8-K filed September 14, 2021, 7:59 PM ET ticker CDR-PB CIK 0000761648

leadership confidence high sentiment neutral materiality 0.60

Cedar Realty appoints Jennifer Bitterman CFO; extends revolver to $185M and $50M term loan

CEDAR REALTY TRUST, INC.

Jennifer Bitterman named EVP and CFO effective Sept 9, 2021; succeeds Philip Mays who departs for other opportunity.
Mays receives $285K cash severance (75% of target bonus) and 50% accelerated vesting of time-based equity awards.
Bitterman's compensation: $325K base salary, 90% target bonus, $325K annual LTI; severance of 200% of salary plus target bonus.
Revolving credit facility amended to $185M, maturing Aug 30, 2024, with two one-year extension options.
$50M term loan extended to Aug 30, 2026; pricing grid tied to leverage ratio.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Philip Mays

Executive Vice President and Chief Financial Officer

CDR-PB · CEDAR REALTY TRUST, INC.

Effective: 2021-09-09
Successor: Jennifer Bitterman
Filed: September 14, 2021, 7:59 PM ET

Philip Mays will step down as Executive Vice President and Chief Financial Officer of the Company, effective immediately, to pursue another business opportunity.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Philip Mays departed as Executive Vice President and Chief Financial Officer at CEDAR REALTY TRUST, INC..

Action: step down
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

Philip Mays will step down as Executive Vice President and Chief Financial Officer of the Company, effective immediately, to pursue another business opportunity.

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CEDAR REALTY TRUST, INC. filing history →

Source: SEC EDGAR

accession 0001193125-21-271880

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