x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Maryland | 20-4072657 |
(State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |
890 Winter Street, Suite 200, Waltham, Massachusetts | 02451 |
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer | x | Accelerated filer | ¨ |
Non-accelerated filer | ¨ (Do not check if a smaller reporting company) | Smaller reporting company | ¨ |
Class | April 22, 2016 |
Common Stock ($0.01 par value) | 151,556,564 |
(a) | Exhibits. |
Exhibit Number | Description of Exhibit | |
3.1(1) | Articles of Amendment and Restatement of CYS Investments, Inc. | |
3.2(2) | Articles of Amendment to the Articles of Amendment and Restatement | |
3.3(2) | Articles of Amendment to the Articles of Amendment and Restatement | |
3.4(3) | Articles of Amendment to the Articles of Amendment and Restatement | |
3.5(4) | Articles Supplementary of 7.75% Series A Cumulative Redeemable Preferred Stock | |
3.6(5) | Articles Supplementary of 7.50% Series B Cumulative Redeemable Preferred Stock | |
3.7(6) | Amended and Restated Bylaws of CYS Investments, Inc. | |
10.1 | 2016 Incentive Compensation Plan | |
31.1* | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes – Oxley Act of 2002 | |
31.2* | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes – Oxley Act of 2002 | |
32.1** | Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes – Oxley Act of 2002 | |
32.2** | Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes – Oxley Act of 2002 | |
Exhibit 101.INS XBRL | Instance Document (7) | |
Exhibit 101.SCH XBRL | Taxonomy Extension Schema Document (7) | |
Exhibit 101.CAL XBRL | Taxonomy Extension Calculation Linkbase Document (7) | |
Exhibit 101.DEF XBRL | Additional Taxonomy Extension Definition Linkbase Document Created (7) | |
Exhibit 101.LAB XBRL | Taxonomy Extension Label Linkbase Document (7) | |
Exhibit 101.PRE XBRL | Taxonomy Extension Presentation Linkbase Document (7) |
(1) | Incorporated by reference to the Registrant’s Registration Statement on Form S-11 filed with the Securities and Exchange Commission (File No. 333-142236). |
(2) | Incorporated by reference from the Registrant’s Form 10-K filed with the Securities and Exchange Commission on February 10, 2010. |
(3) | Incorporated by reference from the Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 1, 2011. |
(4) | Incorporated by reference from the Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on August 2, 2012. |
(5) | Incorporated by reference from the Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on April 29, 2013. |
(6) | Incorporated by reference from the Registrant’s Form 10-K filed with the Securities and Exchange Commission on February 10, 2012. |
(7) | Incorporated by reference from the Registrant’s Form 10-Q filed with the Securities and Exchange Commission on April 22, 2016. |
Dated: April 26, 2016 | BY: /s/ FRANCES R. SPARK |
Exhibit Number | Description | |
3.1(1) | Articles of Amendment and Restatement of CYS Investments, Inc. | |
3.2(2) | Articles of Amendment to the Articles of Amendment and Restatement | |
3.3(2) | Articles of Amendment to the Articles of Amendment and Restatement | |
3.4(3) | Articles of Amendment to the Articles of Amendment and Restatement | |
3.5(4) | Articles Supplementary of 7.75% Series A Cumulative Redeemable Preferred Stock | |
3.6(5) | Articles Supplementary of 7.50% Series B Cumulative Redeemable Preferred Stock | |
3.7(6) | Amended and Restated Bylaws of CYS Investments, Inc. | |
10.1 | 2016 Incentive Compensation Plan | |
31.1* | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes – Oxley Act of 2002 | |
31.2* | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes – Oxley Act of 2002 | |
32.1** | Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes – Oxley Act of 2002 | |
32.2** | Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes – Oxley Act of 2002 | |
Exhibit 101.INS XBRL | Instance Document (7) | |
Exhibit 101.SCH XBRL | Taxonomy Extension Schema Document (7) | |
Exhibit 101.CAL XBRL | Taxonomy Extension Calculation Linkbase Document (7) | |
Exhibit 101.DEF XBRL | Additional Taxonomy Extension Definition Linkbase Document Created (7) | |
Exhibit 101.LAB XBRL | Taxonomy Extension Label Linkbase Document (7) | |
Exhibit 101.PRE XBRL | Taxonomy Extension Presentation Linkbase Document (7) |
(1) | Incorporated by reference to the Registrant’s Registration Statement on Form S-11 filed with the Securities and Exchange Commission (File No. 333-142236). |
(2) | Incorporated by reference from the Registrant’s Form 10-K filed with the Securities and Exchange Commission on February 10, 2010. |
(3) | Incorporated by reference from the Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 1, 2011. |
(4) | Incorporated by reference from the Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on August 2, 2012. |
(5) | Incorporated by reference from the Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on April 29, 2013. |
(6) | Incorporated by reference from the Registrant’s Form 10-K filed with the Securities and Exchange Commission on February 10, 2012. |
(7) | Incorporated by reference from the Registrant’s Form 10-Q filed with the Securities and Exchange Commission on April 22, 2016. |
Percentage of Base Salary | |||
Name | Minimum | Target | Maximum |
Kevin E. Grant | 100% | 325% | 550% |
Frances R. Spark | 50% | 100% | 150% |
Richard E. Cleary | 50% | 100% | 150% |
Thomas A. Rosenbloom | 50% | 100% | 150% |
All Other Employees | Will vary based on employee |
Name | Quantitative Component | Qualitative Component | |
Kevin E. Grant | 75% | 25% | |
Frances R. Spark | 60% | 40% | |
Richard E. Cleary | 60% | 40% | |
Thomas A. Rosenbloom | 60% | 40% | |
All other employees | Will vary based on employee |
Bonus Levels | Hurdle Rates |
No Bonus | Less than 4% |
Minimum | 4% |
Target | 10% |
Maximum | Greater than 12% |
Bonus Levels | Hurdle Rates |
No Bonus | Less than 12% |
Minimum | 12% |
Target | 30% |
Maximum | Greater than 36% |
Bonus Levels | Ordinal Ranking Amongst Peer Group | ||
No Bonus | 12th, 13th, 14th or 15th | ||
Minimum | 8th, 9th, 10th or 11th | ||
Target | 4th, 5th, 6th or 7th | ||
Maximum | 1st, 2nd or 3rd |
1. | I have reviewed this Quarterly Report on Form 10-Q of CYS Investments, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
/s/ KEVIN E. GRANT | |
Kevin E. Grant | |
Chairman of the Board and Chief Executive Officer |
1. | I have reviewed this Quarterly Report on Form 10-Q of CYS Investments, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
/s/ FRANCES R. SPARK | |
Frances R. Spark | |
Chief Financial Officer and Treasurer |
(1) | the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
(2) | the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ KEVIN E. GRANT | |
Kevin E. Grant | |
Chairman of the Board and Chief Executive Officer |
(1) | the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
(2) | the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ FRANCES R. SPARK | |
Frances R. Spark | |
Chief Financial Officer and Treasurer |
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