Condor Hospitality Trust, Inc. (NASDAQ:CDOR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 29, 2017, the Compensation Committee of the Board of
Directors of Condor Hospitality, Inc. (the “Company”)
established and approved 2017 incentive compensations plans for
four executive officers; J. William Blackham, President and Chief
Executive Officer, Jonathan Gantt, Senior Vice President and
Chief Financial Officer, Jeff Dougan, Senior Vice President and
Chief Operating Officer and Arinn Cavey, Chief Accounting
Officer. A target incentive was established for each executive
ranging from 25% to 150% of base salary, with a portion of the
incentive allocated to each executive’s individual performance
objective. The performance objectives consist of capitalization
growth, hotel management, hotel operational performance, hotel
acquisitions and dispositions, financing, staffing, achieving
analyst research coverage, and accounting, audit and regulatory
filings.

An executive must achieve the particular performance objectives
established for the executive to earn the portion of the
executive’s target incentive allocated to that performance
objective. Payout under the plans to an executive will be in cash
and/or equity (from shareholder approved employee benefit plans).
The Compensation Committee has discretion, including to make
partial awards, and to take into account events and circumstances
not contemplated when performance objectives were set.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits