Appointment of New Trustee and Changes to Board Committees.

On February 7, 2020, the Board of Trustees (the “Board”) of Whitestone REIT (the “Company”) expanded the size of the Board to seven members and elected Jeff Jones as a new Class II trustee to serve until the 2020 annual meeting of shareholders or until his successor is duly elected and qualified or his earlier resignation or removal, with his service to begin immediately. Mr. Jones has been appointed to the Audit Committee of the Board and to the Compensation Committee of the Board. Mr. Jones has been determined by the Board to meet the “independence” standards of the New York Stock Exchange and the Securities and Exchange Commission (the “SEC”) and the “audit committee financial expert” standards of the SEC for service on the Audit Committee.

There were no arrangements or understandings between Mr. Jones and any person to which Mr. Jones was elected a trustee. Mr. Jones will receive the same compensation as the other non-employee members of the Board. A description of the compensation payable to the Company’s trustees was included in the Company’s Proxy Statement filed with the SEC on April 4, 2019.

Mr. Jones, 63, has over 35 years of experience as an investment banker and restructuring advisor and is a managing director at Stephens Inc. He co-headed Blackhill Partners, an investment banking and restructuring firm, from 2011 through the firm’s acquisition from its founder and the firm’s subsequent sale to Stephens Inc. in 2018. Mr. Jones has served as a company director and has advised healthy and distressed companies, creditors and shareholders.

Item 7.01. Regulation FD Disclosure.

On February 13, 2020, the Company issued a press release announcing the appointment of Mr. Jones, which is furnished herewith as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Whitestone REIT Exhibit
EX-99.1 2 exhibit991.htm EXHIBIT 99.1 Exhibit Whitestone Adds Another Independent Member to the Board of Trustees,…
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About Whitestone REIT (NYSE:WSR)

Whitestone REIT is a real estate investment trust. The Company owns, manages and redevelops retail properties, which are referred to as Community Centered Properties. As of June 30, 2016, the Company owned and operated 69 commercial properties consisting of 47 retail properties containing approximately 4.1 million square feet of gross leasable area; four office properties containing approximately 0.5 million square feet of gross leasable area, and 10 office/flex properties containing approximately 1.1 million square feet of gross leasable area. As of June 30, 2016, its redevelopment portfolio included two retail properties containing approximately 0.1 million square feet of gross leasable area and six parcels of land held for future development. The Company’s properties include Gilbert Tuscany Village property, Quinlan Crossing, Davenport Village and City View Village. Its properties are principally located in Austin, Dallas-Fort Worth, Houston, San Antonio and Phoenix.