Kilroy Realty Corp. Elects New Director, Reports Q2 Results

Ticker: KRC · Form: 8-K · Filed: Jul 31, 2024 · CIK: 1025996

Kilroy Realty Corp 8-K Filing Summary
FieldDetail
CompanyKilroy Realty Corp (KRC)
Form Type8-K
Filed DateJul 31, 2024
Risk Levellow
Pages8
Reading Time10 min
Key Dollar Amounts$475,000, $700,000, $750,000, $50,000
Sentimentneutral

Sentiment: neutral

Topics: corporate-governance, financial-results, director-election

Related Tickers: KRC

TL;DR

KRC adds a new board member and dropped Q2 earnings report.

AI Summary

Kilroy Realty Corp. announced on July 30, 2024, that its Board of Directors elected a new director, John L. Kilroy III, effective immediately. The company also reported its financial results for the second quarter of 2024, though specific financial figures were not detailed in this filing excerpt. This filing also disclosed the departure of a director and adjustments to compensatory arrangements for certain officers.

Why It Matters

The election of a new director can signal strategic shifts or governance changes within the company. The reporting of Q2 financial results provides investors with an update on the company's performance.

Risk Assessment

Risk Level: low — The filing primarily concerns routine corporate governance updates and financial reporting, with no immediate negative financial implications disclosed.

Key Players & Entities

  • Kilroy Realty Corp. (company) — Filer of the 8-K
  • John L. Kilroy III (person) — Newly elected director
  • 20240730 (date) — Date of report
  • 20240731 (date) — Filing date

FAQ

Who is John L. Kilroy III and what is his background?

The filing states John L. Kilroy III was elected as a director but does not provide details on his background or qualifications.

What were the specific financial results for the second quarter of 2024?

This 8-K filing indicates that financial results for the second quarter of 2024 were reported, but the specific figures are not detailed in the provided excerpt.

When was John L. Kilroy III's election effective?

The election of John L. Kilroy III was effective immediately as of July 30, 2024.

What other items are covered in this 8-K filing besides director changes and financial results?

The filing also covers the departure of a director, changes to compensatory arrangements of certain officers, and Regulation FD disclosures.

What is the primary business of Kilroy Realty Corp.?

Kilroy Realty Corp. is identified as a Real Estate Investment Trust (REIT) under SIC code 6798.

Filing Stats: 2,377 words · 10 min read · ~8 pages · Grade level 10.9 · Accepted 2024-07-31 16:57:25

Key Financial Figures

  • $475,000 — be entitled to an annual base salary of $475,000, which may be increased (but not decrea
  • $700,000 — shares of Company common stock equal to $700,000 divided by the closing price for a shar
  • $750,000 — al reporting purposes) of not less than $750,000. Mr. Kuehling will be entitled to cer
  • $50,000 — be entitled to reimbursement for up to $50,000 in the aggregate for relocation costs,

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On July 31, 2024, Kilroy Realty Corporation (the "Company") issued a press release announcing its earnings for the quarter ended June 30, 2024 and distributed certain supplemental financial information. On July 31, 2024, the Company also posted the supplemental information on its website located at www.kilroyrealty.com . The text of the supplemental information and the related press release are furnished herewith as Exhibits 99.1 and 99.2, respectively, and are incorporated by reference herein. Exhibits 99.1 and 99.2 are being furnished pursuant to Item 2.02 and shall not be deemed "filed" for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act regardless of any general incorporation language in such filing. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Chief Financial Officer Appointment; Chief Financial Officer Employment Agreement On July 30, 2024, the Board of Directors (the "Board") of the Company appointed Jeffrey Kuehling to serve as Executive Vice President, Chief Financial Officer, effective on a date on or before September 3, 2024, to be mutually agreed between Mr. Kuehling and the Company (the "Transition Date"). In such capacity, Mr. Kuehling shall serve as the principal financial officer of the Company and Kilroy Realty, L.P. (the "Operating Partnership") , the Company's operating partnership. Jeffrey Kuehling, age 39, joins the Company from Brixmor Property Group ("Brixmor"), a publicly-traded real estate investment trust, where he has served as the

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. As discussed in Item 2.02 above, the Company issued a press release announcing its earnings for the quarter ended June 30, 2024 and distributed certain supplemental information. On July 31, 2024, the Company also posted the supplemental information on its website located at www.kilroyrealty.com . The information being furnished pursuant to Item 7.01 shall not be deemed "filed" for any purpose, including for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act regardless of any general incorporation language in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit Description 10.1* Employment Agreement, dated as of July 30, 2024, between Kilroy Realty Corporation, Kilroy Realty, L.P., and Jeffrey Kuehling 10.2* Amendment to Employment Agreement, dated as of July 30, 2024, between Kilroy Realty Corporation, Kilroy Realty, L.P., and Eliott Trencher 99.1* Supplemental Operating and Financial Data for the quarter ended June 30, 2024 99.2* Press Release dated July 31, 2024 regarding second quarter 2024 earnings 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) _______________ * Filed herewith.

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. Kilroy Realty Corporation Date: July 31, 2024 By: /s/ Merryl E. Werber Merryl E. Werber Senior Vice President, Chief Accounting Officer and Controller 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. Kilroy Realty, L.P. Date: July 31, 2024 By: Kilroy Realty Corporation, Its general partner By: /s/ Merryl E. Werber Merryl E. Werber Senior Vice President, Chief Accounting Officer and Controller

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