{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-163518","form_type":"8-K","ticker":"SRG","cik":"0001628063","company_name":"Seritage Growth Properties","filed_at":"2023-06-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.731650+00:00","generated_at":"2026-06-14T04:59:57.226274+00:00","sec_items":["5.02","5.07","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Seritage repays $50M on term loan; $550M remains, annual interest cut $3.5M","bullets":["Voluntary prepayment of $50M on June 7, 2023 under $1.6B term loan with Berkshire Hathaway.","Cumulative repayments of $1.05B since December 2021; $550M outstanding after prepayment.","Annual interest expense reduced by ~$3.5M from this prepayment, total ~$73.5M cumulative savings.","Five directors resigned without disagreement to facilitate board declassification; all seven trustees elected at annual meeting."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-163518","json":"https://secwatch.observer/filing/0001193125-23-163518.json","markdown":"https://secwatch.observer/filing/0001193125-23-163518.md","text":"https://secwatch.observer/filing/0001193125-23-163518.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/d508299d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T04:59:57.226274+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"277f646631","claim":"Adam Metz resigned as Trustee at Seritage Growth Properties.","evidence_excerpt":"On June 5, 2023, John T. McClain, Adam Metz, Mitchell Sabshon, Allison L. Thrush and Mark Wilsmann resigned from the Board of Trustees","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Trustee"}],"fact_type":"executive_change"},{"claim_id":"a5acc19482","claim":"Mark Wilsmann resigned as Trustee at Seritage Growth Properties.","evidence_excerpt":"On June 5, 2023, John T. McClain, Adam Metz, Mitchell Sabshon, Allison L. Thrush and Mark Wilsmann resigned from the Board of Trustees","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Trustee"}],"fact_type":"executive_change"},{"claim_id":"b07ce9da43","claim":"Mitchell Sabshon resigned as Trustee at Seritage Growth Properties.","evidence_excerpt":"On June 5, 2023, John T. McClain, Adam Metz, Mitchell Sabshon, Allison L. Thrush and Mark Wilsmann resigned from the Board of Trustees","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Trustee"}],"fact_type":"executive_change"},{"claim_id":"b96c37c768","claim":"Allison L. Thrush resigned as Trustee at Seritage Growth Properties.","evidence_excerpt":"On June 5, 2023, John T. McClain, Adam Metz, Mitchell Sabshon, Allison L. Thrush and Mark Wilsmann resigned from the Board of Trustees","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Trustee"}],"fact_type":"executive_change"},{"claim_id":"e96db6ead4","claim":"John T. McClain resigned as Trustee at Seritage Growth Properties.","evidence_excerpt":"On June 5, 2023, John T. McClain, Adam Metz, Mitchell Sabshon, Allison L. Thrush and Mark Wilsmann resigned from the Board of Trustees","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Trustee"}],"fact_type":"executive_change"},{"claim_id":"64dffa24ce5a22877b4c49ec0a7576ee6fc42dae","claim":"Seritage Growth Properties shareholders approved Election of trustees at the 2023-06-06 meeting.","evidence_excerpt":"1. Election of trustees. John T. McClain, Adam Metz, Talya Nevo-Hacohen, Andrea Olshan, Mitchell Sabshon, Allison L. Thrush and Mark Wilsmann stood for re-election as trustees of the Company for a term ending at the 2024 annual meeting of shareholders. Under the Company’s bylaws, the affirmative vote of at least two-thirds of all the votes cast at a meeting of shareholders at which a quorum is present is required to elect a trustee. The votes on this matter were as follows, in which all such trustees of the Company received the required two-thirds of all the votes cast: Name For Against Abstain Broker Non-Vote John T. McClain 32,620,431 3,014,117 19,705 6,241,638 Adam Metz 32,892,027 2,750,751 11,475 6,241,638 Talya Nevo-Hacohen 32,949,121 2,672,362 32,770 6,241,638 Andrea Olshan 35,448,284 181,720 24,249 6,241,638 Mitchell Sabshon 34,471,109 1,162,935 20,209 6,241,638 Allison L. Thrush 34,935,694 697,619 20,940 6,241,638 Mark Wilsmann 34,937,226 697,046 19,981 6,241,638","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"director election"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-06-06"}],"fact_type":"shareholder_vote"},{"claim_id":"9f3eaef6cfa0a999315f2f7e6f19a40a9e3aab78","claim":"Seritage Growth Properties shareholders approved Approval of, on an advisory basis, the frequency in which shareholders will participate in any advisory vote on executive compensation at the 2023-06-06 meeting.","evidence_excerpt":"4. Approval of, on an advisory basis, the frequency in which shareholders will participate in any advisory vote on executive compensation . The shareholders approved, on an advisory basis, the frequency in which shareholders will participate in any advisory vote on executive compensation. Approval of this advisory, non-binding, resolution required the affirmative vote of a majority of votes at the annual meeting. The votes on this matter were as follows: 1 Year 2 Years 3 Years Abstain Broker Non-Vote 35,528,066 9,859 105,941 10,387 6,241,638","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay frequency"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-06-06"}],"fact_type":"shareholder_vote"},{"claim_id":"d2aad447275abcaa757ab98e7ad9127f3095530e","claim":"Seritage Growth Properties shareholders approved Approval of an advisory, non-binding, resolution to approve the Company’s executive compensation program for the Company’s named executive officers at the 2023-06-06 meeting.","evidence_excerpt":"3. Approval of an advisory, non-binding, resolution to approve the Company’s executive compensation program for the Company’s named executive officers. The shareholders approved an advisory, non-binding, resolution to approve the Company’s executive compensation program for the Company’s named executive officers. Approval of this advisory, non-binding, resolution required the affirmative vote of a majority of votes at the annual meeting. The votes on this matter were as follows: For Against Abstain Broker Non-Vote 15,576,078 4,979,785 15,098,390 6,241,638","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-06-06"}],"fact_type":"shareholder_vote"},{"claim_id":"f74bbef2e02002edc1dbff38a610849e42046b2a","claim":"Seritage Growth Properties shareholders approved Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2023 at the 2023-06-06 meeting.","evidence_excerpt":"2. Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2023. The shareholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2023. Ratification of the appointment of our independent registered public accounting firm required the affirmative vote of a majority of votes at the annual meeting. The votes on this matter were as follows: For Against Abstain Broker Non-Vote 41,712,026 130,977 52,888 0","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628063/000119312523163518/0001193125-23-163518-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"auditor ratification"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-06-06"}],"fact_type":"shareholder_vote"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}