AMREP CORPORATION (NYSE:AXR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 21, 2017, a sub-committee of the Compensation and Human Resources Committee (the “Committee”) of the Board of Directors of AMREP Corporation (the “Company”) approved and awarded 6,000 restricted shares of common stock of the Company under the AMREP Corporation 2016 Equity Compensation Plan (the “Plan”) to Christopher V. Vitale, Executive Vice President, Chief Administrative Officer and General Counsel of the Company, and 3,000 restricted shares of common stock of the Company under the Plan to Rory Burke, President and Chief Executive Officer of the Company’s fulfillment services business operated by Palm Coast Data LLC. The awards of restricted shares of common stock will vest one-third on June 21, 2018, one-third on June 21, 2019 and one-third on June 21, 2020, subject to the continued employment of the officer on each vesting date.
About AMREP CORPORATION (NYSE:AXR)
Amrep Corporation is a holding company. The Company, through its subsidiaries, operates through two segments: real estate operations and fulfillment services. The Company conducts its real estate business through AMREP Southwest Inc. (AMREP Southwest) and its subsidiaries, with its activities occurring primarily in the City of Rio Rancho and certain adjoining areas of Sandoval County, New Mexico. The real estate operations include land sales and lease activities. Its fulfillment services is offered through its subsidiary Palm Coast Data LLC (Palm Coast) and its affiliates. Its fulfillment services business performs fulfillment and contact center services, including subscriber list and database management, payment and order processing and accounting, subscriber mailing services, customer service and contact center management, data processing and business intelligence solutions, print and digital marketing solutions, and product fulfillment warehousing, processing and distribution.
