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): March 20, 2014
W. P. CAREY INC.
(Exact Name of Registrant as Specified in Charter)
Maryland |
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001-13779 |
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45-4549771 |
(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
50 Rockefeller Plaza, New York, NY |
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10020 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrants telephone number, including area code: (212) 492-1100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Agreements of Certain Officers.
Effective as of March 20, 2014, Jean Hoysradt was elected to the Board of Directors (the Board) of W. P. Carey Inc. (the Company) to fill a vacancy created by the previously announced retirement of Director Francis J. Carey in January. Ms. Hoysradt will be eligible to participate in the Companys standard non-employee director compensation program including being eligible to receive an annual cash retainer and an annual grant of restricted stock under the W. P. Carey Inc. 2009 Non-Employee Directors Incentive Plan, as described further in the Companys proxy statement for its 2013 Annual Meeting of Stockholders, which was filed with the Securities and Exchange Commission on April 30, 2013. There are no other understandings or arrangements between Ms. Hoysradt or any other person and the Company or any of its subsidiaries pursuant to which Ms. Hoysradt was appointed to serve as a director. There are no transactions between Ms. Hoysradt or any of her immediate family members and the Company or any of its subsidiaries that would be required to be reported under Item 404(a) of Regulation S-K.
On March 26, 2014, the Company issued a press release announcing, among other things, Ms. Hoysradts election to the Board. A copy of that press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
ITEM 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit |
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Description |
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99.1 |
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Press Release issued on March 26, 2014. |
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, thereunto duly authorized.
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W. P. Carey Inc. | |
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Date: March 26, 2014 |
By: |
/s/ Susan C. Hyde |
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Susan C. Hyde | |
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Managing Director |
Exhibit 99.1
Company contact:
Kristina McMenamin
W. P. Carey Inc.
212-492-8995
kmcmenamin@wpcarey.com
Media contact:
Guy Lawrence
Ross & Lawrence
212-308-3333
gblawrence@rosslawpr.com
W. P. Carey Inc. Announces Election of Jean Hoysradt to Board of Directors
Francis J. Carey Named Director Emeritus
New York, NY- March 26, 2014 - W. P. Carey Inc. (NYSE:WPC), a global net-lease real estate investment trust, announced today that Jean Hoysradt has been elected a director of the Company.
Since 2011, Ms. Hoysradt has served as a member of the Investment Committee of Carey Asset Management Corp., W. P. Careys subsidiary responsible for advising the Company and its Corporate Property Associates (CPA®) series of publicly held, non-traded real estate investment trusts on their investments. Ms. Hoysradt is Chief Investment Officer of Mousse Partners Limited, an investment office based in New York. Prior to Mousse, she served as Senior Vice President and Head of Securities Investment and Treasury at New York Life Insurance Company, and previously held positions in investment banking and investment management at Manufacturers Hanover, First Boston and Equitable Life. A graduate of Duke University, Ms. Hoysradt also holds an MBA from the Columbia University School of Business. She is a member of Duke University Management Companys Board of Directors and Audit Committee.
Commenting on the election of Ms. Hoysradt, W. P. Careys President and CEO, Trevor Bond noted, Having served as a member of our Investment Committee for more than three years, Jean has played a critical role in making investment decisions and strengthening the investment process during a time of growth and diversification. Her broad real estate, private equity and investment expertise, along with her domestic and international experience, have been great assets to the Investment Committee and we know she will continue to bring this valuable perspective to our Board. We are delighted to welcome Jean in her expanded role as a director of W. P. Carey Inc.
The Company also announced that former Director Francis J. Carey, who retired from the Board in January, has been named as an Emeritus Director. Mr. Carey served W. P. Carey in the roles of Board member and senior officer since its founding in 1973.
Regarding Mr. Careys retirement and appointment as Director Emeritus, Mr. Bond added, Frank is emblematic of our commitment to our stockholders and employees and the unparalleled professionalism established by his brother and our founder, Bill Carey. We look forward to his continued guidance and his sharing of the institutional heritage that is at the core of W. P. Carey today.
W. P. Carey Inc.
W. P. Carey Inc. is a leading global net-lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions for companies worldwide. It also acts as the manager to a series of non-traded REITs. The Companys owned and managed diversified global investment portfolio had a combined enterprise value of approximately $15 billion at December 31, 2013. Its corporate finance-focused credit and real estate underwriting process is a constant that has been successfully leveraged across a wide variety of industries and property types. Furthermore, its portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows, enabling it to deliver consistent and rising dividend income to investors for over four decades.
www.wpcarey.com
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