Armada Hoffler Properties Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$AHH
Real Estate
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 21, 2025
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 21, 2025 (the “Resignation Date”), Eric E. Apperson, the former President of Construction of Armada Hoffler Properties, Inc. (the “Company”), resigned from his position as President of Construction of the Company.
On May 21, 2025, Mr. Apperson and the Company entered into a Separation and General Release Agreement (the “Separation Agreement”) that will become effective on May 29, 2025, unless it is earlier revoked. Subject to the terms and conditions of the Separation Agreement, Mr. Apperson will be entitled to severance payments and other benefits that are consistent with the compensation and other benefits applicable to a Tier II Participant in the Armada Hoffler, L.P. (the “Operating Partnership”) Amended and Restated Executive Severance Benefit Plan, as defined therein and as described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 25, 2025. Additionally, pursuant to the Separation Agreement, the Company accelerated the vesting of an aggregate of 25,136 unvested shares of restricted stock and 12,346 unvested Time-Based LTIP Units (as defined in Second Amended and Restated Agreement of Limited Partnership of the Operating Partnership, dated as of February 13, 2025) held by Mr. Apperson.
Mr. Apperson executed a release of claims against the Company in connection with entering into the Separation Agreement. Under the Separation Agreement, Mr. Apperson has agreed (A) not to disclose any confidential or proprietary information of the Company and (B) not to compete with the Company or solicit the Company’s employees, customers or vendors for one year following his Resignation Date. Each of the Company and Mr. Apperson also agreed not to disparage the other party.
The foregoing summary of the Separation Agreement is not a complete description of all of the terms and conditions, and is qualified in its entirety by reference to the full text of the agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |||||||
| 10.1 | ||||||||
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ARMADA HOFFLER PROPERTIES, INC. | ||||||||
| Date: May 23, 2025 | By: | /s/ Matthew Barnes-Smith | ||||||
| Matthew Barnes-Smith | ||||||||
| Chief Financial Officer, Treasurer, and Corporate Secretary | ||||||||