Essex Property Trust Names New EVP & CIO, Elects Directors

TL;DR

Essex Property Trust (ESS) shakes up leadership with a new EVP/CIO and two board members.

AI Summary

Essex Property Trust, Inc. announced on September 4, 2024, changes in its officer and director roles. Specifically, Michael J. Gallagher has been appointed as the new Executive Vice President and Chief Investment Officer, effective September 3, 2024. Additionally, the company elected two new directors, Michael J. Gallagher and Michael T. Williams, to its Board of Directors.

Why It Matters

Changes in key executive and board positions can signal shifts in company strategy, investment focus, or governance, potentially impacting future performance and shareholder value.

Risk Assessment

Risk Level: medium — Changes in executive and board leadership can introduce uncertainty regarding future strategy and execution, though the filing does not indicate any immediate financial distress.

Key Players & Entities

• Essex Property Trust, Inc. (company) — Filer
• Michael J. Gallagher (person) — Appointed Executive Vice President and Chief Investment Officer, and elected to the Board of Directors
• Michael T. Williams (person) — Elected to the Board of Directors
• September 4, 2024 (date) — Filing date and effective date of changes
• September 3, 2024 (date) — Effective date of Michael J. Gallagher's appointment

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value (Essex Property Trust, Inc.)

Filing Documents

• ef20035258_8k.htm (8-K) — 38KB
• 0001140361-24-040094.txt ( ) — 208KB
• ess-20240904.xsd (EX-101.SCH) — 4KB
• ess-20240904_def.xml (EX-101.DEF) — 17KB
• ess-20240904_lab.xml (EX-101.LAB) — 25KB
• ess-20240904_pre.xml (EX-101.PRE) — 19KB
• ef20035258_8k_htm.xml (XML) — 6KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Officer Transition and Appointment On September 4, 2024 (the "Transition Date"), Essex Property Trust, Inc. (the "Company") announced the following officer determinations effective as of the Transition Date. The Company has promoted Brennan McGreevy from Group Vice President, Controller, to Group Vice President and Chief Accounting Officer, and he will also serve as principal accounting officer, as part of the planned transition of the Chief Accounting Officer role. Commencing on the Transition Date, John Farias, previously Senior Vice President and Chief Accounting Officer, will transition from his current role into a new role with the Company in Operations Management. In his new role, Mr. McGreevy, age 40, will be responsible for overseeing the accounting function of the Company and the preparation of the consolidated financial statements in accordance with U.S. generally accepted accounting principles and Securities and Exchange Commission requirements. Prior to joining the Company in May 2020, Mr. McGreevy worked as a senior manager in Audit Services at KPMG LLP for over 13 years. Mr. McGreevy earned his Bachelor of Business Administration in accounting from Loyola Marymount University and is a Certified Public Accountant in California. On February 7, 2024, the Company entered into an indemnification agreement with Mr. McGreevy substantially in the form filed as Exhibit 10.4 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018 (the "Form Indemnification Agreement"), which is incorporated herein by reference. A description of the material terms of the indemnification agreement can be found under Item 15 "Indemnification of Directors and Officers" in the Company's Registration Statement on Form S-3 filed August 5, 2024, which description is incorporated herein by reference. Th

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. Date: September 4, 2024 Essex Property Trust, Inc. /s/ Anne Morrison Name: Anne Morrison Title: Chief Administrative Officer, Executive Vice President, General Counsel and Secretary Essex Portfolio, L.P. By: Essex Property Trust, Inc., its General Partner /s/ Anne Morrison Name: Anne Morrison Title: Chief Administrative Officer, Executive Vice President, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR