secwatch.observer — SEC 8-K summary
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Issuer:     Sunstone Hotel Investors, Inc. (SHO)
CIK:        0001295810
Form:       8-K
Filed at:   2021-09-13T23:59:59+00:00
Accession:  0001558370-21-012435
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sunstone Hotel Investors grants retention bonuses to three executives; hires Douglas Pasquale as Interim CEO
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1295810/000155837021012435/0001558370-21-012435-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1295810/000155837021012435/sho-20210909x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-21-012435

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer