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

ME Staff 8-k
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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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On March 23, 2017, Ian M. Cumming notified HomeFed Corporation (the “Company”) that he resigned as a director of the Company, which resignation was effective immediately. Mr. Cumming resigned for personal reasons and not as a result of a disagreement with the Company.
(d) On March 28, 2017, the Board of Directors (the “Board”) of the Company appointed Jimmy Hallac as a director of the Company, effective immediately. The appointment of Mr. Hallac fills the vacancy created by the resignation of Mr. Cumming.
Mr. Hallac, 47, is a Managing Director of Leucadia National Corporation (“Leucadia”) where he has been employed since 2002. Mr. Hallac is also on the boards of certain of Leucadia’s portfolio entities, including, FXCM Group LLC, as Chairman, Linkem S.p.A.and Golden Queen Mining Company LLC.
Mr. Hallac is entitled to director compensation consistent with the compensation provided to other members of the Board. Mr. Hallac has elected to direct his director fees to Leucadia. Leucadia is the beneficial owner of approximately 70% of the Company’s outstanding common stock, and, to a stockholders agreement with the Company, has agreed to limit its vote to no more than 45% of the total outstanding voting securities voting on any matter.


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.

HOMEFED CORPORATION (OTCMKTS:HOFD) Recent Trading Information

HOMEFED CORPORATION (OTCMKTS:HOFD) closed its last trading session 00.00 at 44.20 with 186 shares trading hands.