DENVER, April 14, 2014 (GLOBE NEWSWIRE) -- Dividend Capital Diversified Property Fund Inc. ("DPF" or "the Company"), a public reporting, daily NAV REIT (Nasdaq:ZDPFEX) (Nasdaq:ZDPFAX) (Nasdaq:ZDPFWX) (Nasdaq:ZDPFIX), has, pursuant to a Restricted Stock Unit (RSU) Agreement, issued 493,575 restricted stock units ("RSUs") to Dividend Capital Total Advisors LLC, the Company's external advisor (the "Advisor"), in return for offsets of future advisory fees and expenses. Each RSU will, upon vesting, entitle the Advisor to one Class I share of the Company's common stock. The Advisor is expected to redistribute a significant portion of the RSUs and/or shares to senior level employees of the Advisor and its affiliates that provide services to the Company.
"We believe a comprehensive plan like this is unprecedented," stated Jeff Johnson, Chief Executive Officer of DPF. "This RSU program will help us to align interests of our Advisor and its employees with our stockholders, and promote, retain and motivate those dedicated employees going forward." In addition to the RSU issuances to the Advisor, the Company has also initiated equity award programs for its independent directors and non-executive employees of its Advisor.
Mr. Johnson continued, "This is part of our continued initiative to increase share ownership among our senior management team, our Board of Directors and the employees of our Advisor. In fact, last year, the senior management team personally purchased over $1.5 million of stock and earlier this year, our Board of Directors unanimously voted to take part of their compensation in the form of stock. The RSU program is just another step in continuing to align interests."
About Dividend Capital Diversified Property Fund
Dividend Capital Diversified Property Fund is a public reporting, daily NAV vehicle based in Denver, CO that invests in a diversified portfolio of commercial real estate assets. The company owned 70 properties totaling approximately 11.9 million square feet in 25 geographic markets as of January 31, 2014. More information is available at www.dividendcapitaldiversified.com.
This material may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect(s)," "could," "should," and "continue" and similar statements are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results that are materially different than those described in the forward-looking statements. The Company cannot give assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, a failure of the Company's equity compensation initiatives to promote retention of the Company's directors, the Company's senior management, and the other personnel of the Advisor and its affiliates, as well as other risks detailed from time to time in the Company's Securities and Exchange Commission reports, particularly the section entitled "Risk Factors" in Item 1A of the Company's Annual Report on Form 10-K. Such forward-looking statements pertain only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions, or circumstances on which any statement is based.