Franklin Street Properties Corp 2025年度报告

FORM 10-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromtoCommission File No.001-32470 FRANKLIN STREET PROPERTIES CORP. (Exact name of registrant as specified in its charter) Registrant’s telephone number, including area code:(781) 557-1300Securities registered pursuant to Section12(b)of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Yes◻No⌧.Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act. Yes◻No⌧. Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities ExchangeAct of 1934 during the preceding 12 months (orfor such shorter period that the registrant was required to file such reports), and (2)has been subject tosuch 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 submitted pursuant toRule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files). Yes☒No☐. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and“emerging growth company” in Rule12b-2 of the Exchange Act. 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 for complyingwith any new or revised financial accounting standards provided pursuant to Section13(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 effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firmthat 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 the registrantincluded 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 Rule12b-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 as reported onNYSE American, as of the last business day of the registrant’s most recently completed second fiscal quarter, June30, 2025, was approximately$155,302,675. There were 103,690,340 shares of common stock of the registrant outstanding as of March 5, 2026. Documents incorporated by reference: The registrant intends to file a definitive proxy statement pursuant to Regulation14A, promulgated under theSecurities Exchange Act of 1934, as amended, to be used in connection with the registrant’s Annual Meeting of Stockholders to be held on May14, 2026(the “Proxy Statement”). The information required in response to Items 10 — 14 of PartIII of this Form10-K, other than that contained in PartI underthe caption, “Information about our Executive Officers,” is hereby incorporated by reference to the Proxy Statement. TABLE OF CONTENTS PARTIItem 1. Business1Item 1A.Risk Factors8Item 1B.Unresolved Staff Comments17Item 1C.Cybersecurity17Item 2.Properties18Item 3.Legal Proceedings21Item 4.Mine Safety Disclosures21 PARTII22Item 5.Market For Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities22Stock Performance Graph22Item 6.[Reserved]23Item 7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations23Item 7A.Quantitative and Qualitative Disclosures About Market Risk40Item 8.Financial Statements and Supplementary Data40Item 9.Changes in and Disagreements With Accountants on Accounting and FinancialDisclosure40Item 9A.Controls and Procedures41Item 9B.Other Information42Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections42 Item 10.Directors, Executive Officers and Corporate GovernanceItem 11.Executive CompensationItem 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder MattersIt