Seritage launches strategic alternatives review; Chairman Lampert retires

Seritage Growth Properties

Board creates special committee to explore strategic alternatives; Barclays retained as advisor.
Edward Lampert retires as Chairman and from Board effective March 1, 2022; may pursue alternatives for his SRG stake.
Directors David Fawer and Thomas Steinberg will not seek reelection at 2022 annual meeting.
Company cites disconnect between stock price and asset value; portfolio of 170 properties.
Board searching for additional candidates with investment and transaction experience.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

David S. Fawer

member of the Board of Trustees

SRG · Seritage Growth Properties

Filed: March 1, 2022, 6:59 PM ET

each of Messrs. David S. Fawer and Thomas M. Steinberg, members of the Board, notified the Board that he would not stand for reelection as a trustee of the Company.

Departed

Edward S. Lampert

Chairman of the Board of Trustees

SRG · Seritage Growth Properties

Effective: 2022-03-01
Filed: March 1, 2022, 6:59 PM ET

Mr. Edward S. Lampert, the Chairman of the Company’s Board of Trustees (the “ Board ”), retired as Chairman and resigned from the Board effective March 1, 2022.

Departed

Thomas M. Steinberg

member of the Board of Trustees

SRG · Seritage Growth Properties

Filed: March 1, 2022, 6:59 PM ET

each of Messrs. David S. Fawer and Thomas M. Steinberg, members of the Board, notified the Board that he would not stand for reelection as a trustee of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David S. Fawer departed as member of the Board of Trustees at Seritage Growth Properties.

Action: notified that he would not stand for reelection as a trustee
Role: member of the Board of Trustees

Exact text from the filing

each of Messrs. David S. Fawer and Thomas M. Steinberg, members of the Board, notified the Board that he would not stand for reelection as a trustee of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Edward S. Lampert departed as Chairman of the Board of Trustees at Seritage Growth Properties.

Action: retired as Chairman and resigned from the Board
Role: Chairman of the Board of Trustees

Exact text from the filing

Mr. Edward S. Lampert, the Chairman of the Company’s Board of Trustees (the “ Board ”), retired as Chairman and resigned from the Board effective March 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas M. Steinberg departed as member of the Board of Trustees at Seritage Growth Properties.

Action: notified that he would not stand for reelection as a trustee
Role: member of the Board of Trustees

Exact text from the filing

each of Messrs. David S. Fawer and Thomas M. Steinberg, members of the Board, notified the Board that he would not stand for reelection as a trustee of the Company.

View on SEC.gov

Seritage Growth Properties filing history →

Source: SEC EDGAR

accession 0000895345-22-000247

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