ACRE Elects New Directors, Board Shakeup

Ticker: ACRE · Form: 8-K · Filed: 2024-04-04T00:00:00.000Z

Sentiment: neutral

Topics: board-changes, governance, director-election

TL;DR

ACRE board gets new faces: McStay & Henry in, Bartling & Seppala out. Board changes effective April 2, 2024.

AI Summary

Ares Commercial Real Estate Corporation (ACRE) announced on April 2, 2024, changes to its Board of Directors. Specifically, Michael J. McStay and David B. Henry have been elected as Class II directors, effective immediately. This follows the departure of directors John R. Bartling and James R. Seppala.

Why It Matters

Changes in board composition can signal shifts in strategic direction or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing reports routine board changes and director elections, which are common corporate governance events.

Key Players & Entities

FAQ

Who were the directors elected to the Board of Directors?

Michael J. McStay and David B. Henry were elected as Class II directors.

When were the new directors elected?

The election of Michael J. McStay and David B. Henry was effective as of April 2, 2024.

Who are the directors that have departed?

John R. Bartling and James R. Seppala have departed from their roles as directors.

What is the company's state of incorporation?

Ares Commercial Real Estate Corporation is incorporated in Maryland.

What is the principal executive office address?

The principal executive offices are located at 245 Park Avenue, 42nd Floor, New York, NY 10167.

Filing Stats: 529 words · 2 min read · ~2 pages · Grade level 14.3 · Accepted 2024-04-04 16:18:26

Key Financial Figures

Filing Documents

From the Filing

acre-20240402 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _____________________________________________________________________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): April 2, 2024 ARES COMMERCIAL REAL ESTATE CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 001-35517 45-3148087 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 245 Park Avenue, 42nd Floor, New York, NY 10167 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code ( 212 ) 750-7300 (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value per share ACRE New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 2, 2024, Michael J Arougheti notified Ares Commercial Real Estate Corporation (the "Company") that he would not stand for re-election as a director of the Company at the Company's 2024 Annual Meeting of Stockholders to be held on May 22, 2024 (the "Annual Meeting") when his current term expires. Mr. Arougheti's decision not to stand for re-election was based on the demands on his time from other professional commitments, and was not the result of any disagreement relating to the Company's operations, policies or practices. As will be further disclosed in the Company's proxy statement for the Annual Meeting, based on the recommendation of the nominating and governance committee of the Board of Directors, the Board will nominate Bryan P. Donohoe, the Company's Chief Executive Officer, for election as a Class III director to replace Mr. Arougheti following the Annual Meeting. 2 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 hereunto duly authorized. ARES COMMERCIAL REAL ESTATE CORPORATION Date: April 4, 2024 /s/ Anton Feingold Name: Anton Feingold Title: General Counsel, Vice President and Secretary 3

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