Table of Contents Following the initial one-year period, the ARK Manager will no longer be permitted to purchase any of the properties and will be required to undertake a marketing process for any property that it did not purchase pursuant to its option in order to achieve an orderly disposition of any remaining property investments to one or more third parties. Any such proposed transaction would be on terms negotiated between the ARK Manager and the third-party buyer and therefore not determined by reference to the purchase price formula described in the paragraph above. The ARK Manager will receive a percentage of the gross consideration paid in connection with any such disposition. With respect to the six properties not currently occupied by the Company, in connection with exercising its option to acquire a property in the first year of the management agreement, the ARK Manager and the Company may determine that a subsidiary of the Company should occupy any of such properties to the extent the ARK Manager and the Company agree on terms of any such occupancy agreement. However, the majority of the properties are long- term development projects and it is not anticipated that they will be available for lease during the option period. The terms of any such occupancy agreement will be subject to the Company’s related party transaction policy, the required approval of the Company’s board of directors and require the consent of the members of the ARK management committee designated by the Rhône Group. Adam has committed not to purchase any additional properties with the purpose of making them available for the Company’s occupancy. The Company, through ARK or otherwise, does not expect to engage in further transactions with landlord vehicles in which Adam has an ownership interest. Company Loans As a private company, in order to ensure alignment with our investor base, we have kept a captive capitalization table and have not allowed sales of equity other than in a manner organized by the Company. From time to time over the past several years, we made loans directly to Adam or his affiliated entities (in addition to the 2019 loan described above). None of these loans are outstanding as of the date of this prospectus. • In May 2013 and February 2014, we issued loans to WE Holdings LLC for $10.4 million (interest rate 0.2% per year; maturity May 30, 2016) and $15.0 million (interest rate 0.2% per year; maturity February 4, 2017), respectively. The loans were collateralized by shares of our capital stock held by We Holdings LLC, and each loan provided us with the option to purchase a number of these shares in full settlement of the applicable loan. We exercised these options in May 2016, purchasing and retiring an aggregate of 8,398,670 shares of our capital stock in full settlement of the loans. • In June 2016, we issued a loan to Adam totaling $7.0 million (interest rate of 0.64% per year; maturity June 14, 2019). In November 2017, Adam repaid the loan in full, including $0.1 million in interest, in cash. Personal Loans Adam currently has a line of credit of up to $500 million with UBS AG, Stamford Branch, JPMorgan Chase Bank, N.A. and Credit Suisse AG, New York Branch, of which approximately $380 million principal amount was outstanding as of July 31, 2019. The line of credit is secured by a pledge of approximately shares of our Class B common stock beneficially owned by Adam. In addition, JPMorgan Chase Bank, N.A. has made loans and extended credit to Adam totaling $97.5 million across a variety of lending products, including mortgages secured by personal property. None of these other lending products are secured by a pledge of any of Adam’s shares of capital stock in the Company. Family Relationships One of Adam’s immediate family members hosted eight events relating to our Creator Awards ceremonies in 2018, for which she was paid an aggregate of less than $200,000. Another one of Adam’s immediate family members has been employed as head of the Company’s wellness offering since 2017, and he receives less than $200,000 per year for acting in this capacity. 201