URSTADT BIDDLE PROPERTIES INC. (NYSE:UBA) 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 September 4, 2019, Willis H. Stephens, Jr. was appointed a member of the Board of Directors (the \”Board\”) of Urstadt Biddle Properties Inc. (\”Company\”) to fill a vacancy created by the recent passing of Mr. George Lawrence. Mr. Stephens will serve as a Class III director until the next annual meeting of stockholders in 2020, and will also serve on the Nominating and Corporate Governance Committee of the Board. to the Board\’s standard compensation policy for non-employee directors, Mr. Stephens will receive a $30,000 annual cash retainer payable quarterly in arrears, as well as $2,200 for each meeting of the Board or committee he attends in person and $1,100 for each meeting he attends by telephone. Each director is also annually awarded 1,200 restricted shares of common stock. Mr. Stephens, 63, is an attorney who has been in private practice for forty years with a concentration in real estate transactions, land use development and litigation. He has served as the Town Attorney for the Town of Southeast, New York since 2007, advising the town on, among other things, municipal, zoning, planning, labor and employment, land use, litigation and transactional matters. He has also been a member of The Stephens Law Firm, PLLC since 2006 and serves, among other things, as General Counsel for the United Cerebral Palsy Association of Putnam and Southern Dutchess Counties, Inc. Previously, he also served as a member of the New York State Assembly from January 1995 to December 2006. He currently serves on several philanthropic and non-profit boards, including as a charter member of the Executive Committee of the Southeast Rotary Club, a chapter of Rotary International. He was previously a Board Member of Citizens Environmental Research Institute and an Advisory Board Member for Trinity-Pawling School, a private preparatory school. There are no arrangements between Mr. Stephens and any other person to which Mr. Stephens was appointed as a director, nor are there any transactions to which the Company is or was a participant and in which Mr. Stephens has a material interest subject to disclosure under Item 404(a) of Regulation S-K. A copy of the press release announcing the appointment of Mr. Stephens to the board of directors of the Company is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
Press release dated September 4, 2019 is filed as Exhibit 99.1.