the Listing, 30,690.5 Class A Units held by affiliates of the Advisor, American Realty Capital Retail Advisor, LLC and American Finance Special Limited Partner, LLC (collectively, the "Advisor Parties"), were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · price: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F4 · price: Following the Listing, 30,690.5 Class A Units held by affiliates of the Advisor, American Realty Capital Retail Advisor, LLC and American Finance Special Limited Partner, LLC (collectively, the "Advisor Parties"), were redeemed by the Registrant, as the General Partner of the OP, for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F5 · balance_after: Prior to the Listing, the Special Limited partner owned 8,888 shares of common stock which, following a series of corporate actions prior to the Listing described in the Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on July 9, 2018, became 4,444 shares of Class A common stock, 2,222 shares of the Registrant's Class B-1 common stock and 2,222 shares of the Registrant's Class B-2 common stock.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor and the Advisor Parties, which own the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.

F7 · ownership.nature: The shares of Class A common stock were subsequently distributed pro rata to the equity owners of the Advisor and the Advisor Parties and a portion of the shares which the reporting person reported herein except to the extent of his pecuniary interest are now held directly by the reporting person. The number of shares of Class A common stock beneficially owned by the reporting person following this distribution is 38,173.

SEC source: 0001144204-18-039417 · tv499056_4.xml · derivative · entry 4

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 30,690.5

Underlying: Class A Common Stock · 1,052,420 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: American Finance Advisors, LLC (the "Advisor"), the external advisor of American Finance Trust, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of American Finance Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · kind: Effective at the listing of the Registrant's Class A common stock on The Nasdaq Global Select Market under the symbol "AFIN" on July 19, 2018 (the "Listing"), 1,052,420 Class B Units, all of which were owned by the Advisor, were converted into an equal number of units of limited partnership of the OP designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.exercise_date: American Finance Advisors, LLC (the "Advisor"), the external advisor of American Finance Trust, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of American Finance Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · derivative.exercise_date: Effective at the listing of the Registrant's Class A common stock on The Nasdaq Global Select Market under the symbol "AFIN" on July 19, 2018 (the "Listing"), 1,052,420 Class B Units, all of which were owned by the Advisor, were converted into an equal number of units of limited partnership of the OP designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.exercise_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.expiration_date: American Finance Advisors, LLC (the "Advisor"), the external advisor of American Finance Trust, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of American Finance Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · derivative.expiration_date: Effective at the listing of the Registrant's Class A common stock on The Nasdaq Global Select Market under the symbol "AFIN" on July 19, 2018 (the "Listing"), 1,052,420 Class B Units, all of which were owned by the Advisor, were converted into an equal number of units of limited partnership of the OP designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.expiration_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor and the Advisor Parties, which own the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.

SEC source: 0001144204-18-039417 · tv499056_4.xml · derivative · entry 3

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,083,110.5

Underlying: Class A Common Stock · 1,052,420 shares

Expires not disclosed

F1 · kind: American Finance Advisors, LLC (the "Advisor"), the external advisor of American Finance Trust, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of American Finance Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · kind: Effective at the listing of the Registrant's Class A common stock on The Nasdaq Global Select Market under the symbol "AFIN" on July 19, 2018 (the "Listing"), 1,052,420 Class B Units, all of which were owned by the Advisor, were converted into an equal number of units of limited partnership of the OP designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.exercise_date: American Finance Advisors, LLC (the "Advisor"), the external advisor of American Finance Trust, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of American Finance Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · derivative.exercise_date: Effective at the listing of the Registrant's Class A common stock on The Nasdaq Global Select Market under the symbol "AFIN" on July 19, 2018 (the "Listing"), 1,052,420 Class B Units, all of which were owned by the Advisor, were converted into an equal number of units of limited partnership of the OP designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.exercise_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · derivative.expiration_date: American Finance Advisors, LLC (the "Advisor"), the external advisor of American Finance Trust, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of American Finance Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · derivative.expiration_date: Effective at the listing of the Registrant's Class A common stock on The Nasdaq Global Select Market under the symbol "AFIN" on July 19, 2018 (the "Listing"), 1,052,420 Class B Units, all of which were owned by the Advisor, were converted into an equal number of units of limited partnership of the OP designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · derivative.expiration_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor and the Advisor Parties, which own the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.

