Business Context and Reporting Period
This Form 8-K Current Report was filed by Seaport Entertainment Group Inc. (NYSE: SEG) on April 7, 2026, covering events occurring on April 1, 2026. The filing discloses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Dismissal of Auditor: The Audit Committee dismissed KPMG LLP as the independent registered public accounting firm, effective immediately on April 1, 2026.
- Engagement of New Auditor: Grant Thornton LLP was engaged as the new independent registered public accounting firm to audit the financial statements for the year ending December 31, 2026, effective immediately.
- Audit History: KPMG's reports for the years ended December 31, 2025, and 2024 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
Management Commentary and Risks
Management confirmed that during the years ended December 31, 2025 and 2024, and the interim period through April 1, 2026, there were no disagreements with KPMG on accounting principles, financial statement disclosures, or auditing scope. Additionally, no reportable events occurred during this period. The Company also stated that no consultations were held with Grant Thornton regarding accounting principles or audit opinions prior to the engagement.
Investor Verification Checklist
- Review the letter from KPMG to the SEC (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Verify the effective date of the new audit engagement with Grant Thornton LLP.
- Monitor future filings for any restatements or changes in accounting policies resulting from the auditor transition.
- Check subsequent 10-K or 10-Q filings for the first audited financial statements prepared under the new auditor.