8-K
filed July 18, 2023, 7:59 PM ET
CIK 0001310383
leadership
confidence high
sentiment negative
materiality 0.80
Summit Healthcare REIT terminates CEO for cause, appoints Pagliarini as CEO and Grant as CFO
Summit Healthcare REIT, Inc
- CEO Kent Eikanas terminated for cause on July 14, 2023, after failing to cure performance deficiencies; he filed a wrongful termination claim on June 5, 2023.
- Elizabeth Pagliarini, previously CFO/COO, appointed CEO and Secretary effective July 15, 2023, and added to the Board.
- Sharyn Grant, previously Controller, appointed CFO effective July 15, 2023, with base salary of $250,000 and potential bonus up to $30,000.
- Termination for cause means Eikanas receives accrued compensation but no severance; his employment agreement is on file.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Elizabeth Pagliarini was appointed as Chief Executive Officer and Secretary at Summit Healthcare REIT, Inc.
- Action
- appointed
- Role
- Chief Executive Officer and Secretary
Exact text from the filing
appointed Elizabeth Pagliarini, age 52, the current Chief Financial Officer and Chief Operating Officer of the Company since 2014 and 2019, respectively, as Chief Executive Officer and Secretary.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Elizabeth Pagliarini was appointed as Director at Summit Healthcare REIT, Inc.
- Action
- appointed
- Role
- Director
Exact text from the filing
Ms. Pagliarini was also appointed to fill the vacancy on the Board of Directors created by Mr. Eikanas’ resignation.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kent Eikanas departed as Chief Executive Officer and Secretary at Summit Healthcare REIT, Inc.
- Action
- terminated for cause
- Role
- Chief Executive Officer and Secretary
Exact text from the filing
terminated, for cause, Kent Eikanas from his position as Chief Executive Officer and Secretary of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sharyn Grant was appointed as Chief Financial Officer at Summit Healthcare REIT, Inc.
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
the Board of Directors of the Company also appointed Sharyn Grant, CPA, age 61, Chief Financial Officer of the Company.
View on SEC.gov
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