TIER REIT, Inc. (NYSE:TIER) 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.
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
TIER REIT, Inc. (the Company) voted to increase the size of the
Board from seven to eight members and appointed Gregory J. Whyte
to fill the vacancy created thereby. Mr. Whyte was not elected to
any arrangement or understanding between himself and any other
person, and the Board determined that Mr. Whyte qualifies as an
independent director to the rules of the New York Stock Exchange.
granted restricted stock units with a value of approximately
$15,000 based on the closing stock price of the Companys common
stock as of February 27, 2017. Such restricted stock units vest
13 months after the grant date.
knowledge and experience since 1987, as both an equity research
analyst and, more recently, in investment banking. From 2007
until 2016, Mr. Whyte was Senior Advisor in the Real Estate
Leisure and Lodging Investment Banking group at UBS Securities.
Prior to that, he was a Managing Director, Global Head of Real
Estate Equity Research at Morgan Stanley from 1991 to 2006, and
was consistently named to the annual Institutional Investor
All-America Research Team and Greenwich Associates Research Poll.
From 1988 to 1990, Mr. Whyte was a senior research analyst at
Lehman Brothers, and from 1984 to 1987, he worked for UAL
Merchant Bank in South Africa. He received a Bachelor of
Commerce, Business Finance from the University of Natal in 1982,
and an Honours Degree, Advanced Business Finance from the
University of Natal in 1983. He has been a member of the National
Association of Real Estate Investment Trusts (NAREIT) since 1988.
respect to the appointment of Gregory J. Whyte to the Board, as
well as the intent of G. Ronald Witten to not stand for
re-election as a director at the Companys 2017 Annual Meeting of
Stockholders. A copy of the press release is attached as Exhibit
99.1 to this Current Report on Form 8-K and incorporated by
reference herein.
being furnished to Item 7.01 of Form 8-K and shall not be deemed
filed for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the Exchange Act), or otherwise subject to
the liabilities of that section, nor shall the information be
deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act.
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Exhibit No.
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Description
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99.1
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Press Release, dated February 27, 2017
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About TIER REIT, Inc. (NYSE:TIER)
TIER REIT, Inc. is a self-managed real estate investment trust. The Company is engaged in acquiring, developing and operating a portfolio of office properties in certain markets of the United States. The Company’s business is primarily conducted through Tier Operating Partnership LP. The Company holds interests in approximately 30 operating office properties, over two non-operating properties and a development property located in approximately 20 markets across the United States. The Company owns properties located in metropolitan cities and suburban markets in the United States. The Company’s properties include The Terrace Office Park, Domain 3 and Domain 4 in Austin, Texas; 5950 Sherry Lane in Dallas, Texas; Loop Central, One BriarLake Plaza and Two BriarLake Plaza in Houston, Texas; Eisenhower I in Tampa, Florida; Bank of America Plaza in Charlotte, North Carolina, and Woodcrest Corporate Center and 111 Woodcrest in Cherry Hill, New Jersey. TIER REIT, Inc. (NYSE:TIER) Recent Trading Information
TIER REIT, Inc. (NYSE:TIER) closed its last trading session down -0.01 at 18.36 with 144,176 shares trading hands.
