Kilroy Realty formalizes CFO Trencher's employment; expands term loan $20M

KILROY REALTY CORP

Eliott Trencher appointed EVP, CFO and CIO effective Feb 1, 2023; employment agreement signed March 3, 2023.
Base salary not less than $500,000; target annual bonus minimum 100% of salary; eligible for equity awards.
Severance: 1x salary + 1x target bonus upon termination without cause or for good reason, plus COBRA up to 18 months.
Second amendment to term loan facility exercised accordion for additional $20M borrowing; total facility potential increased.
After amendment, $200M outstanding, $320M remaining commitments, $130M incremental capacity available.

item 1.01 item 2.03 item 5.02

Executive movements

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Appointed

Eliott Trencher

Executive Vice President, Chief Financial Officer and Chief Investment Officer

KRC · KILROY REALTY CORP

Effective: 2023-02-01
Filed: March 9, 2023, 6:59 PM ET

the Company’s Board of Directors (the “Board”) appointed Eliott Trencher as Executive Vice President, Chief Financial Officer and Chief Investment Officer of the Company effective February 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Eliott Trencher was appointed as Executive Vice President, Chief Financial Officer and Chief Investment Officer at KILROY REALTY CORP.

Action: appointed
Role: Executive Vice President, Chief Financial Officer and Chief Investment Officer

Exact text from the filing

the Company’s Board of Directors (the “Board”) appointed Eliott Trencher as Executive Vice President, Chief Financial Officer and Chief Investment Officer of the Company effective February 1, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

KILROY REALTY CORP amended Second Amendment valued at additional borrowings of up to $20 million (effective 2023-03-06).

Action: amendment
Agreement: credit facility
Value: additional borrowings of up to $20 million
Effective: 2023-03-06

Exact text from the filing

On March 6, 2023, the Operating Partnership entered into an second amendment to the Term Loan Agreement (the “Second Amendment”) to exercise the accordion feature under the Term Loan Agreement to provide for additional borrowings of up to $20 million.

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KILROY REALTY CORP filing history →

Source: SEC EDGAR

accession 0001193125-23-066099

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