PS BUSINESS PARKS, INC. (NYSE:PSB-S.CL) 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

On August 14,2017, Edward A. Stokx, Executive Vice President, Chief Financial Officer and Secretary (principal financial officer and principal accounting officer) of PS Business Parks, Inc. (the “Company”), resigned from his position with the Company effective August31,2017. In connection with Mr.Stokx’s resignation, the Company and Mr.Stokx entered into a Separation Agreement and General Release, dated August14,2017 (the “Agreement”), to which Mr.Stokx will receive $1.5million in severance, less applicable withholdings. The Agreement also contains other terms and conditions customary for an agreement of this nature, including confidentiality and non-solicitation covenants and a general release. The Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Until the Company appoints a successor to Mr.Stokx, Maria R. Hawthorne, the Company’s President and Chief Executive Officer, will act as the Company’s principal financial officer and principal accounting officer.

Item 5.02.Financial Statements and Exhibits

(d) Exhibits

Exhibit 10.1:Separation Agreement and General Release, dated August14,2017, by and between the Company and Edward A. Stokx.

PS BUSINESS PARKS INC/CA Exhibit
EX-10.1 2 d436541dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 SEPARATION AGREEMENT AND GENERAL RELEASE 1. Parties. The parties to this Employment Agreement and General Release (“Agreement”) are:     A. Edward A. Stokx (“Employee”).     B. PS Business Parks,…
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