CenterSpace Files Definitive Proxy Statement
Ticker: CSR · Form: DEF 14A · Filed: Apr 9, 2024 · CIK: 798359
| Field | Detail |
|---|---|
| Company | Centerspace (CSR) |
| Form Type | DEF 14A |
| Filed Date | Apr 9, 2024 |
| Risk Level | |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: Proxy Statement, Executive Compensation, Equity Awards, CenterSpace, DEF 14A
TL;DR
<b>CenterSpace has filed its Definitive Proxy Statement for the 2023 fiscal year, detailing executive compensation and equity adjustments.</b>
AI Summary
CENTERSPACE (CSR) filed a Proxy Statement (DEF 14A) with the SEC on April 9, 2024. CenterSpace filed its Definitive Proxy Statement on April 9, 2024. The filing covers the period from January 1, 2023, to December 31, 2023. Key executive compensation data for Anne Olson and Mark Decker is included. Details on stock awards, option awards, and equity fair value adjustments are presented. The filing also references data from 2022, 2021, and 2020 for comparative purposes.
Why It Matters
For investors and stakeholders tracking CENTERSPACE, this filing contains several important signals. This filing provides shareholders with crucial information regarding the compensation of top executives, enabling informed voting decisions on executive pay. The detailed breakdown of equity awards and adjustments offers insight into the company's incentive structures and potential future dilution.
Risk Assessment
Risk Level: — CENTERSPACE shows moderate risk based on this filing. The filing is a routine DEF 14A, indicating standard disclosure practices rather than immediate material events.
Analyst Insight
Review the executive compensation details and equity award adjustments to understand potential impacts on shareholder value and dilution.
Executive Compensation
| Name | Title | Total Compensation |
|---|---|---|
| Anne Olson | Member | |
| Mark Decker | Member |
Key Numbers
- 2023-12-31 — Fiscal Year End (Reporting period)
- 2024-04-09 — Filing Date (Date of submission)
Key Players & Entities
- CenterSpace (company) — Filer of the document
- Anne Olson (person) — Executive compensation details
- Mark Decker (person) — Executive compensation details
FAQ
When did CENTERSPACE file this DEF 14A?
CENTERSPACE filed this Proxy Statement (DEF 14A) with the SEC on April 9, 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 CENTERSPACE (CSR).
Where can I read the original DEF 14A filing from CENTERSPACE?
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 CENTERSPACE.
What are the key takeaways from CENTERSPACE's DEF 14A?
CENTERSPACE filed this DEF 14A on April 9, 2024. Key takeaways: CenterSpace filed its Definitive Proxy Statement on April 9, 2024.. The filing covers the period from January 1, 2023, to December 31, 2023.. Key executive compensation data for Anne Olson and Mark Decker is included..
Is CENTERSPACE a risky investment based on this filing?
Based on this DEF 14A, CENTERSPACE presents a moderate-risk profile. The filing is a routine DEF 14A, indicating standard disclosure practices rather than immediate material events.
What should investors do after reading CENTERSPACE's DEF 14A?
Review the executive compensation details and equity award adjustments to understand potential impacts on shareholder value and dilution. The overall sentiment from this filing is neutral.
How does CENTERSPACE compare to its industry peers?
CenterSpace operates as a Real Estate Investment Trust (REIT), typically involved in owning and managing income-producing real estate.
Are there regulatory concerns for CENTERSPACE?
As a publicly traded company, CenterSpace is subject to SEC regulations, including the requirement to file proxy statements for shareholder meetings.
Industry Context
CenterSpace operates as a Real Estate Investment Trust (REIT), typically involved in owning and managing income-producing real estate.
Regulatory Implications
As a publicly traded company, CenterSpace is subject to SEC regulations, including the requirement to file proxy statements for shareholder meetings.
What Investors Should Do
- Analyze the executive compensation packages for Anne Olson and Mark Decker.
- Review the details of stock and option awards, including any adjustments made.
- Understand the company's governance practices as outlined in the proxy statement.
Key Dates
- 2024-04-09: Filing of DEF 14A — Provides detailed information on executive compensation and corporate governance for the fiscal year 2023.
Year-Over-Year Comparison
This filing is a routine DEF 14A and does not appear to represent a significant change from previous filings in terms of format or core disclosures, though specific compensation figures and equity adjustments will vary annually.
