Cedar Realty: COO resigns; multiple lawsuits seek to block pending asset-sale/merger transactions
CEDAR REALTY TRUST, INC.
COO Robin McBride Zeigler resigned May 6; retains vested equity, forfeits unvested; gets consulting agreement for $3M upfront plus $750k contingent.
Chairman Gregg Gonsalves receives $100k transaction bonus contingent on closing of asset-sale/merger.
Five stockholder lawsuits filed in NY/PA federal courts alleging proxy omissions; two preferred stock class actions (Sydney, Kim) filed.
Sydney plaintiffs moved for preliminary injunction to enjoin merger with Wheeler and distribution to common shareholders; hearing requested before May 27 stockholder vote.
Company denies allegations but litigation could delay or block the Transactions.
On May 6, 2022, Cedar Realty Trust, Inc. (the “Company” or “CDR”) entered into a separation agreement and release (the “Release”) with Robin McBride Zeigler, Senior Executive Vice President and Chief Operating Officer of the Company, pursuant to which Ms. Zeigler resigned from her position with the Company effective as of May 6, 2022.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 1.0
Robin McBride Zeigler resigned as Senior Executive Vice President and Chief Operating Officer at CEDAR REALTY TRUST, INC..
Action
resigned
Role
Senior Executive Vice President and Chief Operating Officer
Exact text from the filing
On May 6, 2022, Cedar Realty Trust, Inc. (the “Company” or “CDR”) entered into a separation agreement and release (the “Release”) with Robin McBride Zeigler, Senior Executive Vice President and Chief Operating Officer of the Company, pursuant to which Ms. Zeigler resigned from her position with the Company effective as of May 6, 2022.
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