HOMEFED CORPORATION (OTCMKTS:HOFD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers
On December 19, 2018, the Compensation Committee of HomeFed Corporation (the “Company”) approved annual salary increases (effective January 1, 2019) and discretionary 2018 cash bonuses for each of the Company’s named executive officers.
|
2019 Base Salary |
2018 Bonus Award |
||||
|
Paul J. Borden Vice Chairman |
$ |
406,557 |
$ |
261,958 |
|
|
Christian E. Foulger President |
$ |
357,000 |
$ |
257,519 |
|
|
John Kent Aden, Jr. Vice President |
$ |
332,623 |
$ |
259,783 |
|
|
Erin N. Ruhe Vice President, Treasurer and Controller |
$ |
243,935 |
$ |
207,175 |
|
Includes a holiday bonus paid to each of the named executive officers based on a percentage of salary of $11,958 for Mr. Borden, $7,519 for Mr. Foulger, $9,783 for Mr. Aden and $7,175 for Ms. Ruhe. |
|
|
Does not include any potential gross-up bonuses for Mr. Borden for any reimbursements for taxes payable on travel, commuting or lodging expenses. |
The Compensation Committee also approved a retroactive increase to Mr. Foulger’s 2018 base salary to $350,000, which was previously reported as $250,628.
About HOMEFED CORPORATION (OTCMKTS:HOFD)
HomeFed Corporation is a developer and owner of residential and mixed-use real estate projects in California, Virginia, South Carolina, Florida, Maine and New York. The Company operates through three segments: real estate, farming and corporate. Its real estate operations consist of a range of residential and commercial land development projects and other unimproved land, all in various stages of development, and retail and office operating properties. Real estate also includes the equity method investments in Brooklyn Renaissance Holding Company LLC (BRP Holding) and Brooklyn Renaissance Hotel LLC (BRP Hotel). Its farming operations consist of the Rampage property, which includes an operating grape vineyard. The Company, as the owner of development projects, is engaged in a range of activities, including design engineering, grading raw land, constructing public infrastructure and finishing individual lots for home sites or other facilities.
