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 OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
5.02(e): On February 27, 2018, the Compensation Committee of the Board of Trustees (the "Committee") of Ramco-Gershenson Properties Trust (the "Trust") approved the adoption of the 2018 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 funds from operations per share, non-anchor leased occupancy at year-end, and management investment committee yield, 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.
Threshold payout (50% of target incentive), target payout (50% of 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 funds from operations per share metric, the non-anchor leased occupancy at year-end metric, and the management investment committee yield metric shall account for 80%, 10% and 10% of the potential award, respectively.
The foregoing description is qualified in its entirety by the 2018 Executive Incentive Plan attached as Exhibit 10.1 hereto, which is hereby incorporated by reference.
Item 9.01Exhibits.
10.1 2018 Executive Incentive Plan dated February27, 2018
RAMCO GERSHENSON PROPERTIES TRUST ExhibitEX-10.1 2 a101incentiveplan.htm EXHIBIT 10.1 Exhibit Exhibit 10.1Ramco-Gershenson Properties Trust2018 Executive Incentive PlanFor 2018,…To view the full exhibit click here
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.