Silver Bay Realty Trust Corp. (NYSE:SBY) 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.
and Corporate Governance Committee, the Board of Directors (the
“Board”) of Silver Bay Realty Trust Corp. (the “Company”)
appointed Mark Weld to fill the open seat created by the prior
resignation of Ronald N. Weiser. Mr. Weld will stand for
reelection at the Company’s 2017 annual meeting of stockholders.
Mr. Weld has been appointed to the Compensation Committee and
Nominating and Corporate Governance Committee of the Board. The
Board has determined that Mr. Weld qualifies as an independent
director under the New York Stock Exchange (“NYSE”) rules.
estate investor, developer and manager throughout the United
States with a specific focus on both discretionary and
non-discretionary investment programs on behalf of major public
and private pension fund clients. For 20 years, Mr. Weld was an
equity partner and Managing Director at Clarion Partners,
directing its New England regional headquarters in Boston, in
addition to being responsible for all private market acquisition
activities in the area. He also served as portfolio manager on
behalf of a number of public and private pension fund clients
making and managing investments in all major property types and
markets throughout the United States totaling in excess of $10
billion. Prior to retiring from Clarion Partners in 2015, Mr.
Welds investment activity included high-rise, market dominant
office acquisitions and development projects in Houston, Seattle,
Washington DC and New York with an aggregate value in excess of
$3 billion. Mr. Weld also directed a portfolio of ten market
dominant regional malls throughout the country, including the
Natick Mall in suburban Boston, MA and the Glendale Galleria in
Glendale, CA. Mr. Weld was also a key member of the Clarion team
responsible for the 2015 acquisition of Gables Residential, a
private owner, developer and manager of over 30,000 apartment
units. Prior to joining Clarion Partners, Mr. Weld held senior
positions at three prominent real estate
owner/development/management firms, in each case directing the
acquisition, development and management of national portfolios.
He serves as a Director for the Boch Center (formerly the Citi
Performing Arts Center), a nonprofit innovator and steward of
iconic venues, providing arts, entertainment, cultural, and
educational experiences to a broad based constituency. Mr. Weld
is an honors graduate of Dartmouth College with a degree in
any other person to which he was selected as a member of the
Board and as of the date of his appointment, Mr. Weld has not
entered into or proposed to enter into any transactions required
to be reported under Item 404(a) of Regulation S-K. Mr. Weld will
receive compensation as a director consistent with the
compensation paid to non-employee directors of the Company, as
described in the Company’s proxy statement for the annual
meeting of stockholders held on May 17, 2016.
release announcing Mr. Weld’s appointment to the Board. A copy
of this press release is furnished, not filed, as Exhibit 99.1 to
this Current Report on Form 8-K.
Press Release dated January 5, 2017
About Silver Bay Realty Trust Corp. (NYSE:SBY)
Silver Bay Realty Trust Corp. is an internally managed real estate investment trust. The Company is focused on the acquisition, renovation, leasing and management of single-family properties in certain markets in the United States. The Company owns approximately 9,020 single-family properties in Arizona, California, Florida, Georgia, Nevada, North Carolina, Ohio, South Carolina and Texas. The Company conducts its business and owns its properties through Silver Bay Operating Partnership L.P. (the Operating Partnership). The Company’s properties are located in various markets, such as Atlanta, Phoenix, Tampa, Dallas, Orlando, Jacksonville, Las Vegas, Tucson, Southeast Florida, Northern California and Southern California. The Southeast Florida market consists of Miami-Dade, Broward and Palm Beach counties. The Northern California market consists of Contra Costa, Napa and Solano counties. The Southern California market consists of Riverside and San Bernardino counties. Silver Bay Realty Trust Corp. (NYSE:SBY) Recent Trading Information
Silver Bay Realty Trust Corp. (NYSE:SBY) closed its last trading session down -0.29 at 17.16 with 164,202 shares trading hands.