Sunstone Hotel Investors grants retention bonuses to three executives; hires Douglas Pasquale as Interim CEO
Sunstone Hotel Investors, Inc.
Retention program approved Sep 9, 2021 for CFO Bryan Giglia ($585k cash + $1.17M equity), Robert Springer ($497k + $994k), David Klein ($370k + $740k).
Cash retention payable Feb 28, 2022; equity vests 50% on each of Feb 28, 2023 and Sep 30, 2024, subject to continued employment.
Employment agreement with Douglas Pasquale as Interim CEO, base salary $825k, performance bonus target $1.85M (min $750k, max $3M).
Pasquale receives signing equity award of $2.25M, vesting in full on Sep 2, 2022.
Term ends on earlier of Sep 2, 2022 or date new permanent CEO appointed.
on September 10, 2021, the Compensation Committee of the Board approved entering into an employment agreement (the “Employment Agreement”) with the Company’s Interim Chief Executive Officer, Douglas Pasquale (the “Executive”).
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Douglas Pasquale was appointed as Interim Chief Executive Officer at Sunstone Hotel Investors, Inc..
Action
appointed
Role
Interim Chief Executive Officer
Exact text from the filing
on September 10, 2021, the Compensation Committee of the Board approved entering into an employment agreement (the “Employment Agreement”) with the Company’s Interim Chief Executive Officer, Douglas Pasquale (the “Executive”).
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