SEC source: 0001144204-18-039417 · tv499056_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,061,308

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: American Finance Advisors, LLC (the "Advisor"), the external advisor of American Finance Trust, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of American Finance Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · kind: Effective at the listing of the Registrant's Class A common stock on The Nasdaq Global Select Market under the symbol "AFIN" on July 19, 2018 (the "Listing"), 1,052,420 Class B Units, all of which were owned by the Advisor, were converted into an equal number of units of limited partnership of the OP designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · shares: American Finance Advisors, LLC (the "Advisor"), the external advisor of American Finance Trust, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of American Finance Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · shares: Effective at the listing of the Registrant's Class A common stock on The Nasdaq Global Select Market under the symbol "AFIN" on July 19, 2018 (the "Listing"), 1,052,420 Class B Units, all of which were owned by the Advisor, were converted into an equal number of units of limited partnership of the OP designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · shares: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F1 · price: American Finance Advisors, LLC (the "Advisor"), the external advisor of American Finance Trust, Inc. (the "Registrant"), was entitled to a "profits interest" in the form of units of limited partnership designated as "Class B Units" ("Class B Units") of American Finance Operating Partnership, L.P. (the "OP") in connection with its asset management services.

F2 · price: Effective at the listing of the Registrant's Class A common stock on The Nasdaq Global Select Market under the symbol "AFIN" on July 19, 2018 (the "Listing"), 1,052,420 Class B Units, all of which were owned by the Advisor, were converted into an equal number of units of limited partnership of the OP designated as "Class A Units" ("Class A Units") in accordance with the terms of the agreement of limited partnership of the OP. Following this conversion, the Registrant, as the General Partner of the OP, redeemed these Class A Units for an equal number of shares of the Registrant's newly issued Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP.

F3 · price: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of Class A Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its Class A Units for, at the Registrant's election, either shares of Class A common stock or the cash equivalent thereof.

F5 · balance_after: Prior to the Listing, the Special Limited partner owned 8,888 shares of common stock which, following a series of corporate actions prior to the Listing described in the Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on July 9, 2018, became 4,444 shares of Class A common stock, 2,222 shares of the Registrant's Class B-1 common stock and 2,222 shares of the Registrant's Class B-2 common stock.

F6 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor and the Advisor Parties, which own the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.

SEC source: 0001144204-18-039391 · tv498945_4.xml · derivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 2,554,930

Underlying: Common Stock · 2,554,930 shares

Expires not disclosed

F1 · kind: Represents units of limited partnership interest designated as "LTIP Units" ("LTIP Units") in Global Net Lease Operating Partnership, L.P. (the "OP"), the operating partnership of Global Net Lease, Inc. (the "Company"), issued to the Company's external advisor, Global Net Lease Advisors, LLC (the "Advisor") under the 2018 Advisor Multi-Year Outperformance Agreement, dated as of July 19, 2018, among the Company, the OP and the Advisor (the "2018 OPP"). These LTIP Units may be earned by the Advisor based on the Company's achievement of threshold, target and maximum performance goals based on the Company's absolute and relative total stockholder return over a performance period commencing on June 2, 2018 and ending on the earliest of (i) June 2, 2021, (ii) the effective date of any Change of Control (as defined in the 2018 OPP) and (iii) the effective date of any termination of the Advisor's service as advisor of the Company.

F2 · kind: LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Company or the OP. At the time the Advisor's capital account with respect to an LTIP Unit is economically equivalent to the average capital account balance of a units of limited partnership interest in the OP designated as an "OP Unit" ("OP Units"), the LTIP Unit has been earned and it has been vested for 30 days, the Advisor, in its sole discretion, will be entitled to convert the LTIP Unit into an OP Unit in accordance with the agreement of limited partnership of the OP.

F3 · kind: In accordance with, and subject to the terms of, the agreement of limited partnership of the OP, OP Units may be redeemed on a one-for-one basis for, at the Company's election, shares of the Company's common stock or the cash equivalent thereof.

