FORESTAR GROUP INC. (NYSE:FOR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
Form 8-K with respect to the Credit Agreement (as defined herein)
is hereby incorporated into this Item 1.01 by reference.
Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
option to extend the maturity date of its Third Amended and
Restated Revolving Credit Agreement with KeyBank National
Association and other financial institutions party thereto (as
amended, the Credit Agreement) by one year to May 15, 2018.
Credit Agreement. The purpose of the amendment was to: (a) reduce
the available revolving commitment from $125,000,000 to
$50,000,000, and (b) conform the letters of credit sublimit to the
reduced revolving commitment of $50,000,000. A copy of the
amendment is attached hereto as Exhibit 10.1 and incorporated
herein by reference.
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Principal Accounting Officer and Vice President – Accounting, will
retire effective June 30, 2017. Upon Ms. Reddys retirement, the
responsibilities of Principal Accounting Officer will be assumed by
Charles D. Jehl, Chief Financial Officer of the Company.
stockholders. Below are the voting results.
directors:
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Name
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For
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Withheld
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Broker Non-Votes
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M. Ashton Hudson
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34,113,381
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1,784,726
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2,358,966
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Richard M. Smith
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30,611,143
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5,286,964
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2,358,966
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Phillip J. Weber
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34,955,795
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942,312
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2,358,966
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For:
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28,138,883
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Against:
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7,553,000
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Abstain:
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206,224
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Broker Non-Votes:
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2,358,966
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executive compensation. Every 1 Year was approved:
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1 Year:
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29,887,267
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2 Years:
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30,724
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3 Years:
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5,959,094
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Abstain:
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21,022
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the Company has determined that the Company will hold an advisory
vote on executive compensation every year
preservation plan:
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For:
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20,412,773
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Against:
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15,450,851
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Abstain:
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34,483
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Broker Non-Votes:
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2,358,966
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Company’s independent registered public accounting firm for
2017:
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For:
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37,483,203
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Against:
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742,916
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Abstain:
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30,954
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Broker Non-Votes:
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Exhibit No.
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Exhibit
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10.1
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Second Amendment to Third Amended and Restated Revolving
and Term Credit Agreement dated May 12, 2017, by and among the Company, Forestar (USA) Real Estate Group Inc. and certain of its wholly-owned subsidiaries signatory thereto; KeyBank National Association, as lender, swing line lender and agent; the lenders party thereto; and the other parties thereto. |
About FORESTAR GROUP INC. (NYSE:FOR)
Forestar Group Inc. is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties. Its Oil and Gas segment is an independent oil and gas exploration, development and production operation and manages its owned and leased mineral interests. Its Other Natural Resources segment manages its timber, recreational leases and water resource initiatives. The Company owns directly or through ventures interests in approximately 60 residential and mixed-use projects consisting of over 7,000 acres of real estate located in approximately 10 states and approximately 20 markets. FORESTAR GROUP INC. (NYSE:FOR) Recent Trading Information
FORESTAR GROUP INC. (NYSE:FOR) closed its last trading session 00.00 at 14.10 with 329,866 shares trading hands.