Business Context and Reporting Period
This Form 8-K Current Report was filed by CareTrust REIT, Inc. on September 19, 2025. The filing discloses significant changes in executive leadership, specifically the resignation of the Chief Financial Officer and the appointment of a successor.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
- Resignation of CFO: William M. Wagner notified the Company of his retirement as Chief Financial Officer and Treasurer, effective December 31, 2025. He will remain employed during a brief transition period.
- Appointment of New CFO: Derek Bunker was appointed to succeed Mr. Wagner as Chief Financial Officer and Treasurer, effective January 1, 2026.
- Background: Mr. Bunker previously served as Senior Vice President of Strategy and Investor Relations (since June 2025) and as a consultant regarding the acquisition of Care REIT plc.
Compensation and Management Commentary
The Compensation Committee approved the following compensation package for Mr. Bunker, effective January 1, 2026:
- Base Salary: Increased to $475,000 annually.
- Short-Term Incentive: Target of $700,000 for 2026, payable based on specified performance metrics.
- Long-Term Incentive: Target of $750,000 for 2026, split between time-based and performance-based equity awards.
- Indemnification: Mr. Bunker will enter into a standard indemnification agreement with the Company.
The filing notes there are no family relationships between Mr. Bunker and other directors or officers, and no undisclosed related party transactions.
Investor Verification Checklist
- Verify the exact transition timeline between Mr. Wagner's departure (December 31, 2025) and Mr. Bunker's start date (January 1, 2026).
- Review the specific performance metrics for the 2026 short-term and long-term incentive plans once established by the Compensation Committee.
- Confirm the terms of the equity awards for the long-term incentive program when granted alongside other executive officers.
- Check for any subsequent filings regarding the interim CFO responsibilities during the transition period.