-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VseDXfOZf/CDqBepCOUHx6HlRRdpEEl38+oCfBmUTLjN1enwKmOdB1Nk8kaQgEZf iHo44iEz43KUNcQCaJBvMA== 0000950123-10-025820.txt : 20100318 0000950123-10-025820.hdr.sgml : 20100318 20100318103007 ACCESSION NUMBER: 0000950123-10-025820 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100315 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20100318 DATE AS OF CHANGE: 20100318 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EQUITY LIFESTYLE PROPERTIES INC CENTRAL INDEX KEY: 0000895417 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 363857664 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11718 FILM NUMBER: 10690416 BUSINESS ADDRESS: STREET 1: TWO N RIVERSIDE PLZ STREET 2: STE 800 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3122791400 MAIL ADDRESS: STREET 1: TWO N RIVERSIDE PLAZE CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: MANUFACTURED HOME COMMUNITIES INC DATE OF NAME CHANGE: 19940218 8-K 1 c57041e8vk.htm FORM 8-K e8vk
 
 
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: March 15, 2010
(Date of earliest event reported)
EQUITY LIFESTYLE PROPERTIES, INC.
(Exact name of registrant as specified in its charter)
         
Maryland   1-11718   36-3857664
(State or other jurisdiction of
incorporation or organization) 		  (Commission File No.)   (IRS Employer Identification
Number)
     
Two North Riverside Plaza, Chicago, Illinois
(Address of principal executive offices) 		  60606
(Zip Code)
(312) 279-1400
(Registrant’s telephone number, including area code)
     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 Instruction A.2. below):
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.
(e) Compensatory Arrangements of Certain Officers.
2010 Executive Bonus Plan:
     On March 15, 2010, the Compensation, Nominating and Corporate Governance Committee (the “Compensation Committee”) of the Board of Directors of Equity LifeStyle Properties, Inc. (the “Company”) approved the 2010 Executive Bonus Plan (the “Plan”). Under the Plan, the annual bonus potential was established based on certain performance targets.
     The total bonus potential under the Plan for each eligible executive follows:
         
Name   Title   Bonus Potential
Thomas P. Heneghan
  Chief Executive Officer   200% of annual salary
Joe McAdams
  President   300% of annual salary*
Michael Berman
  Executive Vice President and Chief Financial Officer   150% of annual salary
Roger Maynard
  Executive Vice President — Asset Management   150% of annual salary
Ellen Kelleher
  Executive Vice President — Property Management, and Secretary   150% of annual salary
Marguerite Nader
  Executive Vice President —Sales and Marketing   150% of annual salary
 
*   Pursuant to employment agreement.
     The Compensation Committee determined that payment of 50% of the bonus potential is contingent upon certain operational targets, including goals related to core manufactured home revenues, resort revenues, core net operating income, Thousand Trails controllable expenses, and Thousand Trails membership products. The Compensation Committee will have discretion at the end of 2010 to determine an appropriate award based on an evaluation of each of the target areas. Payment of the remaining 50% of the bonus potential is based on an assessment of individual discretionary objectives for each eligible executive.
     Bonus payments will be made in cash and will be paid subsequent to the year ended December 31, 2010 after finalization of the Company’s results of operations and upon final approval by the Compensation Committee.

 

 

SIGNATURES
     Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  EQUITY LIFESTYLE PROPERTIES, INC.
 		  
  By:   /s/ Michael B. Berman    
    Michael B. Berman   
    Executive Vice President and
Chief Financial Officer 		  
 
Date: March 18, 2010

 

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