Management Change/Compensation (Form 8-K)

On December 8, 2025, our Board of Trustees, or the Board, appointed Yael Duffy, currently our President and Chief Operating Officer, as a Managing Trustee and as our President and Chief Executive Officer, effective January 1, 2026.

Ms. Duffy, age 46, has served as our Vice President from June 2019 to April 2022, as our Chief Operating Officer since May 2020, and as our President since April 2022. Ms. Duffy also currently serves as an executive vice president of our manager, The RMR Group LLC, or RMR, responsible for overseeing asset management, leasing and property management functions of a portfolio of office, industrial and retail properties managed by RMR. Ms. Duffy joined RMR in 2006 and has served in various capacities with RMR since that time. Ms. Duffy has also been president and chief operating officer of Office Properties Income Trust since January 2024.

Ms. Duffy succeeds Matthew P. Jordan as a Managing Trustee, who resigned effective December 31, 2025. Mr. Jordan advised the Board that his resignation was not the result of any disagreement with us, our management or the Board on any matter relating to our operations, policies or practices.

For her service as a Managing Trustee, Ms. Duffy will be entitled to the compensation we generally provide to our Managing Trustees. There is no arrangement or understanding between Ms. Duffy and any other person pursuant to which Ms. Duffy was appointed as Managing Trustee or President and Chief Executive Officer. There are no transactions, relationships or agreements between Ms. Duffy and us that would require disclosure pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended. Ms. Duffy does not have a family relationship with any member of the Board or any of our executive officers.