SPIRIT REALTY CAPITAL, INC. (NYSE:SRC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

On May12, 2017, David J. Gilbert resigned from the board of
directors (the Board) of Spirit Realty Capital, Inc. (the
Company) due to restrictions in his current employment regarding
service on the board of directors of public companies. His
resignation was effective May12, 2017. In tendering his
resignation, Mr.Gilbert expressed no disagreement with the
Company. As a consequence of Mr.Gilberts departure, the Board
decreased the size of the Board from nine to eight directors,
effective May12, 2017.

On May11, 2017, the Board amended Article XV of the bylaws of the
Company (the Bylaws) to allow the stockholders of the Company to
alter or repeal any provision of the Bylaws and adopt new Bylaws
by the affirmative vote of two-thirds of all the votes
entitled to be cast on the matter and restated the Bylaws as so
amended. Previously, the Board had the exclusive power to adopt,
alter or repeal any provision of the Bylaws and adopt new Bylaws.
Under the amendment, the Board continues to have the power to do
so, coextensive with the right of the stockholders of the Company
described above.