Business Context and Reporting Period
This Form 8-K Current Report was filed by Community Healthcare Trust Incorporated on January 18, 2017, covering events occurring on January 12, 2017. The filing discloses amendments to employment agreements for three senior executives, authorized by the Board of Directors on November 1, 2016, and executed on January 12, 2017.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation adjustments.
Material Changes
The primary material change is the increase in base salaries for the following executives, effective from the 2016 levels:
- Timothy G. Wallace (President and CEO): Base salary increased from $300,000 to $376,333 (an increase of $76,333).
- W. Page Barnes (Executive Vice President and CFO): Base salary increased from $150,000 to $214,333 (an increase of $64,333).
- Leigh Ann Stach (Vice President and Chief Accounting Officer): Base salary increased from $125,000 to $175,000 (an increase of $50,000).
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on financial outlook, or discussion of risks and contingencies. The changes were approved by the Board's compensation committee. The full terms of the amendments are incorporated by reference to the attached exhibits.
Investor Verification Checklist
- Verify the total annualized cost impact of the salary increases ($190,666 combined increase).
- Review the full text of the employment agreement amendments (Exhibits 10.1, 10.2, and 10.3) for details on performance bonuses, severance, or other compensation components not detailed in the summary.
- Confirm the effective date of the salary increases relative to the fiscal year.