Business Context and Reporting Period
This Form 8-K is a current report filed by Consolidated-Tomoka Land Co. (not CTO Realty Growth, Inc.) on January 5, 2010, regarding events occurring on January 4, 2010. The company is incorporated in Florida and operates as a real estate entity.
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 and contains no financial performance data.
Material Changes
The material change reported is the immediate resignation of John C. Myers, III, from the Board of Directors. Mr. Myers had served as a director since 2006 and was a member of the Governance Committee. The resignation was not due to any disagreement with the Company. Allen C. Harper was appointed to replace Mr. Myers on the Governance Committee.
Outlook and Management Commentary
The Board intends to nominate a director to replace Mr. Myers at the 2010 annual meeting of shareholders, expected to be held on April 28, 2010. Proxy materials are expected to be mailed to shareholders beginning on or around March 26, 2010. No other risks, contingencies, or unusual items were disclosed in this filing.
Key Facts for Investors to Verify
- Confirm the identity of the nominee selected to replace John C. Myers, III, on the full Board of Directors.
- Verify the date and details of the 2010 annual meeting of shareholders.
- Review the upcoming proxy statement for the full slate of Class I director nominations.