Federal Realty Appoints New Chief Accounting Officer
Ticker: FRT-PC · Form: 8-K · Filed: Nov 15, 2024 · CIK: 34903
Sentiment: neutral
Topics: executive-appointment, compensation, personnel-change
TL;DR
FRT names Laura Cruickshank as CAO, starting Nov 18th. New role comes with $375K salary + incentives.
AI Summary
Federal Realty Investment Trust (FRT) announced on November 14, 2024, the appointment of Laura M. Cruickshank as Chief Accounting Officer, effective November 18, 2024. She will receive an annual base salary of $375,000 and will be eligible for the company's annual incentive plan and long-term equity awards. Cruickshank previously served as Senior Vice President and Chief Accounting Officer at Kite Realty Group Trust.
Why It Matters
The appointment of a new Chief Accounting Officer is a key leadership change that can impact financial reporting accuracy and investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns an executive appointment and compensation, which typically carries a low inherent risk.
Key Numbers
- $375,000 — Annual Base Salary (For the newly appointed Chief Accounting Officer, Laura M. Cruickshank.)
Key Players & Entities
- Federal Realty Investment Trust (company) — Filer
- Laura M. Cruickshank (person) — Appointed Chief Accounting Officer
- $375,000 (dollar_amount) — Annual base salary for new CAO
- November 18, 2024 (date) — Effective date of appointment
- Kite Realty Group Trust (company) — Previous employer of new CAO
FAQ
What is Laura M. Cruickshank's previous role?
Laura M. Cruickshank previously served as Senior Vice President and Chief Accounting Officer at Kite Realty Group Trust.
When is Laura M. Cruickshank's appointment effective?
The appointment of Laura M. Cruickshank as Chief Accounting Officer is effective November 18, 2024.
What is the annual base salary for the new Chief Accounting Officer?
The annual base salary for Laura M. Cruickshank is $375,000.
What other compensation is Laura M. Cruickshank eligible for?
Laura M. Cruickshank will be eligible for Federal Realty Investment Trust's annual incentive plan and long-term equity awards.
What specific items are disclosed in this 8-K filing?
This 8-K filing discloses the departure of directors or certain officers, election of directors, appointment of certain officers, compensatory arrangements of certain officers, Regulation FD Disclosure, and Financial Statements and Exhibits.
Filing Stats: 770 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2024-11-15 16:14:42
Key Financial Figures
- $0.04 — fourth quarter of 2024 of approximately $0.04 per diluted share against both net inco
Filing Documents
- frt-20241114.htm (8-K) — 37KB
- 0000034903-24-000073.txt ( ) — 213KB
- frt-20241114.xsd (EX-101.SCH) — 3KB
- frt-20241114_def.xml (EX-101.DEF) — 17KB
- frt-20241114_lab.xml (EX-101.LAB) — 30KB
- frt-20241114_pre.xml (EX-101.PRE) — 17KB
- frt-20241114_htm.xml (XML) — 5KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. The following information is furnished pursuant to Item 7.01, "Regulation FD Disclosure." This information shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. In connection with Mr. Berkes' departure from the Company, the Company expects to record a charge in the fourth quarter of 2024 of approximately $0.04 per diluted share against both net income available for common shareholders and funds from operations (FFO) available for common shareholders.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. FEDERAL REALTY INVESTMENT TRUST FEDERAL REALTY OP LP Date: November 15, 2024 /s/ Dawn M. Becker Dawn M. Becker Executive Vice President-General Counsel and Secretary