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 25, 2015 (June 23, 2015)
INVESTORS REAL ESTATE TRUST
(Exact name of Registrant as specified in its charter)
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North Dakota |
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001-35624 |
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45-0311232 |
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(State or Other Jurisdiction |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
1400 31st Avenue SW, Suite 60
Post Office Box 1988
Minot, ND 58702-1988
(Address of principal executive offices) (Zip code)
(701) 837-4738
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed from 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:
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 Arrangements of Certain Officers.
On June 23, 2015, the Board of Trustees of Investors Real Estate Trust, elected Jeffrey P. Caira as a trustee of the Company’s Board, whose term of office expires at the 2015 Annual Meeting of the Shareholders and until his successor is elected and qualified. The Board of Trustees has determined that Mr. Caira qualifies as an “independent director” in accordance with the listing standards of the New York Stock Exchange. Mr. Caira will serve on the Nominating and Governance Committee, and will receive compensation for Board service commensurate with the Company’s other non-employee trustees.
Item 7.01. Regulation FD Disclosure.
On June 25, 2015, Investors Real Estate Trust issued a press release announcing the appointment of Mr. Caira to its Board of Trustees, which is attached hereto as Exhibit 99.1.
The information set forth in this Item 7.01, including Exhibit 99.1, is being furnished pursuant to Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and it shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or under the Exchange Act, except as expressly provided by specific reference in such a filing.
ITEM 9.01 Financial Statements and Exhibits
(d) Exhibits
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Exhibit |
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Number |
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Description |
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99.1 |
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Press Release dated June 25, 2015. |
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.
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INVESTORS REAL ESTATE TRUST | |
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Date: June 25, 2015 |
By: |
/s/ Timothy P. Mihalick |
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Timothy P. Mihalick |
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President & Chief Executive Officer |
Exhibit 99.1
Investors Real Estate Trust Announces Appointment of Jeff Caira as a Trustee
MINOT, N.D. - June 25, 2015 - Investors Real Estate Trust (NYSE:IRET) (NYSE:IRETPR) (NYSE:IRETPRB) announced that the Company’s Board of Trustees has elected Jeffrey P. Caira as a trustee, effective as of June 23, 2015. Mr. Caira’s term of office will continue until the Company’s 2015 Annual Meeting of Shareholders and until his successor is elected and qualifies. Mr. Caira will serve on the Board’s Nomination and Governance Committee.
Mr. Caira, 58, brings to the Company over 30 years experience in the real estate industry and ten years experience in serving on boards of directors. He was most recently a Director — Co-Portfolio Manager at AEW Capital Management for ten years, on the North American Diversified Strategy, a multi- billion dollar real estate securities portfolio. Prior to that, Mr. Caira served as a Vice President- Portfolio Manager and Senior Analyst for Pioneer Investment Management, Inc., managing the U.S. real estate sector fund; and Vice-President — Senior Equity Research Analyst for RBC Dain Rauscher, Inc. (formerly Tucker Anthony), covering equity REITs. Mr. Caira’s valuable experience on several non-profit boards will also be a welcome addition to IRET’s Board of Trustees. Mr. Caira graduated from the University of Notre Dame and holds a Master of Business Administration degree from the Kellogg School of Management.
“We look forward to Jeff contributing to the Board of Investors Real Estate Trust,” said IRET’s President and Chief Executive Officer, Timothy Mihalick. “Jeff’s experience in property acquisition, financing, and management, along with public company securities analysis and portfolio management will be an asset as we continue with implementation of the Company’s Strategic Plan announced at the end of our 2015 fiscal third quarter.”
About Investors Real Estate Trust
Investors Real Estate Trust is a self-advised equity real estate investment trust. Its business consists of owning and operating income-producing multi-family residential, healthcare and commercial properties located primarily in the upper Midwest states of Minnesota and North Dakota. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis and St. Cloud, Minnesota.
Cindy Bradehoft
Director of Investor Relations
10050 Crosstown Circle, Suite 105
Eden Prairie, Minnesota 55344
Phone: 952.401.4835
Email: cbradehoft@iret.com