Veris Residential Board Changes and Officer Compensation Disclosed
Ticker: VRE · Form: 8-K · Filed: Mar 11, 2024 · CIK: 924901
| Field | Detail |
|---|---|
| Company | Veris Residential, Inc. (VRE) |
| Form Type | 8-K |
| Filed Date | Mar 11, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $800,000, $4,400,000, $25,000, $30,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, management-changes
TL;DR
Veris Residential board shakeup: Sztorc out, Levy in. Officer pay details also filed.
AI Summary
Veris Residential, Inc. announced on March 8, 2024, the departure of Director David J. Sztorc and the appointment of new Director Michael A. LEVY. The company also disclosed compensatory arrangements for certain officers, though specific details and dollar amounts are not provided in this excerpt.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, while details on officer compensation are crucial for understanding executive incentives and potential shareholder value.
Risk Assessment
Risk Level: medium — Board changes and executive compensation disclosures can impact investor confidence and signal potential strategic shifts.
Key Players & Entities
- Veris Residential, Inc. (company) — Filer
- David J. Sztorc (person) — Departing Director
- Michael A. LEVY (person) — Appointed Director
- MACK CALI REALTY CORP (company) — Former Company Name
- CALI REALTY CORP /NEW/ (company) — Former Company Name
- CALI REALTY L P (company) — Former Company Name
- Veris Residential, L.P. (company) — Related Entity
FAQ
Who has departed from the Veris Residential, Inc. board of directors?
David J. Sztorc has departed from the board of directors.
Who has been appointed as a new director to Veris Residential, Inc.?
Michael A. LEVY has been appointed as a new director.
What is the filing date for this 8-K report?
The filing date is March 11, 2024.
What were Veris Residential, Inc.'s former names?
Veris Residential, Inc. was formerly known as MACK CALI REALTY CORP, CALI REALTY CORP /NEW/, and CALI REALTY L P.
What is the primary business of Veris Residential, Inc. according to the filing?
Veris Residential, Inc. is classified under Real Estate Investment Trusts (SIC code 6798).
Filing Stats: 1,226 words · 5 min read · ~4 pages · Grade level 12.5 · Accepted 2024-03-11 16:08:14
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 VRE New York Stock Exchange Indic
- $800,000 — terminated. An annual base salary of $800,000, subject to potential merit increases (
- $4,400,000 — nual aggregate grant date fair value of $4,400,000. One-half of each annual equity award w
- $25,000 — not to exceed a cost to the Company of $25,000 per year), Mr. Nia will receive up to $
- $30,000 — 0 per year), Mr. Nia will receive up to $30,000 per year in tax compliance assistance,
- $700,000 — olitan area, a reloctation allowance of $700,000. Upon a termination on account of dea
Filing Documents
- tm248438d1_8k.htm (8-K) — 46KB
- tm248438d1_ex10-1.htm (EX-10.1) — 121KB
- 0001104659-24-032969.txt ( ) — 425KB
- vre-20240308.xsd (EX-101.SCH) — 3KB
- vre-20240308_def.xml (EX-101.DEF) — 26KB
- vre-20240308_lab.xml (EX-101.LAB) — 35KB
- vre-20240308_pre.xml (EX-101.PRE) — 24KB
- tm248438d1_8k_htm.xml (XML) — 7KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit Number Exhibit Title 10.1 Amended and Restated Executive Employment Agreement dated as of March 8, 2024 by and among Mahbod Nia, Veris Residential UK Ltd. And Veris Residential, Inc.. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VERIS RESIDENTIAL, INC. Dated: March 11, 2024 By: /s/ Taryn Fielder Taryn Fielder General Counsel and Secretary VERIS RESIDENTIAL, L.P. By: Veris Residential, Inc., its general partner Dated: March 11, 2024 By: /s/ Taryn Fielder Taryn Fielder General Counsel and Secretary 4