secwatch.observer — SEC 8-K summary
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Issuer:     Seritage Growth Properties (SRG)
CIK:        0001628063
Form:       8-K
Filed at:   2025-07-01T23:59:59+00:00
Accession:  0000895345-25-000218
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Seritage appoints Adam Metz as non-interim CEO; $1.1M salary, $1.225M target bonus
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- Adam Metz appointed as CEO on non-interim basis effective July 1, 2025; continues as Board Chairman; M. Sabshon remains Lead Independent Trustee.
- Employment agreement: $1.1M base salary, $1.225M target bonus (50-150% payout range), one-year term ending June 30, 2026, no severance.
- Replaces interim CEO letter agreement from April 2025; term ends June 30, 2026 unless extended by mutual agreement by April 1, 2026.
- Mr. Metz previously served as CEO of General Growth Properties and Managing Director at Carlyle Group; also holds board seats at Hammerson plc and Morgan Stanley Direct Lending Fund.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1628063/000089534525000218/0000895345-25-000218-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1628063/000089534525000218/ff5020275_8k-seritage.htm
  HTML page:      https://secwatch.observer/filing/0000895345-25-000218

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