RLJ Lodging Trust Announces Board and Executive Changes
Ticker: RLJ-PA · Form: 8-K · Filed: Dec 23, 2024 · CIK: 1511337
| Field | Detail |
|---|---|
| Company | Rlj Lodging Trust (RLJ-PA) |
| Form Type | 8-K |
| Filed Date | Dec 23, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $565,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-changes, board-of-directors
Related Tickers: RLJ
TL;DR
RLJ Lodging Trust reshuffled its board and exec comp plans as of Dec 20, 2024.
AI Summary
RLJ Lodging Trust (RLJ) announced on December 20, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory plans.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns corporate governance and executive appointments, which typically carry lower immediate risk compared to financial or operational disclosures.
Key Players & Entities
- RLJ Lodging Trust (company) — Registrant
- December 20, 2024 (date) — Date of earliest event reported
FAQ
What specific roles have been affected by the departure of officers or directors?
The filing indicates changes in directorships and officer positions but does not specify the exact roles vacated or filled in this summary.
When were these changes in directors and officers effective?
The earliest event reported is dated December 20, 2024.
Are there any new compensatory arrangements being disclosed?
Yes, the filing mentions 'Compensatory Arrangements of Certain Officers' as an item being reported.
What is the principal executive office address for RLJ Lodging Trust?
The principal executive offices are located at 7373 Wisconsin Avenue, Suite 1500, Bethesda, Maryland 20814.
Under which section of the Securities Exchange Act of 1934 is this Form 8-K filed?
This Form 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 707 words · 3 min read · ~2 pages · Grade level 11.8 · Accepted 2024-12-23 16:05:35
Key Financial Figures
- $0.01 — hares of beneficial interest, par value $0.01 per share RLJ New York Stock Exchange
- $565,000 — annual base salary will continue to be $565,000, which base salary is subject to annual
Filing Documents
- tm2431683d1_8k.htm (8-K) — 31KB
- tm2431683d1_ex10-1.htm (EX-10.1) — 116KB
- 0001104659-24-131279.txt ( ) — 345KB
- rlj-20241220.xsd (EX-101.SCH) — 3KB
- rlj-20241220_lab.xml (EX-101.LAB) — 33KB
- rlj-20241220_pre.xml (EX-101.PRE) — 22KB
- tm2431683d1_8k_htm.xml (XML) — 4KB
02. Departure of
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On December 20, 2024, RLJ Lodging Trust (the "Company") and RLJ Lodging Trust, L.P., the Company's operating partnership, entered into a second amended and restated employment agreement with Thomas Bardenett, the Executive Vice President and Chief Operating Officer of the Company. The employment agreement (the "Bardenett Employment Agreement"), which supersedes the amended and restated employment agreement previously entered into between the parties, contains terms and conditions that are substantially the same as such prior amended and restated employment agreement. Pursuant to the Bardenett Employment Agreement, Mr. Bardenett will continue in his role as the Company's Executive Vice President and Chief Operating Officer. The Bardenett Employment Agreement is effective as of December 20, 2024. Including the automatic renewal term set forth in the agreement, the term of the Bardenett Employment Agreement runs until February 2029. Mr. Bardenett's annual base salary will continue to be $565,000, which base salary is subject to annual review and may be increased but not decreased from time to time. Mr. Bardenett is eligible to receive (i) an annual cash bonus, with a target cash bonus opportunity equal to 100% of his then-current base salary, and (ii) ongoing equity incentive awards. The Bardenett Employment Agreement also (i) sets forth Mr. Bardenett's right to severance payments and/or benefits upon his termination of employment and (ii) contains customary non-competition and non-solicitation covenants that apply during the term and for 12 months following the expiration or termination of Mr. Bardenett's employment. A copy of the Bardenett Employment Agreement is attached to this report as Exhibit 10.1 and incorporated herein by reference. The summary set forth above is qualified in its entirety by reference
01. Financial Statements
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Second Amended and Restated Employment Agreement, dated as of December 20, 2024, by and among RLJ Lodging Trust, RLJ Lodging Trust, L.P. and Thomas Bardenett 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, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. RLJ Lodging Trust Date: December 23, 2024 By: /s/ Leslie D. Hale Leslie D. Hale President and Chief Executive Officer