Sila Realty Trust Amends Director Appointments and Compensation Committee
Ticker: SILA · Form: 8-K/A · Filed: Apr 9, 2024 · CIK: 1567925
Sentiment: neutral
Topics: corporate-governance, board-of-directors, amendment
TL;DR
Sila Realty Trust board shakeup: Michael Seton out, Bergstrom & D'Loren in. Compensation committee also sees new faces.
AI Summary
Sila Realty Trust, Inc. filed an 8-K/A on April 9, 2024, to amend a previous filing regarding the departure of Director Michael Seton and the appointment of new directors, including John F. Bergstrom, Robert J. D'Loren, and Michael A. Seton, effective March 20, 2024. The amendment also details changes to the compensation committee, with new members including Mr. Bergstrom and Mr. D'Loren.
Why It Matters
This filing clarifies changes in Sila Realty Trust's board of directors and compensation committee, impacting corporate governance and executive oversight.
Risk Assessment
Risk Level: low — This is an amendment to a previous filing concerning director appointments and committee changes, with no immediate financial implications.
Key Players & Entities
- Sila Realty Trust, Inc. (company) — Registrant
- Michael Seton (person) — Departing Director
- John F. Bergstrom (person) — Appointed Director and Compensation Committee Member
- Robert J. D'Loren (person) — Appointed Director and Compensation Committee Member
- March 20, 2024 (date) — Effective date of director changes
- April 9, 2024 (date) — Filing date of the 8-K/A
FAQ
What specific event prompted the filing of this 8-K/A?
The 8-K/A was filed to amend a previous report concerning the departure of Director Michael Seton and the appointment of new directors and changes to the compensation committee.
Who were the new directors appointed to Sila Realty Trust's board?
John F. Bergstrom, Robert J. D'Loren, and Michael A. Seton were appointed as new directors.
When were these director changes effective?
The changes were effective as of March 20, 2024.
Which committee saw changes in its membership?
The compensation committee saw changes in its membership.
Who are the new members of the compensation committee?
John F. Bergstrom and Robert J. D'Loren are new members of the compensation committee.
Filing Stats: 728 words · 3 min read · ~2 pages · Grade level 12.8 · Accepted 2024-04-09 16:54:58
Filing Documents
- cik0001567925-20240320.htm (8-K/A) — 27KB
- 0001567925-24-000020.txt ( ) — 152KB
- cik0001567925-20240320.xsd (EX-101.SCH) — 2KB
- cik0001567925-20240320_lab.xml (EX-101.LAB) — 22KB
- cik0001567925-20240320_pre.xml (EX-101.PRE) — 13KB
- cik0001567925-20240320_htm.xml (XML) — 3KB
From the Filing
cik0001567925-20240320 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________ FORM 8-K/A ___________________________________________ CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): March 20, 2024 ___________________________________________ SILA REALTY TRUST, INC. (Exact Name of Registrant as Specified in Its Charter) ___________________________________________ Maryland 000-55435 46-1854011 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) 1001 Water St. Suite 800 Tampa , Florida 33602 (Address of principal executive offices) ( 813 ) 287-0101 (Registrant's telephone number, including area code) N/A (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: 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: None Title of each class Trading Symbol Name of each exchange on which registered N/A N/A N/A Indicate by check mark whether the registrant is an emerging growth company 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. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously disclosed in the Current Report on Form 8-K filed by Sila Realty Trust, Inc. (the "Company") on March 26, 2024: (1) on March 20, 2024, the Company notified Robert R. Labenski, its former Chief Accounting Officer, of the termination of his employment, effective immediately, and (2) on March 25, 2024, the Company notified Jon C. Sajeski, its former Chief Investment Officer, of the termination of his employment, effective immediately. In connection with his termination from the Company, Mr. Labenski subsequently executed a general release of claims against the Company in exchange for certain benefits in accordance with the Company's Severance Plan, including: (a) the sum of (i) a cash severance payment equal to the product of his base salary and target annual bonus, and a severance multiple of 1.5 and (ii) his target annual bonus for 2024 prorated for the portion of the year he was employed; (b) full and immediate vesting of his time-based equity incentive awards; (c) immediate vesting of a pro-rated portion of his performance-based equity incentive awards; and (d) a cash payment relating to dividends on his vested performance-based equity incentive awards. Among other things, Mr. Labenski is subject to certain non-solicitation and non-competition covenants for a period of twenty-four months following the termination of his employment. In connection with the end of his employment with the Company, Mr. Sajeski subsequently executed a general release of claims against the Company in exchange for certain benefits in accordance with the Company's Severance Plan, including: (a) the sum of (i) a cash severance payment equal to the product of his base salary and target annual bonus, and a severance multiple of 1.5 and (ii) his target annual bonus for 2024 prorated for the portion of the year he was employed; (b) full and immediate vesting of his time-based equity incentive awards; (c) immediate vesting of a pro-rated portion of his performance-based equity incentive awards; and (d) a cash payment relating to dividends on his vested performance-based equity incentive awards. Among other things, Mr. Sajeski is subject to certain non-solicitation and non-competition covenants for a period of eighteen months following the end of his employment. 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. SILA REALTY TRUST, INC. Dated: April 9, 2024 By: /s/ Kay C. Neely Name: Kay C. Neely Title: Chief Financial Officer