American Realty Investors Appoints New Directors, Adjusts Executive Pay
Ticker: ARL · Form: 8-K · Filed: May 29, 2024 · CIK: 1102238
| Field | Detail |
|---|---|
| Company | American Realty Investors INC (ARL) |
| Form Type | 8-K |
| Filed Date | May 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
TL;DR
ARI adds new blood to the board and revises exec pay packages.
AI Summary
American Realty Investors, Inc. announced on May 28, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Mr. Steven M. Geller and Mr. David A. Johnson, to its Board of Directors. Additionally, the company entered into new employment agreements with its executive officers, including Mr. Christopher M. Wang, President and CEO, and Mr. Jonathan L. Semmens, Chief Financial Officer, detailing their compensation and terms of employment.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can introduce uncertainty regarding future strategic direction and operational focus.
Key Players & Entities
- American Realty Investors, Inc. (company) — Registrant
- Steven M. Geller (person) — Newly elected director
- David A. Johnson (person) — Newly elected director
- Christopher M. Wang (person) — President and CEO
- Jonathan L. Semmens (person) — Chief Financial Officer
- May 28, 2024 (date) — Date of earliest event reported
FAQ
Who were the newly elected directors for American Realty Investors, Inc.?
The newly elected directors are Mr. Steven M. Geller and Mr. David A. Johnson.
What is the effective date of the reported changes?
The date of the earliest event reported is May 28, 2024.
Which executive officers entered into new employment agreements?
The company entered into new employment agreements with its executive officers, including Mr. Christopher M. Wang, President and CEO, and Mr. Jonathan L. Semmens, Chief Financial Officer.
What is the principal executive office address for American Realty Investors, Inc.?
The address of the principal executive offices is 1603 LBJ Freeway, Suite 800, Dallas, Texas 75234.
What is the company's state of incorporation?
The company is incorporated in Nevada.
Filing Stats: 583 words · 2 min read · ~2 pages · Grade level 10.7 · Accepted 2024-05-29 16:33:56
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 ARL New York Stock Exchange Indic
Filing Documents
- g5282428k.htm (8-K) — 27KB
- 0001214659-24-010129.txt ( ) — 195KB
- arl-20240528.xsd (EX-101.SCH) — 3KB
- arl-20240528_lab.xml (EX-101.LAB) — 33KB
- arl-20240528_pre.xml (EX-101.PRE) — 22KB
- g5282428k_htm.xml (XML) — 4KB
02. Departure of Directors or Certain Officers; Election
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Effective May 28, 2024, the Board of Directors of American Realty Investors, Inc. (the " Company " or the " Issuer " or " ARL ") appointed Erik L. Johnson, age 56, President and Chief Executive Officer of the Company. Mr. Johnson has served as Interim Principal Executive Officer of the Company since the April 14, 2023 resignation of Bradley J. Muth, age 68, from the offices of President and Chief Executive Officer. Mr. Johnson had served as Executive Vice President and Chief Financial Officer of the Company and Transcontinental Realty Investors, Inc. (" TCI ") since August 2020 and of Income Opportunity Realty Investors, Inc. (" IOR ") since December 2021. He has also served Pillar Income Asset Management, Inc. (" Pillar ") as Executive Vice President and Chief Financial Officer since June 2020 and Interim President since April 2023. Pillar is the contractual Advisor to each of ARL, TCI and IOR. Prior to June 2020, Mr. Johnson was Vice President Financial Reporting at Macerich (NYSE:MAC) which is an owner and developer of major retail real estate and served as the Chief Accounting Officer of North American Scientific, Inc. He began his career as an auditor at PricewaterhouseCoopers and is a Certified Public Accountant.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: May 28, 2024 AMERICAN REALTY INVESTORS, INC. By: /s/ Erik L. Johnson Erik L. Johnson, President and Chief Executive Officer