F1 · price: Represents units of limited partnership interest designated as "LTIP Units" ("LTIP Units") in Global Net Lease Operating Partnership, L.P. (the "OP"), the operating partnership of Global Net Lease, Inc. (the "Company"), issued to the Company's external advisor, Global Net Lease Advisors, LLC (the "Advisor") under the 2018 Advisor Multi-Year Outperformance Agreement, dated as of July 19, 2018, among the Company, the OP and the Advisor (the "2018 OPP"). These LTIP Units may be earned by the Advisor based on the Company's achievement of threshold, target and maximum performance goals based on the Company's absolute and relative total stockholder return over a performance period commencing on June 2, 2018 and ending on the earliest of (i) June 2, 2021, (ii) the effective date of any Change of Control (as defined in the 2018 OPP) and (iii) the effective date of any termination of the Advisor's service as advisor of the Company.

F2 · price: LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Company or the OP. At the time the Advisor's capital account with respect to an LTIP Unit is economically equivalent to the average capital account balance of a units of limited partnership interest in the OP designated as an "OP Unit" ("OP Units"), the LTIP Unit has been earned and it has been vested for 30 days, the Advisor, in its sole discretion, will be entitled to convert the LTIP Unit into an OP Unit in accordance with the agreement of limited partnership of the OP.

F3 · price: In accordance with, and subject to the terms of, the agreement of limited partnership of the OP, OP Units may be redeemed on a one-for-one basis for, at the Company's election, shares of the Company's common stock or the cash equivalent thereof.

F1 · derivative.exercise_date: Represents units of limited partnership interest designated as "LTIP Units" ("LTIP Units") in Global Net Lease Operating Partnership, L.P. (the "OP"), the operating partnership of Global Net Lease, Inc. (the "Company"), issued to the Company's external advisor, Global Net Lease Advisors, LLC (the "Advisor") under the 2018 Advisor Multi-Year Outperformance Agreement, dated as of July 19, 2018, among the Company, the OP and the Advisor (the "2018 OPP"). These LTIP Units may be earned by the Advisor based on the Company's achievement of threshold, target and maximum performance goals based on the Company's absolute and relative total stockholder return over a performance period commencing on June 2, 2018 and ending on the earliest of (i) June 2, 2021, (ii) the effective date of any Change of Control (as defined in the 2018 OPP) and (iii) the effective date of any termination of the Advisor's service as advisor of the Company.

F2 · derivative.exercise_date: LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Company or the OP. At the time the Advisor's capital account with respect to an LTIP Unit is economically equivalent to the average capital account balance of a units of limited partnership interest in the OP designated as an "OP Unit" ("OP Units"), the LTIP Unit has been earned and it has been vested for 30 days, the Advisor, in its sole discretion, will be entitled to convert the LTIP Unit into an OP Unit in accordance with the agreement of limited partnership of the OP.

F3 · derivative.exercise_date: In accordance with, and subject to the terms of, the agreement of limited partnership of the OP, OP Units may be redeemed on a one-for-one basis for, at the Company's election, shares of the Company's common stock or the cash equivalent thereof.

F1 · derivative.expiration_date: Represents units of limited partnership interest designated as "LTIP Units" ("LTIP Units") in Global Net Lease Operating Partnership, L.P. (the "OP"), the operating partnership of Global Net Lease, Inc. (the "Company"), issued to the Company's external advisor, Global Net Lease Advisors, LLC (the "Advisor") under the 2018 Advisor Multi-Year Outperformance Agreement, dated as of July 19, 2018, among the Company, the OP and the Advisor (the "2018 OPP"). These LTIP Units may be earned by the Advisor based on the Company's achievement of threshold, target and maximum performance goals based on the Company's absolute and relative total stockholder return over a performance period commencing on June 2, 2018 and ending on the earliest of (i) June 2, 2021, (ii) the effective date of any Change of Control (as defined in the 2018 OPP) and (iii) the effective date of any termination of the Advisor's service as advisor of the Company.

F2 · derivative.expiration_date: LTIP Units earned as of the last day of the performance period will also become vested as of that date. Effective as of that same date, any LTIP Units that are not earned and vested will automatically and without notice be forfeited without the payment of any consideration by the Company or the OP. At the time the Advisor's capital account with respect to an LTIP Unit is economically equivalent to the average capital account balance of a units of limited partnership interest in the OP designated as an "OP Unit" ("OP Units"), the LTIP Unit has been earned and it has been vested for 30 days, the Advisor, in its sole discretion, will be entitled to convert the LTIP Unit into an OP Unit in accordance with the agreement of limited partnership of the OP.

