HIW · 10-Q · 2026Q1 · Full report

Equity Distribution Agreement

HIGHWOODS PROPERTIES, INC. · 2026-04-28 · Importance 64 · Surprise 42

During Q1 2026 Highwoods entered into equity distribution agreements with seven dealers under which it may offer and sell up to $300.0 million in aggregate gross proceeds of Common Stock, including via forward sale agreements. The agreements permit sales by ordinary brokers’ transactions on the NYSE, at market prices or negotiated prices, and may include block trades. Management reported that no shares of Common Stock were issued under these agreements during Q1 2026. The Company also maintains an effective Form S-3 shelf registration permitting future offerings of equity and debt securities by Highwoods and its Operating Partnership.

Key facts

• The Company entered into equity distribution agreements in Q1 2026 with Wells Fargo Securities, BofA Securities, BTIG, Jefferies, J.P. Morgan Securities, TD Securities (USA) and Truist Securities pursuant to which it may offer and sell up to $300.0 million in aggregate gross sales price of shares of Common Stock.
• During the first quarter of 2026 there were no shares of common stock issued under the equity distribution agreements.

Impact estimates