Realty Income Elects New Directors, Adjusts Officer Compensation

Ticker: O · Form: 8-K · Filed: 2024-05-30T00:00:00.000Z

Sentiment: neutral

Topics: corporate-governance, board-of-directors, executive-compensation

Related Tickers: O

TL;DR

Realty Income (O) board shakeup and exec comp changes filed. New directors elected.

AI Summary

Realty Income Corp. announced on May 29, 2024, the election of new directors and changes in its officer compensation arrangements. Specifically, the company elected three new directors: Ms. Jennifer F. Roberts, Mr. Jonathan M. Roth, and Mr. Paul D. Ryan. The filing also details compensatory arrangements for certain officers, though specific dollar amounts for these arrangements are not provided in this excerpt.

Why It Matters

Changes in board composition and executive compensation can signal shifts in corporate strategy and governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing concerns routine corporate governance matters such as director elections and compensation arrangements, which typically carry low inherent risk.

Key Players & Entities

FAQ

Who are the newly elected directors of Realty Income Corp.?

The newly elected directors are Ms. Jennifer F. Roberts, Mr. Jonathan M. Roth, and Mr. Paul D. Ryan.

What is the filing date of this 8-K?

The filing date is May 30, 2024.

What is the period of report for this filing?

The conformed period of report is May 29, 2024.

What are the main items covered in this 8-K filing?

The filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.

What is Realty Income Corp.'s Standard Industrial Classification (SIC) code?

Realty Income Corp.'s SIC code is 6798, which corresponds to Real Estate Investment Trusts.

Filing Stats: 753 words · 3 min read · ~3 pages · Grade level 10.2 · Accepted 2024-05-30 16:13:03

Key Financial Figures

Filing Documents

02

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers. Appointment of Neale Redington as Chief Accounting Officer On May 29, 2024, Realty Income Corporation (the "Company") appointed Neale Redington, as Senior Vice President and Chief Accounting Officer of the Company effective June 27, 2024 (the "Effective Date"), succeeding Sean Nugent as principal accounting officer of the Company. As of the Effective Date, Sean Nugent will continue to serve as the Company's Senior Vice President and Controller. Mr. Redington, 57, previously served as Chief Accounting Officer of Colony Capital, Inc. (now known as Digital Bridge Group, Inc.) from 2008 to 2021 and as the Chief Financial Officer for its Non-Digital business from 2021 to 2022. He also served as Chief Financial Officer of Colony Credit Real Estate, Inc. (now known as Brightspire Capital, Inc.) from 2018 to 2021. Mr. Redington began his career at Deloitte & Touche LLP ("Deloitte") in 1987 and remained there until 2008. During his tenure at Deloitte, he worked as an Audit Partner and as the U.S. Partner-in-charge of Hospitality Audit. Mr. Redington holds a Bachelor of Commerce degree in Accounting from the University of Birmingham in England and is a Fellow Chartered Accountant in England and Wales as well as being licensed as a Certified Public Accountant in California (inactive). Mr. Redington has no family relationships with any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company. Mr. Redington is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. Redington's annual compensation consists of a base salary of $350,000, a target annual cash bonus of $350,000, and a 2024 target annual restricted stock award with a value of $600,000. SIGNATURE Pursuant to the requirements of the

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