secwatch.observer — SEC 8-K summary
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Issuer:     KILROY REALTY CORP (KRC)
CIK:        0001025996
Form:       8-K
Filed at:   2023-03-09T23:59:59+00:00
Accession:  0001193125-23-066099
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1025996/000119312523066099/0001193125-23-066099-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1025996/000119312523066099/d476012d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-066099

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