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) June 21, 2017
MONMOUTH REAL ESTATE INVESTMENT CORPORATION
(Exact name of registrant as specified in its charter)
| MARYLAND | 001-33177 | 22-1897375 | ||
| (State or other jurisdiction | (Commission | (IRS Employer | ||
| of incorporation) | File Number) | Identification No.) |
| 3499 Route 9N, Suite 3D, Freehold, NJ | 07728 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code (732) 577-9996
(Former name or former address, if changed since last report.)
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 (see General Instructions A.2. below):
[ ] Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 142-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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). Emerging growth company [ ]
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. [ ]
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 20, 2017, Ms. Anna T. Chew retired from the Board of Directors. In order to fill the resulting vacancy, effective June 20, 2017, the Board of Directors elected Mr. Kevin S. Miller, the Company’s Chief Financial and Accounting Officer, as a Class I Director, for the remaining term of Class I, expiring at the Company’s 2019 annual meeting of stockholders and when his successor is duly elected and qualifies. As a member of the Board of Directors, Mr. Miller will receive an annual fee of $41,000 and a meeting attendance fee of $4,000 for each Board meeting attended.
Item 7.01 Regulation FD Disclosure.
On June 21, 2017, the Company issued a press release announcing the retirement of Ms. Anna T. Chew and the election of Mr. Kevin S. Miller to the Board of Directors.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits. | |
| 99.1 | Press Release dated June 21, 2017. |
| 2 |
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.
| MONMOUTH REAL ESTATE INVESTMENT CORPORATION | |
| /s/ Kevin S. Miller | |
| Kevin S. Miller | |
| Chief Financial and Accounting Officer |
Date June 22, 2017
| 3 |
| FOR IMMEDIATE RELEASE | June 21, 2017 | ||
| Contact: | Susan M. Jordan | ||
| 732-577-9996 | |||
MONMOUTH REAL ESTATE INVESTMENT CORPORATION
ANNOUNCES
THE ELECTION OF KEVIN S. MILLER, CHIEF FINANCIAL OFFICER TO THE BOARD OF
DIRECTORS AND THE CONCURRENT RETIREMENT OF ANNA T. CHEW FROM THE BOARD OF
DIRECTORS
FREEHOLD, NJ, June 21, 2017…………..Monmouth Real Estate Investment Corp. (NYSE:MNR) announced that on June 20, 2017, Ms. Anna T. Chew, who serves as Chief Financial Officer and Director of UMH Properties, Inc., retired from Monmouth’s Board of Directors. In order to fill the resulting vacancy, the Board of Directors elected Mr. Kevin S. Miller as a Class I Director for the remaining term of Class I expiring in 2019. This election has been accepted, effective June 20, 2017.
Mr. Kevin S. Miller, aged 47, is a Certified Public Accountant and is the Chief Financial Officer, Chief Accounting Officer and Treasurer of Monmouth Real Estate Investment Corp. Prior to joining Monmouth in 2012, Mr. Miller was an Assistant Controller and Assistant Vice-President of Forest City Ratner, a real estate developer, owner and operator of a wholly-owned subsidiary of a publicly-held company, Forest City Realty Trust, Inc.
Commenting on the announcement, Eugene W. Landy, Chairman of the Board of Monmouth, said, “On behalf of the Company, I’d like to thank Ms. Chew for her exemplary board service over the past 10 years. Ms. Chew has been invaluable as a Director and as our Company’s CFO from 1991 through 2010. Ms. Chew has always served Monmouth and our stockholders with the utmost integrity. Our REIT has been one of the most successful REITs in the industry, and we are grateful to Anna for having served so long and so well.”
“Mr. Miller has served as our Company’s CFO since 2012 and he has contributed greatly to our success. The Board of Directors recognizes Mr. Miller’s valuable financial and real estate experience. Mr. Miller’s extensive executive experience makes him an excellent addition to our Board and I congratulate him on his election.”
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the U.S. The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully integrated and self-managed real estate company, whose property portfolio consists of 101 properties containing a total of approximately 16.9 million rentable square feet, geographically diversified across 30 states. In addition, the Company owns a portfolio of REIT securities.
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