secwatch.observer — SEC 8-K summary
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Issuer:     UDR, Inc. (UDR)
CIK:        0000074208
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0000074208-24-000014
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UDR enters new 5-year Executive Agreement with CEO Toomey; base $900K, bonus target $2.1M, LTI target $7M
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- Base salary of $900,000, subject to annual review and potential increase by Compensation Committee.
- Target annual bonus set at $2,100,000, with actual amount based on personal and company performance goals.
- Target long-term incentive award of $7,000,000, also performance-based; part of annual grant process.
- Agreement has a five-year term through February 2029 unless earlier terminated.
- Severance on termination without cause or for good reason: 3x (base salary + target bonus), plus pro-rata bonus and continued health benefits until age 75.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/74208/000007420824000014/0000074208-24-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/74208/000007420824000014/udr-20240215x8k.htm
  HTML page:      https://secwatch.observer/filing/0000074208-24-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer