Inland Real Estate Income Trust Reports Material Agreement, Officer Comp Changes

TL;DR

**Inland Real Estate Income Trust just reported a new material agreement and changes to executive pay.**

AI Summary

Inland Real Estate Income Trust, Inc. filed an 8-K on January 19, 2024, reporting events from January 13, 2024, concerning a material definitive agreement and changes in director/officer compensatory arrangements. This filing indicates potential shifts in the company's financial commitments or leadership incentives. For investors, this matters because changes in material agreements or executive compensation can impact the company's financial health, operational strategy, and ultimately, stock performance.

Why It Matters

This filing signals potential strategic or financial shifts within Inland Real Estate Income Trust, Inc., which could affect its future profitability and investor returns.

Risk Assessment

Risk Level: medium — The filing indicates material changes without specific details, creating uncertainty about their potential positive or negative impact on the company.

Analyst Insight

A smart investor would monitor subsequent filings for specific details regarding the material definitive agreement and the compensatory arrangements, as these could significantly impact the company's financial outlook and governance.

Key Players & Entities

• Inland Real Estate Income Trust, Inc. (company) — the registrant filing the 8-K
• January 13, 2024 (date) — date of the earliest event reported
• January 19, 2024 (date) — date the 8-K was filed
• 000-55146 (other) — Commission File Number
• 45-3079597 (other) — IRS Employer Identification No.

FAQ

Key Financial Figures

• $350,000 — e pro rata on a monthly basis) equal to $350,000 per year. In connection with entering i

Filing Documents

• ireit-20240113.htm (8-K) — 47KB
• ireit-ex10_1.htm (EX-10.1) — 210KB
• ireit-ex10_2.htm (EX-10.2) — 64KB
• 0000950170-24-005682.txt ( ) — 481KB
• ireit-20240113.xsd (EX-101.SCH) — 25KB
• ireit-20240113_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 19, 2024, Inland Real Estate Income Trust, Inc. (the “Company”) entered into the Fourth Amended and Restated Business Management Agreement (the “Business Management Agreement”) with IREIT Business Manager & Advisor, Inc. (the “Business Manager”), an affiliate of Inland Real Estate Investment Corporation, the Company’s sponsor to, among other things, add a provision that allows the Company’s board of directors (the “Board”) to hire or engage a person unaffiliated with the Business Manager to serve as the Company’s president and chief executive officer at a cost to be borne by the Business Manager. The foregoing is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the Business Management Agreement filed as Exhibit 10.1, and is incorporated herein by reference. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 13, 2024, Mitchell A. Sabshon, the President and Chief Executive Officer of the Company notified the Company that, because of his decision to retire from his position with Inland Investments, an affiliate of the Company’s Business Manager, he was also resigning his position as a director of the Company and as the Company’s President and Chief Executive Officer, effective at the close of business on January 31, 2024. His resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Additionally, on January 17, 2024, Mr. Sabshon notified the Business Manager that he was resigning from his position as a director of the Business Manager and as president of the Business Manager, effective at the close of business on January 17, 2024. On Jan

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 10.1 Fourth Amended and Restated Business Management Agreement, dated January 19, 2024, by and between Inland Real Estate Income Trust, Inc. and IREIT Business Manager & Advisor, Inc. 10.2 Agreement, dated as of January 19, 2024, by and between Inland Real Estate Income Trust, Inc. and Mark E. Zalatoris

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains “forward-looking statements,” which are not historical facts, within the meaning of the Private Securities Litigation Reform Act of 1995. The statements may be identified by terminology such as “may,” “can,” “would,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “seek,” “appear,” or “believe.” Such statements reflect the current view of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions related to certain factors including, without limitation, the uncertainties related to general economic conditions, unforeseen events affecting the real estate industry or particular markets, and other factors detailed under Risk Factors in our most recent Form 10-K as of December 31, 2022 filed on March 16, 2023 and subsequent Form 10-Qs and Form 8-Ks on file with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. You should exercise caution when considering forward-looking statements and not place undue reliance on them. Based upon changing conditions, should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Except as required by federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason after the date of this Current Report on Form 8-K.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INLAND REAL ESTATE INCOME TRUST, INC. Date: January 19, 2024 By: /s/ Cathleen M. Hrtanek Cathleen M. Hrtanek, Secretary

View Full Filing

View this 8-K filing on SEC EDGAR