Butcher to step down as Executive Chairman June 30, 2023; Kimball appointed EVP Real Estate Operations

STAG Industrial, Inc.

Benjamin Butcher's role as Executive Chairman ends June 30, 2023; expected to continue as non-management director if re-elected.
Larry Guillemette, current Lead Independent Director, expected to become Chairman of the Board after annual meeting on April 25, 2023.
Steven Kimball appointed EVP – Real Estate Operations; joins from PGIM Real Estate, previously at Prologis for 26 years.
Kimball's employment agreement includes base salary $375,000, cash target bonus $375,000 for 2023, and equity grants worth ~$1.24M.
Severance for Kimball includes 2x base+bonus, 18 months health coverage, and accelerated equity vesting; 12-month non-compete clause.

item 5.02

Executive movements

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

Role change

Benjamin S. Butcher

non-management director

STAG · STAG Industrial, Inc.

Effective: 2023-06-30
Filed: March 16, 2023, 7:59 PM ET

On March 16, 2023, in connection with the successful completion of the Company’s management succession plan, the Board provided a notice of non-renewal to Mr. Butcher, whose role as Executive Chairman will end on June 30, 2023.

Appointed

Steven T. Kimball

Executive Vice President – Real Estate Operations

STAG · STAG Industrial, Inc.

Filed: March 16, 2023, 7:59 PM ET

On March 16, 2023, the Company announced that the Board appointed Steven T. Kimball as Executive Vice President – Real Estate Operations of the Company, effective when he commences employment (expected this spring).

Role change

Larry T. Guillemette

Chairman of the Board

STAG · STAG Industrial, Inc.

Effective: 2023-04-25
Filed: March 16, 2023, 7:59 PM ET

the Board expects that (i) Mr. Butcher will continue to serve on the Board as a non-management director, effective as of July 1, 2023 and (ii) Larry T. Guillemette, the Company’s current Lead Independent Director, will become the Chairman of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Benjamin S. Butcher changed role as non-management director at STAG Industrial, Inc..

Action: not renewed
Role: non-management director

Exact text from the filing

On March 16, 2023, in connection with the successful completion of the Company’s management succession plan, the Board provided a notice of non-renewal to Mr. Butcher, whose role as Executive Chairman will end on June 30, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steven T. Kimball was appointed as Executive Vice President – Real Estate Operations at STAG Industrial, Inc..

Action: appointed
Role: Executive Vice President – Real Estate Operations

Exact text from the filing

On March 16, 2023, the Company announced that the Board appointed Steven T. Kimball as Executive Vice President – Real Estate Operations of the Company, effective when he commences employment (expected this spring).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Larry T. Guillemette changed role as Chairman of the Board at STAG Industrial, Inc..

Action: named Chairman
Role: Chairman of the Board

Exact text from the filing

the Board expects that (i) Mr. Butcher will continue to serve on the Board as a non-management director, effective as of July 1, 2023 and (ii) Larry T. Guillemette, the Company’s current Lead Independent Director, will become the Chairman of the Board.

View on SEC.gov

STAG Industrial, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-033308

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