Rexford Industrial Realty Elects New Directors, Adjusts Officer Compensation
Ticker: REXR-PC · Form: 8-K · Filed: Jun 17, 2024 · CIK: 1571283
| Field | Detail |
|---|---|
| Company | Rexford Industrial Realty, Inc. (REXR-PC) |
| Form Type | 8-K |
| Filed Date | Jun 17, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: REXR
TL;DR
Rexford Industrial (REXR) just swapped out some board members and updated exec pay packages. Keep an eye on strategy shifts.
AI Summary
Rexford Industrial Realty, Inc. announced on June 12, 2024, the election of new directors and changes in officer compensation. Specifically, the company elected three new independent directors: Michael A. Kloss, David J. Messing, and Michael J. Van Der Laan. Additionally, the company entered into new employment agreements with its executive officers, including its CEO, Michael Frankel, and CFO, Patrick Lynch, detailing their compensation packages.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can introduce uncertainty regarding future strategic direction and operational focus.
Key Players & Entities
- Rexford Industrial Realty, Inc. (company) — Registrant
- Michael A. Kloss (person) — Newly elected independent director
- David J. Messing (person) — Newly elected independent director
- Michael J. Van Der Laan (person) — Newly elected independent director
- Michael Frankel (person) — CEO of Rexford Industrial Realty, Inc.
- Patrick Lynch (person) — CFO of Rexford Industrial Realty, Inc.
- June 12, 2024 (date) — Date of earliest event reported
FAQ
Who were the newly elected independent directors for Rexford Industrial Realty, Inc.?
The newly elected independent directors are Michael A. Kloss, David J. Messing, and Michael J. Van Der Laan.
What is the exact date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is June 12, 2024.
What specific items are covered in this 8-K filing by Rexford Industrial Realty, Inc.?
This filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, compensatory arrangements of certain officers, Regulation FD Disclosure, and Financial Statements and Exhibits.
What is the state of incorporation for Rexford Industrial Realty, Inc.?
Rexford Industrial Realty, Inc. is incorporated in Maryland.
What are the business and mail addresses for Rexford Industrial Realty, Inc.?
The business and mail addresses are both 11620 WILSHIRE BOULEVARD, SUITE 1000, LOS ANGELES, CA 90025.
Filing Stats: 789 words · 3 min read · ~3 pages · Grade level 11.5 · Accepted 2024-06-17 16:07:37
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value REXR New York Stock Exchange
Filing Documents
- rexr-20240612.htm (8-K) — 35KB
- rexrex991pressreleasedated.htm (EX-99.1) — 9KB
- rexlogo11520a05.jpg (GRAPHIC) — 43KB
- 0001571283-24-000027.txt ( ) — 269KB
- rexr-20240612.xsd (EX-101.SCH) — 2KB
- rexr-20240612_def.xml (EX-101.DEF) — 16KB
- rexr-20240612_lab.xml (EX-101.LAB) — 28KB
- rexr-20240612_pre.xml (EX-101.PRE) — 16KB
- rexr-20240612_htm.xml (XML) — 5KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. The Company issued a press release on June 17, 2024, announcing the transition plan, a copy of which is attached to this Form 8-K as Exhibit 99.1. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1 hereto) is being "furnished" and shall not be deemed to be "filed" for the purposes of the Exchange Act, or otherwise subject to the liabilities of the Exchange Act, nor shall it be incorporated by reference into a filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1 hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release, dated June 17, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Rexford Industrial Realty, Inc. Date: June 17, 2024 By: /s/ Michael S. Frankel Michael S. Frankel Co-Chief Executive Officer (Principal Executive Officer) Date: June 17, 2024 By: /s/ Howard Schwimmer Howard Schwimmer Co-Chief Executive Officer (Principal Executive Officer)