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

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.
On March 31, 2017, the Compensation Committee of the Board of Trustees of Ramco-Gershenson Properties Trust (the “Trust”) notified Dennis Gershenson, the President and Chief Executive Officer of the Trust, that the Trust elected that Mr. Gershenson’s employment agreement dated August 1, 2007, not renew for an additional one year term on August 1, 2017. On April 6, 2017, the Trust and Mr. Gershenson entered into a new employment agreement (the “Agreement”). These actions were taken as part of the Board of Trustees’ efforts to promote an orderly transition of leadership of the Trust.
The Agreement provides for a term beginning as of April 1, 2017 and expiring December 31, 2020. Under the Agreement, Mr. Gershenson will serve as the Trust’s chief executive officer or executive chairman or in another executive capacity, as determined by the Board of Trustees of the Trust. Mr. Gershenson will be paid his current annual base salary of $731,300, will receive an annual award under the Trust’s short-term incentive plan with a target value equal to 125% of his base salary and will receive one-time grants of 5,000 restricted shares of common stock of the Trust on the date of the Agreement and 100,000 restricted shares of common stock of the Trust on January 2, 2018, such shares to vest on December 31, 2020 or earlier upon Mr. Gershenson’s termination of employment due to death, disability, for Good Reason (as defined in the Agreement) or by the Trust not for Cause (as defined in the Agreement). Mr. Gershenson will not be eligible to participate in the Trust’s long term incentive plan. In the event of the termination of Mr. Gershenson’s employment for Good Reason or by the Trust not for Cause, whether or not following a change in control, Mr. Gershenson will be entitled to receive his base salary and target short term incentive award for the period through December 31, 2020. The Agreement also provides for a two year noncompetition covenant following the termination of Mr. Gershenson’s employment.
The forgoing does not constitute a complete summary of the terms of the Agreement and reference is made to the complete form of the Agreement that is attached as Exhibit 10.1 to this report and hereby incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
10.1 Employment Agreement, dated April 6, 2017, between Ramco-Gershenson Properties Trust and Dennis
Gershenson

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 up +0.01 at 13.95 with 747,211 shares trading hands.

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