EXTENDED STAY AMERICA, INC. (NYSE:STAY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On April5, 2018, the Board of Directors (the “ESH Board”) of ESH Hospitality, Inc. (“ESH REIT”) elected Bruce Haase to the ESH Board.
As an independent director, Mr.Haase will be compensated for his position as a director in accordance with ESH REIT’s director compensation principles, which provide that each independent director receives an annual cash retainer of $90,000 and an annual equity retainer with a value of $100,000. In connection with his appointment to the ESH Board, ESH REIT’s Compensation Committee is expected to grant Mr.Haase restricted stock units representing paired shares, each paired share consisting of one share of common stock of Extended Stay America, Inc. that is attached to and trades as a single unit with one share of ClassB common stock of ESH REIT. This grant will represent a prorated portion of the annual $100,000 equity retainer due to Mr.Haase for the six-week term until our next annual meeting.
ESH REIT and Mr.Haase will enter into ESH REIT’s standard form of indemnification agreement for directors and officers, a copy of which was previously filed as Exhibit 10.27 to Amendment No.8 to the Registration Statement on Form S-1 (File No.333-190052) and is incorporated herein by reference.
A copy of the press release announcing Mr.Haase’s election to the ESH Board is attached hereto as Exhibit 99.1.
|Item 5.02||Financial Statements and Exhibits.|
|99.1||Press Release of ESH Hospitality, Inc., dated April9, 2018, announcing the election of Bruce Haase to the ESH Board.|
ESH Hospitality, Inc. ExhibitEX-99.1 2 d563639dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 ESH HOSPITALITY,…To view the full exhibit click