Sun Communities Discloses Indicator of Equity Grant for New CEO Appointee
Sun Communities Grants Equity Award to New CEO
Sun Communities, Inc., a leading real estate investment trust (REIT), has announced the granting of an equity award to its incoming Chief Executive Officer (CEO), Charles D. Young. The press release contains forward-looking statements subject to safe harbors under the Securities Act of 1933 and the Securities Exchange Act of 1934.
The equity award consists of shares of Sun Communities, Inc.'s common stock with an aggregate value of $1,000,000. This award will be issued in accordance with New York Stock Exchange Listed Company Manual Rule 303A.08 and will be granted outside the Company's 2015 Equity Incentive Plan. It is important to note that the equity award will be fully vested upon issuance on October 1, 2025.
Before becoming CEO, Charles D. Young served as the Chief Financial Officer (CFO) and Executive Vice President of Sun Communities, Inc. He brings extensive experience in real estate finance and management to his new role. Prior to his appointment as CEO, he held senior financial roles in other real estate investment trusts (REITs).
Sun Communities, Inc. owns, operates, or has an interest in a portfolio of approximately 174,450 developed sites, which includes 501 developed properties. The Company's properties are located in the United States, Canada, and the United Kingdom.
The Company's portfolio is a testament to its success in the real estate industry. However, it is important to note that the Company's actual results may materially differ from any future results expressed or implied by such forward-looking statements due to known and unknown risks, uncertainties, and other factors. These risks and uncertainties are described in detail in the Company's periodic reports filed with the U.S. Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements included or incorporated by reference into this document, except as required by law.
For further information, please contact Fernando Castro-Caratini, Chief Financial Officer, at (248) 208-2500 or visit the Company's website at www.suninc.com.
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