SITE Centers Corp. Elects New Directors, Updates Executive Pay
Ticker: SITC · Form: 8-K · Filed: Mar 13, 2024 · CIK: 894315
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
TL;DR
SITE Centers adds 2 directors, updates CEO/CFO pay packages.
AI Summary
SITE Centers Corp. announced on March 13, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Michael T. Culhane and David B. Henry, to its Board of Directors, effective immediately. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Paul J. McDonagh, and Chief Financial Officer, Thomas G. Roberts, detailing their compensation packages.
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 — The filing primarily concerns routine corporate governance and executive compensation matters, with no immediate financial distress or significant operational changes indicated.
Key Players & Entities
- SITE Centers Corp. (company) — Registrant
- Michael T. Culhane (person) — Newly Elected Director
- David B. Henry (person) — Newly Elected Director
- Paul J. McDonagh (person) — Chief Executive Officer
- Thomas G. Roberts (person) — Chief Financial Officer
- March 13, 2024 (date) — Date of Report
FAQ
Who were the new directors elected to the SITE Centers Corp. Board?
Michael T. Culhane and David B. Henry were elected as new directors to the Board of Directors of SITE Centers Corp.
When were the new directors elected?
The new directors were elected effective March 13, 2024.
What specific roles do Paul J. McDonagh and Thomas G. Roberts hold?
Paul J. McDonagh is the Chief Executive Officer and Thomas G. Roberts is the Chief Financial Officer of SITE Centers Corp.
What is the primary purpose of this 8-K filing?
This 8-K filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
What is the state of incorporation for SITE Centers Corp.?
SITE Centers Corp. is incorporated in Ohio.
Filing Stats: 548 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-03-13 16:05:57
Key Financial Figures
- $0.10 — ch registered Common Shares, Par Value $0.10 Per Share SITC New York Stock Excha
- $200,000 — ng a number of Company shares valued at $200,000 and generally vesting on the fourth ann
Filing Documents
- d791875d8k.htm (8-K) — 25KB
- 0001193125-24-066820.txt ( ) — 176KB
- sitc-20240313.xsd (EX-101.SCH) — 4KB
- sitc-20240313_def.xml (EX-101.DEF) — 13KB
- sitc-20240313_lab.xml (EX-101.LAB) — 21KB
- sitc-20240313_pre.xml (EX-101.PRE) — 14KB
- d791875d8k_htm.xml (XML) — 6KB
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. SITE Centers Corp. Date: March 13, 2024 By: /s/ Aaron Kitlowski Name: Aaron Kitlowski Title: Executive Vice President, General Counsel and Secretary