Douglas Emmett, Inc. (NYSE:DEI) 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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Douglas Emmett, Inc. (NYSE:DEI) 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.

At its meeting on December 8, 2016, the Board of Directors of
Douglas Emmett approved a new Partnership Unit Designation and
related award agreements for future grants of Long Term Incentive
Plan Units (LTIP Units) under the Companys new 2016 Omnibus Stock
Incentive Plan. The Partnership Unit Designation is the same as
the prior LTIP Unit Partnership Unit Designation, except that the
new Partnership Unit Designation provides the Company with the
ability to require a minimum increase in Gross Assets Value of
the Company before the LTIPs may be converted into a Partnership
Common Units (which are ultimately exchangeable into Common
Stock).
The Company also awarded LTIPs and cash incentive compensation to
its employees and directors effective December 9, 2016 for their
performance during 2016. These LTIP grants and cash compensation
awards to executive officers were materially consistent with LTIP
and cash awards for prior years, except that (i) the LTIP grants
include conditions that each LTIP can be converted into a
Partnership Common Unit (which is ultimately exchangeable into
Common Stock) only after at least a 2% increase in Gross Asset
Values and that any LTIP Units not converted into Partnership
Common Units within 10 years of the Grant Date will be forfeited
and (ii) Kevin Crummy received a one-time grant of LTIP Units
valued at $700,000 in accordance with ASC 718, vesting one fifth
on each of December 31, 2016, 2017, 2018, 2019 and 2020.
The forms of the Douglas Emmett Properties, LP Partnership Unit
Designation and the related Douglas Emmett, Inc. 2016 Omnibus
Stock Incentive Plan 2016 LTIP Unit Award Agreement are attached
hereto as Exhibits 99.1 and 99.2 of this Current Report on Form
8-K, respectively, and are incorporated herein by reference.
Item 9. Financial Statements and Exhibits.
(d) Exhibits: The following exhibits are filed with this Current
Report on Form 8-K:
Exhibit No.
Exhibit
99.1
Form of Douglas Emmett Properties, LP Partnership Unit
Designation Agreement.
99.2
Form of Douglas Emmett, Inc. 2016 Omnibus Stock
Incentive Plan 2016 LTIP Unit Award Agreement.


About Douglas Emmett, Inc. (NYSE:DEI)

Douglas Emmett, Inc. is a self-administered and self-managed real estate investment trust. The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate. The services for its office segment include primarily rental of office space and other tenant services, including parking and storage space rental. The services for its multifamily segment include primarily rental of apartments and other tenant services, including parking and storage space rental. It focuses on owning, acquiring developing and managing a substantial share of office properties and multifamily communities in neighborhoods.

Douglas Emmett, Inc. (NYSE:DEI) Recent Trading Information

Douglas Emmett, Inc. (NYSE:DEI) closed its last trading session down -0.81 at 37.50 with 785,925 shares trading hands.