CBRE Group, Inc. Files 8-K on Director and Officer Changes
Ticker: CBRE · Form: 8-K · Filed: Jan 3, 2025 · CIK: 1138118
| Field | Detail |
|---|---|
| Company | Cbre Group, INC. (CBRE) |
| Form Type | 8-K |
| Filed Date | Jan 3, 2025 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, director-changes
TL;DR
CBRE filed an 8-K for director/officer changes and comp. Nothing specific yet.
AI Summary
On January 2, 2025, CBRE Group, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes information regarding the departure and election of directors, as well as the appointment of certain officers and their associated compensatory arrangements. Specific details on the individuals involved and the exact nature of the compensation changes are not provided in this excerpt.
Why It Matters
This filing signals potential shifts in corporate governance and executive compensation at CBRE Group, Inc., which could impact investor confidence and future strategic decisions.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of corporate governance changes and does not indicate immediate financial distress or significant operational shifts.
Key Players & Entities
- CBRE GROUP, INC. (company) — Registrant
- 0000950170-25-001326 (filing_id) — Accession Number
- January 2, 2025 (date) — Date of earliest event reported
- 2121 North Pearl Street Suite 300 Dallas , Texas 75201 (address) — Principal Executive Offices
FAQ
What specific changes were made to the board of directors?
The filing indicates the departure and election of directors, but the specific names and details of these changes are not provided in this excerpt.
Who are the newly appointed officers and what are their roles?
The filing mentions the appointment of certain officers and their compensatory arrangements, but their identities and specific roles are not detailed in this excerpt.
What are the details of the compensatory arrangements for the newly appointed officers?
The filing states that compensatory arrangements are being disclosed, but the specific terms and amounts are not included in this excerpt.
What is the significance of the date January 2, 2025, in this filing?
January 2, 2025, is the date of the earliest event reported in this 8-K filing, pertaining to the changes in directors and officers.
What is the primary purpose of this 8-K filing for CBRE Group, Inc.?
The primary purpose is to report on the departure of directors, election of directors, appointment of certain officers, and related compensatory arrangements, as well as Regulation FD disclosures and financial statements/exhibits.
Filing Stats: 971 words · 4 min read · ~3 pages · Grade level 11 · Accepted 2025-01-03 17:00:08
Key Financial Figures
- $0.01 — hich registered Class A Common Stock, $0.01 par value per share " CBRE " New Yo
Filing Documents
- cbre-20250102.htm (8-K) — 55KB
- cbre-ex99_1.htm (EX-99.1) — 26KB
- img12390227_0.jpg (GRAPHIC) — 36KB
- 0000950170-25-001326.txt ( ) — 260KB
- cbre-20250102.xsd (EX-101.SCH) — 31KB
- cbre-20250102_htm.xml (XML) — 5KB
From the Filing
8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 2, 2025 CBRE GROUP, INC. (Exact name of Registrant as Specified in Its Charter) Delaware 001-32205 94-3391143 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 2121 North Pearl Street Suite 300 Dallas , Texas 75201 (Address of Principal Executive Offices) (Zip Code) (214) 979-6100 (Registrant's Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.01 par value per share " CBRE " New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. This Current Report on Form 8-K is filed by CBRE Group, Inc., a Delaware corporation (the "Company"), in connection with the matters described herein. Item5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 2, 2025, the Board of Directors of the Company (the "Board") appointed Vincent Clancy to the Board, to serve until the Company's 2025 annual meeting of stockholders. Mr. Clancy is the Chief Executive Officer and Chair of the Board of Directors of Turner & Townsend Limited ("Turner & Townsend"). Turner & Townsend provides program management, cost consultancy, and project management services globally, and has been a majority-owned subsidiary of the Company since 2021. Mr. Clancy has served as Turner & Townsend's Chief Executive Officer since 2008 and as Chair of its Board of Directors since 2015. In that capacity, in 2024, Mr. Clancy received total remuneration from Turner & Townsend of approximately 667,000, consisting of salary of 591,750, a 12,500 car allowance, and 62,750 in pension contributions. Mr. Clancy is expected to receive similar remuneration from Turner & Townsend in 2025, subject to inflation adjustments. In addition, Mr. Clancy is eligible to participate in the life insurance, private medical, and permanent health insurance schemes offered by Turner & Townsend to United Kingdom-based employees. In 2024, Mr. Clancy's benefit related to these schemes was valued at approximately 6,000. In connection with his employment, Mr. Clancy and Turner & Townsend entered into an Executive Directors Service Agreement , dated as of April 4, 2008, governing the terms of Mr. Clancy's employment, including his duties and compensation, and a Variation of Employment Agreement, dated as of July 21, 2021, pursuant to which Mr. Clancy agreed to certain post-termination confidentiality, non-competition, and non-solicitation covenants. In addition, in connection with the Company's acquisition of an interest in Turner & Townsend, Mr. Clancy and CBRE Titan Acquisition Co. Limited, a wholly owned subsidiary of the Company, entered into a Restrictive Covenant Undertaking, dated as of July 26, 2021, pursuant to which Mr. Clancy agreed to certain non-competition and non-solicitation covenants for a period of 60 months from the closing of that acquisition. Mr. Clancy will not be eligible to participate the Company's compensation package for non-employee directors and is not expected to receive any additional compensation for acting as a director of the Company. He is expected to enter into the Company's standard form of Indemnification Agreement for members of the Board. There is no arrangement or understanding between Mr. Clancy and any other person pursuant to which the Board selected Mr. Clancy as a director. Item7.01 Regulation FD Disclosure. On January 3, 2025, the Com