KBS REIT III Reports Shareholder Vote Matters

TL;DR

KBS REIT III is holding a shareholder vote on July 23rd - big decisions ahead!

AI Summary

On July 23, 2024, KBS Real Estate Investment Trust III, Inc. filed an 8-K report detailing a submission of matters to a vote of security holders. The filing, made on July 25, 2024, pertains to a meeting where shareholders would vote on important company decisions. The company is incorporated in Maryland and its principal executive offices are located in Newport Beach, California.

Why It Matters

This filing indicates a shareholder meeting is scheduled, which could lead to significant corporate actions or changes in governance that directly impact investors.

Risk Assessment

Risk Level: medium — Shareholder votes can lead to significant changes in company strategy, management, or structure, introducing uncertainty.

Key Players & Entities

• KBS Real Estate Investment Trust III, Inc. (company) — Registrant
• July 23, 2024 (date) — Earliest event reported
• July 25, 2024 (date) — Filing date
• Maryland (jurisdiction) — State of incorporation
• Newport Beach, California (location) — Principal executive offices

FAQ

Filing Documents

• kbsriii-20240723.htm (8-K) — 40KB
• 0001482430-24-000046.txt ( ) — 153KB
• kbsriii-20240723.xsd (EX-101.SCH) — 2KB
• kbsriii-20240723_lab.xml (EX-101.LAB) — 20KB
• kbsriii-20240723_pre.xml (EX-101.PRE) — 11KB
• kbsriii-20240723_htm.xml (XML) — 3KB

07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS On July 23, 2024, KBS Real Estate Investment Trust III, Inc. (the "Company") held its annual meeting of stockholders (the "Annual Meeting") at the offices of KBS, 800 Newport Center Drive, 7th Floor Boardroom, Newport Beach, California 92660. At the Annual Meeting, the Company's stockholders voted in person or by proxy on (1) the election of five directors to hold office for one-year terms; and (2) the ratification of the appointment of Ernst & Young LLP ("E&Y") as the Company's independent registered public accounting firm for the year ending December 31, 2024. As related to the election of directors, none of the director nominees received affirmative votes from a majority of the shares present in person or by proxy at the Annual Meeting to be elected to the board of directors. Under Maryland law, if an incumbent director nominee fails to receive the required number of votes for re-election, he will continue to serve as a "hold-over" director until his successor is duly elected and qualified. As a result, each of the five director nominees will continue to serve as a "hold-over" director. There were 32,838,664 broker non-votes with respect to the election of the five director nominees. A "broker non-vote" occurs when a broker holding stock on behalf of a beneficial owner submits a proxy but does not vote on a particular proposal because the broker does not have discretionary voting power with respect to that particular proposal and has not received instructions from the beneficial owner. Brokers are precluded from exercising their voting discretion with respect to the approval of non-routine matters, such as the election of directors. Absent specific instructions from the beneficial owner of such shares, brokers will not vote those shares in the election of directors. Broker non-votes have the effect of a vote against the election of each nominee for director. A broker non-vote is not an indication of

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. KBS REAL ESTATE INVESTMENT TRUST III, INC. Dated: July 25, 2024 BY: /s/ Jeffrey K. Waldvogel Jeffrey K. Waldvogel Chief Financial Officer, Treasurer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR