Preferred Apartment Communities, Inc. (NYSE:APTS) 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
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Apartment Communities, Inc. (the “Company”) approved certain
compensation arrangements for non-employee directors, which
include grants of shares of restricted common stock. On May 4,
2017, the Compensation Committee of the Board of Directors
approved grants of 4,068 shares of restricted common stock for
each non-employee director consistent with the terms of the
Companys 2011 Stock Incentive Plan to each of the following
non-employee directors of the Company: Steve Bartkowski, Gary B.
Coursey, William J. Gresham, Jr., Howard A. McLure, Timothy A.
Peterson and John M. Wiens. The shares of restricted common stock
will vest in equal amounts on the following dates: August 2,
2017, October 31, 2017, January 29, 2018 and April 29, 2018. The
Board also approved the payment of cash compensation of $20,000
for the Chair of the Audit Committee of the Company, Timothy A.
Peterson; $10,000 for the Chair of the Compensation Committee of
the Company, Gary B. Coursey; $10,000 for the Chair of the
Nominating and Corporate Governance Committee of the Company,
Steve Bartkowski; and $10,000 for the Chair of the Conflicts
Committee of the Company, Howard A. McLure. The foregoing summary
of the restricted common stock grants is qualified in its
entirety by reference to the form of the Restricted Stock
Agreement, filed as an exhibit hereto and incorporated by
reference herein.
Georgia for the purpose of: (i) electing nine directors to serve
on the Board until the 2018 Annual Meeting of Stockholders; and
(ii) ratifying the appointment of PricewaterhouseCoopers LLP as
the Companys independent registered public accounting firm for
the fiscal year ending December 31, 2017. As of the record date,
March 15, 2017 there were 27,133,944 shares of Common Stock
entitled to vote at the Annual Meeting. Represented at the
meeting in person or by proxy were 24,169,593 shares of Common
Stock representing approximately 89.1% of the total shares of
Common Stock entitled to vote at the meeting.
Company:
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Nominee
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For
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Withheld
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Broker Non-Votes
|
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John A. Williams
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11,714,119
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377,039
|
12,078,435
|
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Leonard A. Silverstein
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11,218,454
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872,704
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12,078,435
|
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Daniel M. DuPree
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11,217,620
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873,538
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12,078,435
|
|
Steve Bartkowski
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8,462,579
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3,628,579
|
12,078,435
|
|
Gary B. Coursey
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8,762,791
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3,328,367
|
12,078,435
|
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William J. Gresham, Jr.
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11,702,449
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388,709
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12,078,435
|
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Howard A. McLure
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11,723,286
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367,872
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12,078,435
|
|
Timothy A. Peterson
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8,777,842
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3,313,316
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12,078,435
|
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John M. Wiens
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11,718,055
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373,103
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12,078,435
|
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(2)
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The stockholders ratified PricewaterhouseCoopers LLP as the
independent registered public accounting firm for the Company for 2017: |
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For
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23,690,625
|
|
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Against
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369,903
|
|
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Abstain
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109,065
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Companys Proxy Statement.
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10.1
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Form of Restricted Stock Agreement to the Preferred
Apartment Communities, Inc. 2011 Stock Incentive Plan (incorporated by reference to Exhibit 10.9 to Pre-effective Amendment No. 6 to Form S-11 Registration Statement (Registration No. 333-168407) filed by the Company with the Securities and Exchange Commission on March 4, 2011) |
About Preferred Apartment Communities, Inc. (NYSE:APTS)
Preferred Apartment Communities, Inc. is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate multifamily properties in select-targeted markets throughout the United States. It operates through three segments: multifamily communities, retail and real estate related financing. The multifamily communities segment consists of owned residential multifamily communities. It owns approximately 20 multifamily communities with a total of over 6,140 units in over eight states. The retail segment consists of owned grocery-anchored shopping centers. The Company owns over 31 grocery-anchored centers across over seven Sunbelt states. It owns Champions Village, a Randalls-anchored shopping center. The financing segment consists of a portfolio of real estate loans, bridge loans and other financial instruments, which partially finance the development, construction and prestabilization carrying costs of multifamily communities and other real estate assets. Preferred Apartment Communities, Inc. (NYSE:APTS) Recent Trading Information
Preferred Apartment Communities, Inc. (NYSE:APTS) closed its last trading session up +0.47 at 15.22 with 245,280 shares trading hands.
