Item 2.01. Completion of Acquisition or Disposition of Assets.
The merger, or the Merger, of Select Income REIT, or SIR, a Maryland real estate investment trust, with and into GOV MS REIT, or Merger Sub, a Maryland real estate investment trust and our wholly owned subsidiary, with Merger Sub as the surviving entity in the Merger, pursuant to the Agreement and Plan of Merger, dated as of September 14, 2018, or the Merger Agreement, by and among us, Merger Sub and SIR, was consummated and became effective at 4:01 p.m., Eastern time, on Monday, December 31, 2018. At the effective time of the Merger, the separate existence of SIR ceased.
Pursuant to the terms set forth in the Merger Agreement, at the effective time of the Merger, we issued to SIRs shareholders 1.04 of our common shares of beneficial interest, $.01 par value per share, for each common share of beneficial interest, $.01 par value per share, of SIR issued and outstanding immediately prior to the effective time of the Merger (other than SIR common shares held by us or any of our or SIRs wholly owned subsidiaries), with cash paid in lieu of fractional shares. Pursuant to the Merger Agreement, at the effective time of the Merger, any outstanding unvested SIR common share awards under SIRs equity compensation plan were converted into awards under our equity compensation plan, subject to substantially similar vesting requirements and other terms and conditions, of a number of our common shares determined by multiplying the number of unvested SIR common shares subject to such award by 1.04 (rounded down to the nearest whole number).
Effective at 4:30 p.m. on December 31, 2018, and following the effective time of the Merger, Merger Sub merged with and into us, with us as the surviving entity, and effective at 5:00 p.m. that day, we changed our name to Office Properties Income Trust and effected a reverse share split of our common shares of beneficial interest (as described further in Item 5.03 below), or the Reverse Share Split. The combined company continues to be managed by The RMR Group LLC, or RMR LLC, our manager and SIRs manager (until it ceased to exist).
The foregoing description of the Merger Agreement is not complete and is subject to and qualified in its entirety by reference to the copy of the Merger Agreement that was previously filed as Exhibit 2.1 to our Current Report on Form 8-K filed with the Securities and Exchange Commission, or SEC, on September 17, 2018, which is incorporated herein by reference.
Information Regarding Certain Relationships and Related Person Transactions
We have relationships and historical and continuing transactions with SIR (until it ceased to exist), RMR LLC, The RMR Group Inc. and others related to them. For information about these and other such relationships, see our definitive joint proxy statement/prospectus filed on November 16, 2018, as supplemented from time to time, or the Joint Proxy Statement/Prospectus, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, or our Quarterly Report, our Annual Report on Form 10-K for the year ended December 31, 2017, or our Annual Report, our definitive Proxy Statement for our 2018 Annual Meeting of Shareholders, or our Proxy Statement, and our other filings with the SEC, including the sections captioned SummaryInterests of GOV and SIR Trustees, Executive Officers and Manager in the Merger and the Other Transactions and The MergerInterests of GOV and SIR Trustees, Executive Officers and Manager in the Merger and the Other Transactions of the Joint Proxy Statement/Prospectus, Notes 10, 11 and 12 to our condensed consolidated financial statements included in our Quarterly Report and the sections captioned Managements Discussion and Analysis of Financial Condition and Results of OperationsRelated Person Transactions and Warning Concerning Forward Looking Statements of our Quarterly Report, Notes 6 and 7 to our consolidated financial statements included in our Annual Report and the sections captioned Business, Managements Discussion and
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