secwatch.observer — SEC 8-K summary
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Issuer:     SITE Centers Corp. (SITC)
CIK:        0000894315
Form:       8-K
Filed at:   2023-09-19T23:59:59+00:00
Accession:  0000950170-23-048773
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

SITE Centers enters new employment agreements with CFO Fennerty and CIO Cattonar through Sept 2026
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- Base salary at least $600K (Fennerty) and $500K (Cattonar); annual bonus target 100% of base.
- Initial equity grants: $400K in ratable RSUs (4-yr vest) and $600K in cliff RSUs (5-yr vest).
- Annual equity awards in 2024-2026: RSUs ($250K/$150K) and PRSUs ($600K target per year).
- Non-change-in-control severance: 1.5x base + average bonus; change-in-control: 2.5x base + average bonus.
- Agreements effective Sept 15, 2023, supersede prior contracts; term ends Sept 30, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/894315/000095017023048773/0000950170-23-048773-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/894315/000095017023048773/sitc-20230915.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-048773

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