secwatch.observer — SEC 8-K summary
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Issuer:     EXPONENT INC (EXPO)
CIK:        0000851520
Form:       8-K
Filed at:   2024-06-24T23:59:59+00:00
Accession:  0000950170-24-076817
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Exponent extends Arizona lease to 2043; annual rent rises to $6.2M from $1M
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- Lease extension for 15 years starting Jan 17, 2028 through Jan 16, 2043.
- Current annual rent of $1,009,000 holds until Jan 16, 2028; then jumps to $6,183,325 per year.
- Rent adjusted every 5 years based on CPI, with first adjustment in 2033.
- Lessee retains right to remove vertical improvements; no additional rent for improvements during extension.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/851520/000095017024076817/0000950170-24-076817-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/851520/000095017024076817/expo-20240619.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-076817

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