secwatch.observer — SEC 8-K summary
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Issuer:     CEDAR REALTY TRUST, INC. (CDR-PB)
CIK:        0000761648
Form:       8-K
Filed at:   2021-09-14T23:59:59+00:00
Accession:  0001193125-21-271880
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/761648/000119312521271880/0001193125-21-271880-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/761648/000119312521271880/d226135d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-271880

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