F3 · derivative.expiration_date: In accordance with, and subject to the terms of, the agreement of limited partnership of the OP, OP Units may be redeemed on a one-for-one basis for, at the Company's election, shares of the Company's common stock or the cash equivalent thereof.

F4 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.

SEC source: 0001144204-18-015737 · tv488876_4.xml · nonDerivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,018

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $16.47 to $16.85, inclusive. The reporting person undertakes to provide to Global Net Lease, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

SEC source: 0001144204-18-039416 · tv499055_4.xml · derivative · entry 1

Weil Edward M Jr. · CIK 0001490448 · Director · CEO and President

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 30,690.5

Underlying: Common Stock · 30,600.5 shares

Expires not disclosed

F1 · kind: On February 16, 2017, American Finance Trust, Inc. (the "Company") and its operating partnership, American Finance Operating Partnership, L.P. (the "OP"), completed (a) the merger of American Realty Capital -- Retail Centers of America, Inc. ("RCA") with and into a subsidiary of the Company, with the subsidiary surviving as a wholly owned subsidiary of the Company and (b) the merger of American Realty Capital Retail Operating Partnership, L.P. (the "RCA OP") with and into the OP, with the OP as the surviving entity (together, the "Merger"). In connection with, and subject to the terms and conditions of the agreement governing the Merger, limited partner interests in the RCA OP designated as "OP units" held by American Realty Capital Retail Advisor, LLC (the "RCA Advisor"), an affiliate of the Company's advisor that served as the external advisor to RCA, were exchanged for limited partner interests in the OP designated as "OP units" ("OP Units").

F2 · kind: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of OP Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its OP Units for, at the Registrant's election, either shares of common stock or the cash equivalent thereof.

F1 · derivative.exercise_date: On February 16, 2017, American Finance Trust, Inc. (the "Company") and its operating partnership, American Finance Operating Partnership, L.P. (the "OP"), completed (a) the merger of American Realty Capital -- Retail Centers of America, Inc. ("RCA") with and into a subsidiary of the Company, with the subsidiary surviving as a wholly owned subsidiary of the Company and (b) the merger of American Realty Capital Retail Operating Partnership, L.P. (the "RCA OP") with and into the OP, with the OP as the surviving entity (together, the "Merger"). In connection with, and subject to the terms and conditions of the agreement governing the Merger, limited partner interests in the RCA OP designated as "OP units" held by American Realty Capital Retail Advisor, LLC (the "RCA Advisor"), an affiliate of the Company's advisor that served as the external advisor to RCA, were exchanged for limited partner interests in the OP designated as "OP units" ("OP Units").

F2 · derivative.exercise_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of OP Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its OP Units for, at the Registrant's election, either shares of common stock or the cash equivalent thereof.

F1 · derivative.expiration_date: On February 16, 2017, American Finance Trust, Inc. (the "Company") and its operating partnership, American Finance Operating Partnership, L.P. (the "OP"), completed (a) the merger of American Realty Capital -- Retail Centers of America, Inc. ("RCA") with and into a subsidiary of the Company, with the subsidiary surviving as a wholly owned subsidiary of the Company and (b) the merger of American Realty Capital Retail Operating Partnership, L.P. (the "RCA OP") with and into the OP, with the OP as the surviving entity (together, the "Merger"). In connection with, and subject to the terms and conditions of the agreement governing the Merger, limited partner interests in the RCA OP designated as "OP units" held by American Realty Capital Retail Advisor, LLC (the "RCA Advisor"), an affiliate of the Company's advisor that served as the external advisor to RCA, were exchanged for limited partner interests in the OP designated as "OP units" ("OP Units").

F2 · derivative.expiration_date: Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, a holder of OP Units that (subject to certain exceptions) have been outstanding for at least one year may redeem all or a portion of his, her or its OP Units for, at the Registrant's election, either shares of common stock or the cash equivalent thereof.

F3 · ownership.nature: The reporting person is the chief executive officer, and also holds a non-controlling equity interest in, the entities that own and control the RCA Advisor, which owns the reported securities. The reporting person disclaims beneficial ownership of the securities reported on this Form 4 except to the extent of his pecuniary interest therein.