BRT Apartments Corp. Announces 2024 Annual Meeting of Stockholders
Ticker: BRT · Form: DEF 14A · Filed: Apr 22, 2024 · CIK: 14846
| Field | Detail |
|---|---|
| Company | Brt Apartments CORP. (BRT) |
| Form Type | DEF 14A |
| Filed Date | Apr 22, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $7,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: Proxy Statement, Annual Meeting, Director Election, Auditor Ratification, Incentive Plan
TL;DR
<b>BRT Apartments Corp. will hold its annual stockholder meeting on June 11, 2024, to elect directors, ratify auditors, and approve an incentive plan.</b>
AI Summary
BRT Apartments Corp. (BRT) filed a Proxy Statement (DEF 14A) with the SEC on April 22, 2024. The annual meeting of stockholders for BRT Apartments Corp. is scheduled for June 11, 2024, at 9:00 a.m. local time. Key agenda items include the election of three Class I Directors, ratification of Ernst & Young LLP as independent auditors for FY2024, and approval of the 2024 Incentive Plan. Stockholders of record as of March 15, 2024, are eligible to vote. The Board of Directors recommends voting 'FOR' all proposed items. The meeting will be held at the company's offices located at 60 Cutter Mill Road, Great Neck, NY.
Why It Matters
For investors and stakeholders tracking BRT Apartments Corp., this filing contains several important signals. The election of directors and approval of the incentive plan are critical for the company's governance and future executive compensation strategies. Ratifying Ernst & Young LLP ensures continued independent oversight of the company's financial reporting for the upcoming fiscal year.
Risk Assessment
Risk Level: low — BRT Apartments Corp. shows low risk based on this filing. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or significant strategic changes, indicating a low level of immediate risk.
Analyst Insight
Stockholders should review the director nominees and the proposed incentive plan details before the June 11, 2024 meeting.
Key Numbers
- 3 — Class I Directors (Number of directors to be elected)
- 2024 — Fiscal Year (Year for which Ernst & Young LLP is proposed to be ratified as auditor)
- 2024 — Incentive Plan (Year of the proposed Incentive Plan)
Key Players & Entities
- BRT Apartments Corp. (company) — Registrant and filer of the proxy statement
- June 11, 2024 (date) — Date of the annual meeting of stockholders
- Ernst & Young LLP (company) — Proposed independent registered public accounting firm
- March 15, 2024 (date) — Record date for determining stockholders eligible to vote
- 60 Cutter Mill Road, Great Neck, NY (location) — Location of the annual meeting
FAQ
When did BRT Apartments Corp. file this DEF 14A?
BRT Apartments Corp. filed this Proxy Statement (DEF 14A) with the SEC on April 22, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by BRT Apartments Corp. (BRT).
Where can I read the original DEF 14A filing from BRT Apartments Corp.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by BRT Apartments Corp..
What are the key takeaways from BRT Apartments Corp.'s DEF 14A?
BRT Apartments Corp. filed this DEF 14A on April 22, 2024. Key takeaways: The annual meeting of stockholders for BRT Apartments Corp. is scheduled for June 11, 2024, at 9:00 a.m. local time.. Key agenda items include the election of three Class I Directors, ratification of Ernst & Young LLP as independent auditors for FY2024, and approval of the 2024 Incentive Plan.. Stockholders of record as of March 15, 2024, are eligible to vote..
Is BRT Apartments Corp. a risky investment based on this filing?
Based on this DEF 14A, BRT Apartments Corp. presents a relatively low-risk profile. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or significant strategic changes, indicating a low level of immediate risk.
What should investors do after reading BRT Apartments Corp.'s DEF 14A?
Stockholders should review the director nominees and the proposed incentive plan details before the June 11, 2024 meeting. The overall sentiment from this filing is neutral.
How does BRT Apartments Corp. compare to its industry peers?
BRT Apartments Corp. operates as a Real Estate Investment Trust (REIT), focusing on apartment properties. This filing pertains to standard corporate governance procedures for such entities.
Are there regulatory concerns for BRT Apartments Corp.?