Filing Stats: 4,735 words · 19 min read · ~16 pages · Grade level 13.4 · Accepted 2024-04-09 16:29:14
Filing Documents
- csr-20240408.htm (DEF 14A) — 1039KB
- csr-20240408_g1.jpg (GRAPHIC) — 116KB
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- csr-20240408_g2.jpg (GRAPHIC) — 16KB
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- csr-20240408_g22.jpg (GRAPHIC) — 110KB
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- csr-20240408_g9.jpg (GRAPHIC) — 34KB
- 0000798359-24-000032.txt ( ) — 4776KB
- csr-20240408.xsd (EX-101.SCH) — 4KB
- csr-20240408_def.xml (EX-101.DEF) — 5KB
- csr-20240408_lab.xml (EX-101.LAB) — 7KB
- csr-20240408_pre.xml (EX-101.PRE) — 4KB
- csr-20240408_htm.xml (XML) — 122KB
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 23 INFORMATION ABOUT OUR EXECUTIVE OFFICERS 25 PROPOSAL 2: ADVISORY VOTE ON EXECUTIVE COMPENSATION 26 COMPENSATION DISCUSSION AND ANALYSIS 27 NAMED EXECUTIVE OFFICERS 27 EXECUTIVE SUMMARY AND ACHIEVEMENTS FOR 2023 27
EXECUTIVE COMPENSATION PHILOSOPHY
EXECUTIVE COMPENSATION PHILOSOPHY 29 ROLE OF THE COMPENSATION COMMITTEE AND COMPENSATION CONSULTANT IN SETTING EXECUTIVE COMPENSATION 29 ROLE OF MANAGEMENT AND COMPENSATION CONSULTANT IN EXECUTIVE COMPENSATION DECISIONS 30
EXECUTIVE COMPENSATION PEER GROUP
EXECUTIVE COMPENSATION PEER GROUP 30 DETERMINATION OF COMPENSATION FOR NAMED EXECUTIVE OFFICERS 31 COMPONENTS OF THE EXECUTIVE COMPENSATION PROGRAM 31 SAY-ON-PAY RESULTS AND CONSIDERATION 36 EMPLOYMENT AGREEMENTS 37 COMPANY POLICIES 37 COMPENSATION COMMITTEE REPORT 39
EXECUTIVE COMPENSATION
EXECUTIVE COMPENSATION 40 GRANTS OF PLAN-BASED AWARDS 42 OUTSTANDING EQUITY AWARDS AT DECEMBER 31, 2023 43 OPTIONS EXERCISES AND SHARES VESTED 44 EQUITY COMPENSATION PLAN INFORMATION 44 POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL 45 CEO PAY RATIO 48 COMPENSATION POLICIES AND RISK MANAGEMENT 48 401(K) PLAN 49 -i- TABLE OF CONTENTS (continued) Page PAY VERSUS PERFORMANCE 50 PROPOSAL 3: RATIFICATION OF SELECTION OF INDEPENDENT AUDITOR 53 ACCOUNTING AND AUDIT COMMITTEE MATTERS 54 REPORT OF THE AUDIT COMMITTEE 55 SHAREHOLDER PROPOSALS AND TRUSTEE NOMINATIONS 56 HOUSEHOLDING OF PROXY MATERIALS 56 COMMUNICATING WITH CENTERSPACE 57 OTHER MATTERS 57 APPENDIX A NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS A- 1 ii Table of Contents CENTERSPACE 3100 10 th St SW P.O. Box 1988 Minot, ND 58702-1988 Telephone: (701) 837-4738 Fax: (701) 838-7785 _____________________________________ PROXY STATEMENT Q&A FOR 2024 ANNUAL MEETING OF SHAREHOLDERS The Board of Trustees ("Board") of Centerspace, a North Dakota real estate investment trust ("we," "us," "our," "Centerspace," or the "Company"), is soliciting proxies to be used at the Annual Meeting of Shareholders of the Company to be held virtually on Monday, May 20, 2024 at 12:00 p.m. Central Daylight Time, and any postponement(s) or adjournment(s) thereof (the "Annual Meeting"). This proxy statement and the accompanying Notice and Form of Proxy are first being mailed or made available on the Internet to shareholders on or about April 9, 2024. IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON MAY 20, 2024 Our Notice of Annual Meeting of Shareholders, the Proxy Statement, and our 2023 Annual Report are available on the following website: www.proxyvote.com. In accordance with Securities and Exchange Commission ("SEC") rules, we have elected to mail our proxy materials to the record hol