Franklin Street Properties Corp 2024年度报告

SECURITIES AND EXCHANGE COMMISSION FORM 10-K (Mark One) ☐ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-32470 FRANKLIN STREET PROPERTIES CORP. Registrant’s telephone number, including area code:(781) 557-1300 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes⌧No⌧.Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes⌧No⌧. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days. Yes ☐ No ☐. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrantwas required to submit such files). Yes ☐ No ☐. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer ☐Smaller reporting company ☐Emerging growth company ☐ Large accelerated filer ☐Non-accelerated filer ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report. ☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.⌧ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).⌧ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☐. The aggregate market value of the voting and non-voting common equity held by non-affiliates based on the closing sale price asreported on NYSE American, as of the last business day of the registrant’s most recently completed second fiscal quarter, June 30, 2024, wasapproximately $147,967,048. There were 103,566,715 shares of common stock of the registrant outstanding as of February 7, 2025. Documents incorporated by reference: The registrant intends to file a definitive proxy statement pursuant to Regulation 14A, promulgated underthe Securities Exchange Act of 1934, as amended, to be used in connection with the registrant’s Annual Meeting of Stockholders to be held onMay 15, 2025 (the “Proxy Statement”). The information required in response to Items 10 — 14 of Part III of this Form 10-K, other than thatcontained in Part I under the caption, “Information about our Executive Officers,” is hereby incorporated by reference to the Proxy Statement. TABLE OF CONTENTS PART I1Item 1.Business1Item 1A.Risk Factors8Item 1B.Unresolved Staff Comments17Item 1C.Cybersecurity18Item 2.Properties19Item 3.Legal Proceedings22Item 4.Mine Safety Disclosures22PART II23Item 5.Market For Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities23Stock Performance Graph23Item 6.[Reserved]24Item 7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations24Item 7A.Quantitative and Qualitative Disclosures About Market Risk44Item 8.Financial Statements and Supplementary Data44Item 9.Changes in and Disagreements With Accountants on Accounting and FinancialDisclosure44Item 9A.Controls and Procedures45Item 9B.Other Information46Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections46PART III47Item 10.Directors, Executive Officers and Corporate Governance47Item 11.Executive Compensation47Item 12.Security Ownership