The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing the solicitation of proxies for shareholder meetings.
Risk Factors
- Proxy Statement Filing [low — regulatory]: The filing is a routine DEF 14A proxy statement, indicating compliance with SEC disclosure requirements for annual meetings.
Industry Context
BRT Apartments Corp. operates as a Real Estate Investment Trust (REIT), focusing on apartment properties. This filing pertains to standard corporate governance procedures for such entities.
Regulatory Implications
The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing the solicitation of proxies for shareholder meetings.
What Investors Should Do
- Review the biographies and qualifications of the nominated Class I Directors.
- Examine the details of the BRT Apartments Corp. 2024 Incentive Plan.
- Ensure timely voting by the March 15, 2024 record date to have voting rights for the June 11, 2024 meeting.
Key Dates
- 2024-06-11: Annual Meeting of Stockholders — Key date for voting on director elections, auditor ratification, and incentive plan approval.
- 2024-03-15: Record Date — Determines which stockholders are eligible to vote at the annual meeting.
Year-Over-Year Comparison
This filing is a DEF 14A proxy statement, which is a standard annual disclosure and does not represent a change from previous filings in terms of reporting format or frequency.
Filing Stats: 4,664 words · 19 min read · ~16 pages · Grade level 13.9 · Accepted 2024-04-22 08:31:00
Key Financial Figures
- $7,000 — . We have retained DF King for a fee of $7,000 and the reimbursement of certain expens
Filing Documents
- ny20024168x1_def14a.htm (DEF 14A) — 1023KB
- ny20024168x1_pc1.jpg (GRAPHIC) — 528KB
- ny20024168x1_pc2.jpg (GRAPHIC) — 742KB
- ny20024168x1_pc3.jpg (GRAPHIC) — 977KB
- ny20024168x1_pvp01x1.jpg (GRAPHIC) — 138KB
- ny20024168x1_pvp02x1.jpg (GRAPHIC) — 129KB
- sig_ashergaffney.jpg (GRAPHIC) — 27KB
- 0001140361-24-020910.txt ( ) — 4522KB
Executive Compensation Program
Executive Compensation Program ​ ​ 19 General ​ ​ 19 The Role of Say-on-Pay ​ ​ 19 Compensation Consultant ​ ​ 20 Objectives of our Executive Compensation Program ​ ​ 20 Compensation Setting Process ​ ​ 20 Components of Executive Compensation ​ ​ 21 Chairman of the Board’s Compensation ​ ​ 24 Policy Prohibiting Hedging of our Securities ​ ​ 25 Clawbacks ​ ​ 25 Stock Ownership Guidelines ​ ​ 25 Analysis ​ ​ 26 Summary Compensation Table ​ ​ 28 Grant of Plan-Based Awards ​ ​ 29 Outstanding Equity Awards at Fiscal Year-End ​ ​ 30 Option Exercises and Stock Vested ​ ​ 31 Potential Payments Upon Termination or Change-in-Control ​ ​ 31 Pay Ratio ​ ​ 33 Pay versus Performance ​ ​ 34 Certain Relationships and Related Transactions ​ ​ 37 Introduction ​ ​ 37 Related Party Transactions ​ ​ 37 Proposal 2-Independent Registered Public Accounting Firm ​ ​ 39 General ​ ​ 39 Audit and Other Fees ​ ​ 39 Pre-Approval Policy for Audit and Non-Audit Services ​ ​ 39 Report of the Audit Committee ​ ​ 40 BRT Apartments Corp. 2024 Incentive Plan (Proposal 3) ​ ​ 41 Delinquent Section 16(a) Reports ​ ​ 46 Additional Information and Notice of Internet Availability of Proxy Materials ​ ​ 46 Annex A – 2024 Incentive Plan ​ ​ A-1 TABLE OF CONTENTS BRT APARTMENTS CORP. PROXY STATEMENT GENERAL Our Board of Directors is furnishing you with this proxy statement to solicit proxies on its behalf to be voted at the 2023 annual meeting of stockholders of BR