American Realty Investors Inc. Reports Board and Officer Changes
Ticker: ARL · Form: 8-K · Filed: Jul 9, 2024 · CIK: 1102238
| Field | Detail |
|---|---|
| Company | American Realty Investors INC (ARL) |
| Form Type | 8-K |
| Filed Date | Jul 9, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, governance, officer-appointment
TL;DR
ARI board shakeup! New directors and officers appointed, compensation details filed.
AI Summary
On July 5, 2024, AMERICAN REALTY INVESTORS, INC. filed an 8-K report detailing changes in its board of directors and executive officers. The filing includes information on the election of new directors and the appointment of certain officers, along with details regarding compensatory arrangements for these individuals. The company is incorporated in Nevada and its principal executive offices are located in Dallas, Texas.
Why It Matters
Changes in a company's board of directors and executive officers can signal shifts in strategy, governance, or operational focus, potentially impacting future performance and shareholder value.
Risk Assessment
Risk Level: medium — Changes in leadership and executive compensation can introduce uncertainty regarding future strategy and financial performance.
Key Numbers
- July 5, 2024 — Report Date (Date of earliest event reported)
Key Players & Entities
- AMERICAN REALTY INVESTORS, INC. (company) — Registrant
- Nevada (jurisdiction) — State of incorporation
- Dallas, Texas (location) — Principal executive offices
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of directors, but specific names and the exact number of changes are not detailed in the provided excerpt.
Were any new officers appointed?
Yes, the filing mentions the appointment of certain officers.
What is the primary business of AMERICAN REALTY INVESTORS, INC.?
The company is classified under 'REAL ESTATE OPERATORS (NO DEVELOPERS) & LESSORS'.
When is the company's fiscal year end?
The company's fiscal year ends on December 31.
What is the company's SEC file number?
The SEC file number for AMERICAN REALTY INVESTORS, INC. is 001-15663.
Filing Stats: 636 words · 3 min read · ~2 pages · Grade level 10.4 · Accepted 2024-07-09 11:07:23
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 ARL New York Stock Exchange Indic
Filing Documents
- z782438k.htm (8-K) — 31KB
- ex99_6.htm (EX-99.6) — 4KB
- 0001214659-24-012109.txt ( ) — 206KB
- arl-20240705.xsd (EX-101.SCH) — 3KB
- arl-20240705_lab.xml (EX-101.LAB) — 33KB
- arl-20240705_pre.xml (EX-101.PRE) — 22KB
- z782438k_htm.xml (XML) — 4KB
02. Departure of Directors or Certain
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (a) By letter dated July 5, 2024, Bradford A. Phillips resigned as a Member of the Board of Directors of American Realty Investors, Inc. (the " Company " or the " Issuer " or the " Registrant "). Mr. Phillips, age 59, had been a Director of the Company since March 11, 2021 when he was elected to fill a vacancy on the Board of Directors. Mr. Phillips was not a member of any committee of the Board of Directors. At the time of his resignation as a Director of the Company, Mr. Phillips stated he had no disagreement with the Company on any matter relating to the Registrant's operations, practices, policies or procedures. A copy of Mr. Phillips letter of resignation is attached as an exhibit to this report on Form 8-K. After giving effect to the resignation of Mr. Phillips, the Board of Directors of the Company continues to have a majority of independent directors who also constitute the Audit Committee, the Compensation Committee and the Governance and Nominating Committee of the Board of Directors. Mr. Phillips also resigned on the same date as a Director of Transcontinental Realty Investors, Inc., a Nevada corporation (" TCI "), which has its Common Stock listed and traded on the New York Stock Exchange. Section 9 – Financial Statements and Exhibits
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (b) Exhibits The following exhibit is furnished with this Report: Exhibit Designation Description of Exhibit 99.6* Resignation letter dated July 5, 2024 of Bradford A. Phillips *Furnished herewith
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: July 8, 2024 AMERICAN REALTY INVESTORS, INC. By: /s/ Erik L. Johnson Erik L. Johnson, President and Chief Executive Officer