AdCare Health Systems, Inc. (NYSEMKT:ADK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
AdCare Health Systems, Inc. (NYSEMKT:ADK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 28, 2017, the Board of Directors (the “Board”) of AdCare Health Systems, Inc. (the “Company”) appointed Brian M. Szames as a director of the Company, effective May 1, 2017. As of the date hereof, the Board has not determined any committee appointments for Mr. Szames.
Mr. Szames is entitled to receive compensation in accordance with the Company’s compensation plan for non-employee directors, as described in Part III, Item 11 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, which description is incorporated herein by this reference. To this end, the Company granted to Mr. Szames 23,364 shares of restricted common stock, which vest as to one-third of the underlying shares on January 1 of each of 2018, 2019 and 2020, and paid $25,000 in cash to Mr. Szames. The restricted stock award and cash payment represent prorated director compensation in respect of Mr. Szames’s service on the Board for the remaining portion of 2017.
About AdCare Health Systems, Inc. (NYSEMKT:ADK)
AdCare Health Systems, Inc., through its subsidiaries, is a self-managed real estate investment company that invests in real estate purposed for long-term care and senior living. The Company’s business principally consists of leasing and subleasing such facilities to third-party tenants, which operate the facilities. The Company owns, leases, or manages for third parties approximately 40 facilities mainly in the Southeast. Its portfolio consists of over 30 skilled nursing facilities, approximately two assisted living facilities and an independent living facility. The Company’s facilities provide a range of healthcare and related services to patients and residents, including skilled nursing and assisted living services, social services, various therapy services, and other rehabilitative and healthcare services for both long-term and short-stay patients and residents. AdCare Health Systems, Inc. (NYSEMKT:ADK) Recent Trading Information
AdCare Health Systems, Inc. (NYSEMKT:ADK) closed its last trading session up +0.01 at 1.05 with 44,128 shares trading hands.
AdCare Health Systems, Inc., through its subsidiaries, is a self-managed real estate investment company that invests in real estate purposed for long-term care and senior living. The Company’s business principally consists of leasing and subleasing such facilities to third-party tenants, which operate the facilities. The Company owns, leases, or manages for third parties approximately 40 facilities mainly in the Southeast. Its portfolio consists of over 30 skilled nursing facilities, approximately two assisted living facilities and an independent living facility. The Company’s facilities provide a range of healthcare and related services to patients and residents, including skilled nursing and assisted living services, social services, various therapy services, and other rehabilitative and healthcare services for both long-term and short-stay patients and residents. AdCare Health Systems, Inc. (NYSEMKT:ADK) Recent Trading Information
AdCare Health Systems, Inc. (NYSEMKT:ADK) closed its last trading session up +0.01 at 1.05 with 44,128 shares trading hands.
