X0306 4 2016-02-06 0 0001575965 Gaming & Leisure Properties, Inc. GLPI 0001211342 CARLINO PETER M 845 BERKSHIRE BOULEVARD SUITE 200 WYOMISSING PA 19610 1 1 1 0 Chairman & CEO Common Stock 2016-02-06 4 M 0 17784 A 3542872 D Common Stock 2016-02-06 4 D 0 17784 26.88 D 3525088 D Common Stock 7682888 I By Trusts Phantom Stock Units 2016-02-06 4 M 0 17784 D Common Stock 17784 0 D The recipient receives a cash payment for each unit equal to the fair market value on the vesting date of one share of the Company's Common Stock. Of the original award of Phantom Stock Units, 17,784 units vested on February 6, 2016. Includes: (i) 436,700 shares owned by a residuary trust for the benefit of Peter D. Carlino and Peter D. Carlino's children, as to which Mr. Carlino has shared voting and investment power; and (ii) 7,563,016 shares held by the Carlino Family Trust, as to which Peter M. Carlino has sole voting power for certain matters. The reporting person disclaims beneficial ownership of the shares owned by the trusts, except to the extent of his pecuniary interest therein, and this report should not be deemed an admission the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. Peter M. Carlino 2016-02-09