Business Context and Reporting Period
This Form 8-K Current Report is filed by CareTrust REIT, Inc. (CTRE) on December 30, 2024, with the earliest event reported dated January 2, 2025. The filing primarily addresses a change in senior management regarding the appointment of a new Chief Accounting Officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on personnel changes and compensation details rather than financial performance data.
Material Changes
The material change disclosed is the appointment of Lauren Beale as Senior Vice President, Chief Accounting Officer, effective January 1, 2025. She succeeds William M. Wagner in the role of principal accounting officer, though Mr. Wagner will continue to serve as Chief Financial Officer and Treasurer.
Management Commentary and Compensation Details
- Appointment: Lauren Beale, age 37, was promoted from Senior Vice President, Controller (a role held since February 2021) to Chief Accounting Officer.
- Base Salary: The Compensation Committee approved an annual base salary increase to $355,500.
- Annual Bonus: A 2025 cash incentive bonus target of $289,733 was approved, payable between 75% and 125% of target based on performance metrics.
- Equity Award: Ms. Beale received an award of 14,262 shares of restricted stock, vesting in three equal annual installments beginning January 31, 2026.
- Indemnification: Ms. Beale will enter into a standard indemnification agreement with the Company.
Investor Verification Checklist
- Verify the effective date of the Chief Accounting Officer transition (January 1, 2025).
- Confirm the total compensation package details, including the specific vesting schedule for the 14,262 restricted stock shares.
- Review the press release (Exhibit 99.1) for any additional context regarding the leadership transition.
- Note that this filing contains no financial performance data; refer to the most recent 10-Q or 10-K for financial metrics.