secwatch.observer — SEC 8-K summary
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Issuer:     Seaport Entertainment Group Inc. (SEG)
CIK:        0002009684
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0001628280-24-034173
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 3.03, 5.03, 5.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seaport Entertainment completes spin-off from Howard Hughes, begins trading on NYSE American under SEG
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- Distribution on July 31, 2024: HHH shareholders received 1 SEG share per 9 HHH shares; HHH contributed $23.4M cash.
- Entered separation, transition services, tax, and employee agreements with HHH; issued ~5.52M shares in private placement for asset transfers.
- Board expanded to 5 directors; David Hirsh, Michael Crawford, Monica Digilio, Anthony Massaro appointed; Anton Nikodemus remains CEO.
- CEO Nikodemus granted $10M equity award (RSUs + options); Partridge $900k RSUs, Fato $212.5k RSUs; 2024 bonuses at Compensation Committee discretion.
- Refinanced $51.2M Las Vegas Ballpark note (4.92%) with Seaport as guarantor; Seaport District issued $10M Series A preferred stock at 14%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2009684/000162828024034173/0001628280-24-034173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2009684/000162828024034173/seaportentertainmentgroups.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-034173

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