RAMCO-GERSHENSON PROPERTIES TRUST (NYSE:RPT) 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.
of Trustees (the “Committee”) of Ramco-Gershenson Properties
Trust (the “Trust”) approved the adoption of the 2017 Executive
Incentive Plan for the Trust’s chief executive officer (the
“CEO”), chief operating officer (the “COO”) and the chief
financial officer (the “CFO”). The individuals will participate
in a short-term incentive program, based on the achievement of
operating funds from operations per share, property acquisition and
property disposition targets, subject to the Trust’s achievement
of a ratio of net debt to adjusted EBITDA below a specified
threshold. The CEO will have a target short-term incentive
opportunity equal to 125% of base salary, while the COO and CFO
will each have a target opportunity equal to 75% of base salary.
target incentive) and maximum payout (200% of target incentive)
will be determined by the Committee based on its assessment of the
achievement of these performance goals. The operating funds from
operations per share metric, the property acquisition metric and
the property disposition metric shall account for 80%, 10% and 10%
of the potential award, respectively.
Executive Incentive Plan attached as Exhibit 10.1 hereto, which is
hereby incorporated by reference.
About RAMCO-GERSHENSON PROPERTIES TRUST>> (NYSE:RPT)
Ramco-Gershenson Properties Trust is an integrated real estate investment trust. The Company’s primary business is the ownership and management of multi-anchored shopping centers primarily in approximately 10 metropolitan markets in the United States. The Company’s property portfolio includes approximately 70 shopping centers and an office building comprising approximately 15.3 million square feet. The Company primarily conducts its business through its operating partnership, Ramco-Gershenson Properties, L.P. The Company’s properties include Crofton Centre in Maryland; Clinton Pointe, Clinton Valley, Gaines Marketplace, Livonia Plaza, Hoover Eleven and Jackson West in Michigan; Woodbury Lakes in Minnesota; Central Plaza, Deer Creek Shopping Center and Heritage Place in Missouri; Bridgewater Falls, Olentangy Plaza and Rossford Pointe in Ohio, and East Town Plaza, Nagawaukee Center and West Allis Towne Centre in Wisconsin. RAMCO-GERSHENSON PROPERTIES TRUST>> (NYSE:RPT) Recent Trading Information
RAMCO-GERSHENSON PROPERTIES TRUST>> (NYSE:RPT) closed its last trading session down -0.11 at 13.76 with 1,067,230 shares trading hands.