8-K
filed March 1, 2024, 6:59 PM ET
ticker CMRF
CIK 0001498547
other material
confidence high
sentiment negative
materiality 0.80
CIM Real Estate Finance Trust announces director resignations and updated NAV of $6.09 per share
CIM REAL ESTATE FINANCE TRUST, INC.
- Five directors resigned to serve on board of subsidiary CLR, which holds ~$1.6B in assets and 24% of Company equity.
- Estimated NAV per share declined from $6.31 (Sep 2023) to $6.09 (Jan 2024), driven by higher interest rates and office tenant demand.
- Kroll, independent appraiser, provided a valuation range of $5.99-$6.18 per share; Board adopted the $6.09 midpoint.
- Board reduced to five members after resignations; three independent directors remain.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Emily Vande Krol resigned as Director at CIM REAL ESTATE FINANCE TRUST, INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
On February 29, 2024, Alicia K. Harrison, Calvin E. Hollis, Avraham Shemesh, Roger D. Snell and Emily Vande Krol (each a “Resigning Director” and collectively, the “Resigning Directors”), of whom Messrs. Hollis and Snell, and Ms. Harrison are independent directors, resigned from the board of directors (the “Board”) of CIM Real Estate Finance Trust, Inc., a Maryland corporation (the “Company”), effective as of the close of the meeting of the Board on February 29, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Alicia K. Harrison resigned as Director at CIM REAL ESTATE FINANCE TRUST, INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
On February 29, 2024, Alicia K. Harrison, Calvin E. Hollis, Avraham Shemesh, Roger D. Snell and Emily Vande Krol (each a “Resigning Director” and collectively, the “Resigning Directors”), of whom Messrs. Hollis and Snell, and Ms. Harrison are independent directors, resigned from the board of directors (the “Board”) of CIM Real Estate Finance Trust, Inc., a Maryland corporation (the “Company”), effective as of the close of the meeting of the Board on February 29, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Roger D. Snell resigned as Director at CIM REAL ESTATE FINANCE TRUST, INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
On February 29, 2024, Alicia K. Harrison, Calvin E. Hollis, Avraham Shemesh, Roger D. Snell and Emily Vande Krol (each a “Resigning Director” and collectively, the “Resigning Directors”), of whom Messrs. Hollis and Snell, and Ms. Harrison are independent directors, resigned from the board of directors (the “Board”) of CIM Real Estate Finance Trust, Inc., a Maryland corporation (the “Company”), effective as of the close of the meeting of the Board on February 29, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Avraham Shemesh resigned as Director at CIM REAL ESTATE FINANCE TRUST, INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
On February 29, 2024, Alicia K. Harrison, Calvin E. Hollis, Avraham Shemesh, Roger D. Snell and Emily Vande Krol (each a “Resigning Director” and collectively, the “Resigning Directors”), of whom Messrs. Hollis and Snell, and Ms. Harrison are independent directors, resigned from the board of directors (the “Board”) of CIM Real Estate Finance Trust, Inc., a Maryland corporation (the “Company”), effective as of the close of the meeting of the Board on February 29, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Calvin E. Hollis resigned as Director at CIM REAL ESTATE FINANCE TRUST, INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
On February 29, 2024, Alicia K. Harrison, Calvin E. Hollis, Avraham Shemesh, Roger D. Snell and Emily Vande Krol (each a “Resigning Director” and collectively, the “Resigning Directors”), of whom Messrs. Hollis and Snell, and Ms. Harrison are independent directors, resigned from the board of directors (the “Board”) of CIM Real Estate Finance Trust, Inc., a Maryland corporation (the “Company”), effective as of the close of the meeting of the Board on February 29, 2024.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.