SITE Centers Corp. Reports Board Changes and Compensation Updates
Ticker: SITC · Form: 8-K · Filed: Sep 17, 2024 · CIK: 894315
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: SITC
TL;DR
SITE Centers Corp. swapped a director and tweaked exec pay. Keep an eye on strategy shifts.
AI Summary
SITE Centers Corp. announced on September 11, 2024, a change in its board of directors and executive compensation arrangements. Specifically, the company reported the departure of a director and the election of a new director, along with updates to its compensatory plans for certain officers.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing details routine corporate governance changes and compensation adjustments, which typically do not represent significant immediate risks.
Key Players & Entities
- SITE Centers Corp. (company) — Registrant
- September 11, 2024 (date) — Earliest event reported
FAQ
Who departed from the SITE Centers Corp. board of directors?
The filing indicates a departure of a director, but does not name the specific individual in the provided text.
Who was elected to the SITE Centers Corp. board of directors?
The filing states the election of a new director, but does not provide the name of the individual in the provided text.
What specific compensatory arrangements were updated for SITE Centers Corp. officers?
The filing mentions updates to compensatory arrangements for certain officers, but the specific details of these arrangements are not elaborated in the provided text.
What is the primary purpose of this 8-K filing for SITE Centers Corp.?
The primary purpose is to report on the departure of a director, the election of a new director, and changes to compensatory arrangements of certain officers.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on September 11, 2024.
Filing Stats: 1,241 words · 5 min read · ~4 pages · Grade level 13.1 · Accepted 2024-09-17 06:56:32
Key Financial Figures
- $0.10 — ch registered Common Shares, Par Value $0.10 Per Share SITC New York Stock Excha
- $60,000 — will receive an annual cash retainer of $60,000 per year, paid quarterly; (2) the non-e
- $50,000 — e an additional annual cash retainer of $50,000 per year, paid quarterly; (3) the chair
- $25,000 — annual cash retainers in the amount of $25,000, $15,000 and $15,000, respectively, whi
- $15,000 — ash retainers in the amount of $25,000, $15,000 and $15,000, respectively, while the no
- $12,500 — annual cash retainers in the amount of $12,500, $7,500 and $7,500, respectively (all o
- $7,500 — ash retainers in the amount of $12,500, $7,500 and $7,500, respectively (all of which
- $2,000 — director will receive a meeting fee of $2,000 ($3,000 for the non-employee Chair of t
- $3,000 — r will receive a meeting fee of $2,000 ($3,000 for the non-employee Chair of the Board
- $300,000 — ted share units grant equal in value to $300,000 that vests on a ratable basis, subject
Filing Documents
- d863019d8k.htm (8-K) — 32KB
- 0001193125-24-220121.txt ( ) — 188KB
- sitc-20240911.xsd (EX-101.SCH) — 4KB
- sitc-20240911_def.xml (EX-101.DEF) — 13KB
- sitc-20240911_lab.xml (EX-101.LAB) — 22KB
- sitc-20240911_pre.xml (EX-101.PRE) — 14KB
- d863019d8k_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: September 17, 2024 By: /s/ Aaron Kitlowski Name: Aaron Kitlowski Title: Executive Vice President, General Counsel and Secretary