secwatch.observer — SEC 8-K summary
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Issuer:     SITE Centers Corp. (SITC)
CIK:        0000894315
Form:       8-K
Filed at:   2024-07-22T23:59:59+00:00
Accession:  0000950170-24-085241
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

SITE Centers extends CEO David R. Lukes contract to March 2025, details post-spin Curbline pay
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- New employment agreement with CEO David R. Lukes extends current term to earlier of March 11, 2025 or spin-off completion.
- Post-spin, Lukes moves to Curbline with $50k base salary and $2.7M time-based LTIP unit grant.
- Annual cash incentive targets at Curbline: $500k threshold, $1M target, $2M maximum.
- One-time performance LTIP award target $7.2M, vesting based on TSR and other metrics over ~5 years.
- Severance: 2x ($800k plus avg bonus) for non-CIC; 3x for change-in-control within 2 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/894315/000095017024085241/0000950170-24-085241-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/894315/000095017024085241/sitc-20240718.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-085241

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