Business Context and Reporting Period
This Form 8-K is a current report filed by Empire State Realty Trust, Inc. and Empire State Realty OP, L.P. on May 21, 2019. The filing discloses a material change in executive leadership rather than periodic financial results.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes.
Material Changes
- Executive Departure: David A. Karp is stepping down as Executive Vice President and Chief Financial Officer for both the Company and the Operating Partnership.
- Effective Date: The departure is effective August 1, 2019.
- Reason: The departure is for personal reasons and is not the result of any disagreement with the Company regarding operations, policies, or practices.
- Interim Leadership: Andrew J. Prentice, Chief Accounting Officer and Treasurer, will serve as acting Chief Financial Officer during the search for a permanent successor.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of risks and contingencies. The only disclosed contingency is the transition of the CFO role, which management has addressed by appointing an interim successor.
Investor Verification Checklist
- Confirm the timeline for the search and appointment of a permanent Chief Financial Officer.
- Review the attached press release (Exhibit 99.1) for additional details on Mr. Karp's tenure and future plans.
- Monitor subsequent filings for the appointment of the permanent CFO and any related compensatory arrangements.