secwatch.observer — SEC 8-K summary
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Issuer:     Postal Realty Trust, Inc. (PSTL)
CIK:        0001759774
Form:       8-K
Filed at:   2023-10-20T23:59:59+00:00
Accession:  0001628280-23-034828
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Postal Realty amends CEO/CFO employment deals; new base salaries, severance terms effective Jan 2023
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- CEO Andrew Spodek base salary set at $380k; bonus target 150% of base; LTIP target 160% of base.
- President Jeremy Garber base $315k, bonus target 117.5%, LTIP target 135%; CFO Robert Klein base $275k, bonus target 112.5%, LTIP target 125%.
- Initial term 3 years from Jan 1, 2023; automatic two one-year renewals unless 90-day notice.
- Severance: Spodek receives 3x (base + avg bonus) on without-cause termination; Garber and Klein receive 1x.
- Change-in-control provisions include accelerated vesting of equity and additional payments within 365 days post-CIC.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1759774/000162828023034828/0001628280-23-034828-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1759774/000162828023034828/pstl-20231017.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-034828

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