Apple Hospitality REIT Files 8-K on Director/Officer Changes
Ticker: APLE · Form: 8-K · Filed: May 28, 2024 · CIK: 1418121
| Field | Detail |
|---|---|
| Company | Apple Hospitality Reit, Inc. (APLE) |
| Form Type | 8-K |
| Filed Date | May 28, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $335.4 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-changes
TL;DR
Apple Hospitality REIT updated its board and execs on 5/23. Check the 8-K for details.
AI Summary
Apple Hospitality REIT, Inc. filed an 8-K on May 28, 2024, reporting on events that occurred on May 23, 2024. The filing covers the departure and election of directors, appointment of officers, compensatory arrangements, and matters submitted to a vote of security holders. It also includes other events and financial statements/exhibits.
Why It Matters
This filing provides transparency into the governance and executive structure of Apple Hospitality REIT, which can impact investor confidence and strategic direction.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of corporate governance events and does not indicate immediate financial distress or significant operational changes.
Key Players & Entities
- Apple Hospitality REIT, Inc. (company) — Registrant
- May 23, 2024 (date) — Date of earliest event reported
- May 28, 2024 (date) — Date of Report
FAQ
What specific changes were made to the board of directors and officer appointments?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' and 'Compensatory Arrangements of Certain Officers', but the specific details of these changes are not provided in the provided text excerpt.
Were there any matters submitted to a vote of security holders?
Yes, the filing explicitly states 'Submission of Matters to a Vote of Security Holders' as an item covered.
What is the principal executive office address for Apple Hospitality REIT, Inc.?
The principal executive offices are located at 814 East Main Street, Richmond, Virginia 23219.
When was Apple Hospitality REIT, Inc. incorporated?
The company was incorporated in Virginia.
What is the IRS Employer Identification Number for Apple Hospitality REIT, Inc.?
The IRS Employer Identification Number is 26-1379210.
Filing Stats: 1,010 words · 4 min read · ~3 pages · Grade level 9.7 · Accepted 2024-05-28 16:15:14
Key Financial Figures
- $335.4 million — program permits the repurchase of up to $335.4 million of the Company's common shares. Repurch
Filing Documents
- aple-20240523.htm (8-K) — 89KB
- aple-ex10_1.htm (EX-10.1) — 428KB
- aple-ex10_2.htm (EX-10.2) — 46KB
- 0000950170-24-065218.txt ( ) — 731KB
- aple-20240523.xsd (EX-101.SCH) — 23KB
- aple-20240523_htm.xml (XML) — 4KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. On May 23, 2024, the Company held its Annual Meeting. At the Annual Meeting, shareholders considered: 1. The election of nine (9) directors to the Board of Directors (the "Board"); 2. The ratification of the appointment of KPMG LLP as the Company's independent registered public accounting firm to serve for 2024 ; 3. An advisory vote regarding the approval of compensation paid to the Company's named executive officers; and 4. Approval of the Plan. The Company's shareholders voted as follows on these matters: 1. The Company's shareholders elected the nine director nominees named in the proxy statement with the following votes: NOMINEE FOR WITHHELD BROKER NON-VOTES Glenn W. Bunting 203,165,339 2,930,555 14,340,106 Jon A. Fosheim 203,078,676 3,017,218 14,340,106 Kristian M. Gathright 194,159,028 11,936,866 14,340,106 Carolyn B. Handlon 203,548,999 2,546,895 14,340,106 Glade M. Knight 191,868,118 14,227,776 14,340,106 Justin G. Knight 204,664,925 1,430,969 14,340,106 Blythe J. McGarvie 202,281,920 3,813,974 14,340,106 L. Hugh Redd 205,051,486 1,044,408 14,340,106 Howard E. Woolley 203,485,775 2,610,119 14,340,106 The nine duly elected directors, constituting all of the Board's directors, will serve a one-year term expiring at the 2025 Annual Meeting of Shareholders. 2. The Company's shareholders ratified the appointment of KPMG LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. This proposal received the following votes: FOR AGAINST ABSTAIN BROKER NON-VOTES 218,257,841 1,670,092 508,067 - 3. The Company's shareholders voted on the advisory resolution to approve the compensation paid to the Company's named executive officers with the following votes: FOR AGAINST ABSTAIN BROKER NON-VOTES 199,513,123 5,849,315 733,456
01 Other Events
Item 8.01 Other Events. On May 23, 2024, the Board approved an extension until July 2025 of the Company's existing share repurchase program. The extended share repurchase program permits the repurchase of up to $335.4 million of the Company's common shares. Repurchases may be made in the open market, through 10b5-1 programs or in privately negotiated transactions. The timing of share repurchases and the number of common shares to be repurchased will depend upon prevailing market conditions and other factors. There can be no assurances that the Company will make additional purchases under the share repurchase program.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description of Documents 10.1 Apple Hospitality REIT, Inc. 2024 Omnibus Incentive Plan 10.2 Form of Restricted Stock Agreement 104 Cover Page Interactive Data File (formatted as Inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Apple Hospitality REIT, Inc. By: /s/ Justin G. Knight Justin G. Knight Chief Executive Officer May 28, 2024