SUN COMMUNITIES, INC. (NYSE:SUI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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SUN COMMUNITIES, INC. (NYSE:SUI) 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 Arrangement of Certain Officers.

Effective July 20, 2017, the Board of Directors (the “Board”) of Sun Communities, Inc. (the “Company”), appointed Ms. Meghan G. Baivier to serve as a director of the Company until the annual meeting of the Company’s stockholders to be held in 2018 and until her successor is elected and qualifies. In addition, Ms. Baivier has been appointed to the Audit Committee of the Board.

The Company entered into an indemnification agreement with Ms. Baivier on the same terms as the indemnification agreements with the Company’s other executive officers and directors. Under the terms of this agreement, the Company has agreed (subject to certain exclusions), to hold harmless and indemnify Ms. Baivier against any and all expenses, judgments, penalties, fines and amounts paid in settlement, actually and reasonably incurred by her in connection with any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative to which she is, was or at any time becomes a party, or is threatened to be made a party, by reason of the fact that she is, was or at any time becomes a director, officer, partner, trustee, employee or agent of the Company, or is or was serving or at any time serves at the request of the Company as director, officer, partner, trustee, employee or agent of another corporation, partnership, joint venture, trust or other enterprise (including, without limitation, employee benefit plans), to the fullest extent authorized and permitted by applicable law on the date of such agreement and to such greater extent as applicable law may thereafter permit.

In addition, the indemnification agreement provides that the Company will make an advance payment of expenses to Ms. Baivier in order to cover a claim relating to any fact or occurrence arising from or relating to events or occurrences specified in the prior paragraph, subject to receipt of an undertaking by or on behalf of Ms. Baivier to repay such amount if it shall ultimately be determined that she is not entitled to be indemnified by the Company as authorized under the agreement.

Ms. Baivier, age 37, serves as Executive Vice President, Chief Financial Officer and Chief Operating Officer of Easterly Government Properties, Inc. (“Easterly”). Ms. Baivier has served as Executive Vice President and Chief Operating Officer since joining Easterly in May 2015 and as Easterly’s Chief Financial Officer since March 2016. Prior to joining Easterly, Ms. Baivier served as Vice President of Citigroup’s Real Estate and Lodging Investment Banking group, from August 2010 to April 2015, where she was involved in a wide range of financial advisory and capital markets transactions. From March 2005 to June 2007, Ms. Baivier was an Equity Research Associate with Chilton Investment Co. Ms. Baivier was also previously employed by Fidelity Management and Research as a High Yield Research Associate from September 2001 to February 2005. Ms. Baivier earned her MBA from Columbia Business School where she was awarded the prestigious Feldberg Fellowship and her BA from Wellesley College.

There is no agreement or understanding between Ms. Baivier and any other person to which she was appointed to the Board.


About SUN COMMUNITIES, INC. (NYSE:SUI)

Sun Communities, Inc. (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities. Real Property Operations include several home options of various sizes and designs and consist of MH communities and RV communities. The Home Sales and Rentals segment offers manufactured home sales and leasing services to tenants and prospective tenants of its communities. It is engaged in the marketing, selling and leasing of new and pre-owned homes to residents in its communities. It has regional property management offices located in Austin, Texas; Dayton, Ohio; Grand Rapids, Michigan; Traverse City, Michigan; Ft. Myers, Florida, and Orlando, Florida.