FIRST POTOMAC REALTY TRUST (NYSE:FPO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
FIRST POTOMAC REALTY TRUST (NYSE:FPO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On March 21, 2017, Richard B. Chess and Alan G. Merteninformed the Board of Trustees (the “Board”) of First Potomac Realty Trust (the “Company”) that they intend to retire from the Board, and from their respective positions on committees of the Board, upon expiration of their current terms as trustees, which will expire at the upcoming 2017 annual meeting of shareholders (the “2017 Annual Meeting”). Neither resignation involved a disagreement with the Company on any matter relating to the Company’s operations, policies or practices. With respect to Dr. Merten, he exceeds the age limit for trustees as set forth in the Company’s Governance Guidelines, which provide that no trustee may be nominated to a new term if he or she would be age 75 or older at the time of the election.
Mr. Chess and Dr. Merten have served with distinction as trustees of the Company since its initial public offering in 2003 and since October 2005, respectively. In addition, Mr. Chess served as a director of the Company’s predecessor from 1997 until the initial public offering in 2003, marking over 20 years of service in the aggregate.
In connection with the resignations from the Board, the Board approved a reduction in the size of the board from eight to six trustees to Article II, Section 2.1 of the Company’s Declaration of Trust and Article III, Section 2 of the Company’s Second Amended and Restated Bylaws, effective immediately prior to the 2017 Annual Meeting.
About FIRST POTOMAC REALTY TRUST (NYSE:FPO)
First Potomac Realty Trust is engaged in the ownership, management, development and redevelopment of office and business park properties in the greater Washington, D.C. region. The Company’s segments include Washington, D.C., Maryland, Northern Virginia and Southern Virginia. It conducts its business through First Potomac Realty Investment Limited Partnership, the Company’s operating partnership (the Operating Partnership). The Company is the sole general partner of, and owns the preferred interest and approximately 95.7% of the common interest in the Operating Partnership. The Company’s portfolio consist a mix of single-tenant and multi-tenant office properties and business parks. The office properties are single-story and multi-story buildings that are primarily for office uses, and business parks consists of buildings with office features combined with some industrial property space. It also owns land that can support approximately 1.3 million square feet of additional development. FIRST POTOMAC REALTY TRUST (NYSE:FPO) Recent Trading Information
FIRST POTOMAC REALTY TRUST (NYSE:FPO) closed its last trading session 00.00 at 9.81 with 213,011 shares trading hands.
First Potomac Realty Trust is engaged in the ownership, management, development and redevelopment of office and business park properties in the greater Washington, D.C. region. The Company’s segments include Washington, D.C., Maryland, Northern Virginia and Southern Virginia. It conducts its business through First Potomac Realty Investment Limited Partnership, the Company’s operating partnership (the Operating Partnership). The Company is the sole general partner of, and owns the preferred interest and approximately 95.7% of the common interest in the Operating Partnership. The Company’s portfolio consist a mix of single-tenant and multi-tenant office properties and business parks. The office properties are single-story and multi-story buildings that are primarily for office uses, and business parks consists of buildings with office features combined with some industrial property space. It also owns land that can support approximately 1.3 million square feet of additional development. FIRST POTOMAC REALTY TRUST (NYSE:FPO) Recent Trading Information
FIRST POTOMAC REALTY TRUST (NYSE:FPO) closed its last trading session 00.00 at 9.81 with 213,011 shares trading hands.
