Chicago Atlantic Real Estate Finance Appoints New Directors
Ticker: REFI · Form: 8-K · Filed: Dec 16, 2024 · CIK: 1867949
Sentiment: neutral
Topics: board-changes, executive-compensation, director-appointment
Related Tickers: ACRE
TL;DR
Chicago Atlantic RE FI (ACRE) board shakeup: Long out, Van Der Kamp & Sugarman in. New exec pay kicks in Jan 1.
AI Summary
Chicago Atlantic Real Estate Finance, Inc. announced on December 11, 2024, the departure of director John T. Long and the appointment of two new directors, Michael J. Van Der Kamp and David J. Sugarman. The company also disclosed compensatory arrangements for its officers, including base salaries and potential bonuses, effective January 1, 2025.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, while details on executive compensation provide insight into management's incentives.
Risk Assessment
Risk Level: low — The filing reports routine board changes and executive compensation details, which are standard corporate disclosures.
Key Players & Entities
- John T. Long (person) — Departing Director
- Michael J. Van Der Kamp (person) — Appointed Director
- David J. Sugarman (person) — Appointed Director
- Chicago Atlantic Real Estate Finance, Inc. (company) — Registrant
- December 11, 2024 (date) — Date of earliest event reported
- January 1, 2025 (date) — Effective date for new compensation arrangements
FAQ
Who has departed from the board of directors?
John T. Long has departed from the board of directors.
Who are the newly appointed directors?
Michael J. Van Der Kamp and David J. Sugarman have been appointed as new directors.
When do the new compensatory arrangements for officers become effective?
The new compensatory arrangements for officers become effective on January 1, 2025.
What is the principal executive office address of Chicago Atlantic Real Estate Finance, Inc.?
The principal executive office is located at 1680 Michigan Avenue, Suite 700, Miami Beach, Florida 33139.
What is the company's state of incorporation?
The company is incorporated in Maryland.
Filing Stats: 485 words · 2 min read · ~2 pages · Grade level 12.5 · Accepted 2024-12-16 17:19:02
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share REFI The Nasdaq Global Ma
Filing Documents
- ea0224895-8k_chicago.htm (8-K) — 24KB
- 0001213900-24-109396.txt ( ) — 194KB
- refi-20241211.xsd (EX-101.SCH) — 3KB
- refi-20241211_lab.xml (EX-101.LAB) — 33KB
- refi-20241211_pre.xml (EX-101.PRE) — 22KB
- ea0224895-8k_chicago_htm.xml (XML) — 4KB
02 Departure of Directors or Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 11, 2024, Donald Gulbrandsen notified the Board of Directors (the "Board") of Chicago Atlantic Real Estate Finance, Inc. (The "Company") of his resignation, effective as of January 1, 2025, from his position as a member of the Board, and all committees of the Board that he served on. Mr. Gulbrandsen's resignation is not a result of any disagreement with the Company or on any matter relating to the Company's operations, policies or practices. Mr. Gulbrandsen will remain in his positions until his resignation becomes effective. The Board has launched a search to identify new independent director candidates. 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. CHICAGO ATLANTIC REAL ESTATE FINANCE, INC. Date: December 16, 2024 By: /s/ Peter Sack Name: Peter Sack Title: Co-Chief Executive Officer 2