Sunstone Hotel Investors Announces Board and Officer Changes
Ticker: SHO-PI · Form: 8-K · Filed: Jan 22, 2025 · CIK: 1295810
| Field | Detail |
|---|---|
| Company | Sunstone Hotel Investors, Inc. (SHO-PI) |
| Form Type | 8-K |
| Filed Date | Jan 22, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, governance, officer-appointment, director-election
Related Tickers: SHO
TL;DR
Sunstone Hotel Investors (SHO) filed an 8-K detailing board and executive changes effective Jan 21.
AI Summary
Sunstone Hotel Investors, Inc. filed an 8-K on January 22, 2025, reporting changes effective January 21, 2025. The filing details the departure of directors or certain officers, the election of new directors, the appointment of certain officers, and updates to compensatory arrangements for specific officers. Specific names and dollar amounts related to these changes are not detailed in this excerpt.
Why It Matters
Changes in a company's board of directors and executive officers can signal shifts in strategy, governance, or operational focus.
Risk Assessment
Risk Level: medium — Changes in leadership and executive compensation can indicate internal shifts that may impact future performance.
Key Players & Entities
- Sunstone Hotel Investors, Inc. (company) — Registrant
- January 21, 2025 (date) — Effective date of reported changes
- January 22, 2025 (date) — Filing date of the 8-K
FAQ
What specific roles have been affected by the director and officer changes?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers,' but the specific roles are not detailed in this excerpt.
Are there any new directors or officers appointed?
Yes, the filing explicitly mentions the 'Election of Directors' and 'Appointment of Certain Officers'.
What is the effective date of these reported changes?
The earliest event reported is dated January 21, 2025.
Does the filing provide details on new compensatory arrangements?
Yes, the filing covers 'Compensatory Arrangements of Certain Officers'.
What is the CIK and SEC file number for Sunstone Hotel Investors, Inc.?
The Central Index Key (CIK) is 0001295810 and the SEC file number is 001-32319.
Filing Stats: 631 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2025-01-22 08:00:13
Key Financial Figures
- $0.01 — ange on Which Registered Common Stock, $0.01 par value SHO New York Stock Exchan
Filing Documents
- sho-20250121x8k.htm (8-K) — 51KB
- 0001558370-25-000301.txt ( ) — 206KB
- sho-20250121.xsd (EX-101.SCH) — 4KB
- sho-20250121_def.xml (EX-101.DEF) — 14KB
- sho-20250121_lab.xml (EX-101.LAB) — 20KB
- sho-20250121_pre.xml (EX-101.PRE) — 13KB
- sho-20250121x8k_htm.xml (XML) — 8KB
02
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. In connection with the restructuring by Sunstone Hotel Investors, Inc. (the "Company") of its executive team, the Company has determined to eliminate the position of Chief Operating Officer from its management structure. As a result, Chris Ostapovicz will depart from his position as Chief Operating Officer of the Company, effective January 21, 2025. The responsibilities previously performed by the Chief Operating Officer will be assumed by the Company's President and Chief Investment Officer and other members of the Company's executive team. Following his departure, Mr. Ostapovicz has agreed to cooperate with the Company through January 31, 2025, to provide transition assistance in connection with the Company's management restructuring. The Company and Mr. Ostapovicz entered into a Separation Agreement and General Release (the "Separation Agreement") pursuant to which, subject to Mr. Ostapovicz's execution and non-revocation of a general release of claims and his continued compliance with certain terms and conditions set forth in the Separation Agreement, Mr. Ostapovicz will receive the following payments and benefits: (i) a cash payment in an amount equal to two times the sum of Mr. Ostapovicz's base salary and target bonus for 2024, (ii) accelerated vesting of restricted stock and performance-vesting restricted stock unit awards covering an aggregate of 132,270 shares of the Company's common stock, (iii) continued health insurance coverage under COBRA for Mr. Ostapovicz, his spouse and dependents for up to eighteen months. SIGNATURE 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. Sunstone Hotel Investors, Inc. Date: January 22, 2025 By: /s/ Aaron R. Reyes Aaron R. Reyes Principal Financial Officer and