Franklin Street Properties (FSP) Proxy Filing summary

Executive summary

• The annual meeting will be held virtually on May 15, 2025, with shareholders able to vote and submit questions online.

• Shareholders as of March 4, 2025, are entitled to vote on key proposals, including director elections, auditor ratification, and executive compensation.

• The company operates as a REIT focused on commercial office properties, with recent efforts to increase shareholder value through property dispositions and debt repayment.

• In 2024, property sales generated $100 million in gross proceeds, and $155 million in debt was repaid.

Voting matters and shareholder proposals

• Shareholders will vote on electing six directors for one-year terms, ratifying Ernst & Young LLP as auditor for 2025, and approving executive compensation by advisory vote.

• The board recommends voting FOR all proposals.

• Shareholders may submit proposals for the 2026 meeting between November 4 and December 4, 2025.

Board of directors and corporate governance

• The board will reduce from eight to six members after the meeting, with two directors not standing for re-election.

• Five of six nominees are independent; the board includes gender and ethnic diversity.

• The board has a lead independent director, annual elections, and a director resignation policy.

• Committees (Audit, Compensation, Nominating/Governance) are fully independent.

• Stockholders have the power to amend bylaws by majority vote.

• Anti-hedging policy and no poison pill in place.