UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
In this Current Report on Form 8-K, the terms “we,” “us,” “our” and “the Company” refer to Diversified Healthcare Trust.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 3, 2021, the Board of Trustees (the “Board”) elected Jennifer F. Francis, the Company’s then current President and Chief Operating Officer, to the offices of President and Chief Executive Officer. Ms. Francis does not have any family relationships with any of the Company’s Trustees or executive officers, is not a party to any transactions of the type listed in Item 404(a) of Regulation S-K, and was not appointed pursuant to any arrangement or understanding with any other person. Ms. Francis’s biography is contained in the Company’s proxy statement for the Company’s annual meeting of shareholders held on June 3, 2021 (the “Annual Meeting”), which was filed with the Securities and Exchange Commission on March 30, 2021, and is incorporated herein by reference.
Item 5.07. Submission of Matters to a Vote of Security Holders.
At the Annual Meeting, the Company’s shareholders voted on the election of Lisa Harris Jones as an Independent Trustee of the Board for a one-year term of office continuing until the Company’s 2022 annual meeting of shareholders and until her successor is duly elected and qualifies. Ms. Harris Jones received the following votes:
| For | Withhold | Broker Non-Votes | ||||||||
| 124,953,198 | 50,797,108 | 30,194,976 | ||||||||
The Company’s shareholders also voted on the election of Jennifer F. Francis as a Managing Trustee of the Board for a one-year term of office continuing until the Company’s 2022 annual meeting of shareholders and until her successor is duly elected and qualifies. Ms. Francis received the following votes:
| For | Withhold | Broker Non-Votes | ||||||||
| 153,005,483 | 22,744,823 | 30,194,976 | ||||||||
The Company’s shareholders also voted on a non-binding advisory resolution on the compensation paid to the Company’s named executive officers as disclosed pursuant to Item 402 of Regulation S-K in the Company’s proxy statement relating to the Annual Meeting. This proposal received the following votes:
| For | Against | Abstain | Broker Non-Votes | |||||||||||
| 157,930,456 | 17,219,966 | 599,884 | 30,194,976 | |||||||||||
The Company’s shareholders also ratified the appointment of Deloitte & Touche LLP as the Company’s independent auditors to serve for the 2021 fiscal year. This proposal received the following votes:
| For | Against | Abstain | Broker Non-Votes | |||||||||
| 204,478,098 | 948,340 | 518,844 | N/A | |||||||||
The results reported above are final voting results.
Item 8.01. Other Events.
Trustee Compensation
Also on June 3, 2021, the Company updated its Trustee compensation arrangements. A summary of the Company’s currently effective Trustee compensation arrangements is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Consistent with the Company’s Trustee compensation arrangements, on June 3, 2021, the Company awarded each of the Company’s Trustees 20,000 of our common shares of beneficial interest, $0.01 par value (“Common Shares”), valued at $3.70 per share, the closing price of the Common Shares on The Nasdaq Stock Market LLC on that date.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits. | |
| 10.1 | Summary of Trustee Compensation | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
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.
| DIVERSIFIED HEALTHCARE TRUST | ||
| By: | /s/ Richard W. Siedel, Jr. | |
| Name: | Richard W. Siedel, Jr. | |
| Title: | Chief Financial Officer and Treasurer | |
Date: June 4, 2021