secwatch.observer — SEC 8-K summary
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Issuer:     UDR, Inc. (UDR)
CIK:        0000074208
Form:       8-K
Filed at:   2023-11-28T23:59:59+00:00
Accession:  0000074208-23-000073
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

CEO Toomey forfeits $7M performance equity award; Board plans new employment agreement
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- Thomas W. Toomey voluntarily forfeited Class 2 Performance LTIP Units worth $7M granted in Dec 2021.
- Award was performance-based with absolute stock price hurdles; hurdles not achieved.
- Board determined award no longer served long-term stockholder value creation objective.
- Board expects to enter into a mutually agreed employment agreement with Toomey in Q1 2024.
- No replacement supplemental equity award is planned by the Board.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/74208/000007420823000073/0000074208-23-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/74208/000007420823000073/udr-20231128x8k.htm
  HTML page:      https://secwatch.observer/filing/0000074208-23-000073

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