Alexander's completes sale of Rego Park III land parcel for $71M; expects $54M gain

ALEXANDERS INC

Sold Rego Park III land parcel in Queens, NY for $71 million, inclusive of Brownfield tax benefits and cost reimbursement.
Expects a financial statement gain of approximately $54 million from the sale.
Property comprises 670,000 buildable sq ft in an Opportunity Zone, vested for 421a Affordable Housing Program.
Shareholders re-elected three directors and recommended, via non-binding vote, an advisory vote on exec compensation every three years.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

ALEXANDERS INC shareholders approved Election of three nominees to serve on the Board of Directors for a three-year term and until their respective successors are duly elected. at the 2023-05-18 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-05-18

Exact text from the filing

Proposal 1 – Election of three nominees to serve on the Board of Directors for a three-year term and until their respective successors are duly elected. Nominee For Withheld Broker Non-Votes Thomas R. DiBenedetto 4,243,697 361,086 237,707 Mandakini Puri 4,398,042 206,741 237,707 Russell B. Wight, Jr. 4,145,552 459,231 237,707

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Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

ALEXANDERS INC shareholders approved Ratification of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year 2023. at the 2023-05-18 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2023-05-18

Exact text from the filing

Proposal 2 – Ratification of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year 2023. For Against Abstain Votes Cast 4,831,150 10,826 514

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Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

ALEXANDERS INC shareholders approved Non-binding advisory vote on the frequency of executive compensation advisory votes for our named executive officers. at the 2023-05-18 meeting.

Proposal: say on pay frequency
Outcome: passed
Meeting: 2023-05-18

Exact text from the filing

Proposal 4 – Non-binding advisory vote on the frequency of executive compensation advisory votes for our named executive officers. One Year Two Years Three Years Abstain Votes Cast 1,323,260 1,647 3,066,042 43,886

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Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

ALEXANDERS INC shareholders approved Non-binding advisory vote on executive compensation for our named executive officers. at the 2023-05-18 meeting.

Proposal: say on pay
Outcome: passed
Meeting: 2023-05-18

Exact text from the filing

Proposal 3 – Non-binding advisory vote on executive compensation paid to our named executive officers. For Against Abstain Broker Non-Votes Votes Cast 4,014,917 548,047 41,819 237,707

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ALEXANDERS INC filing history →

Source: SEC EDGAR

accession 0000003499-23-000021

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