Business Context and Reporting Period
This Form 8-K Current Report was filed by Community Healthcare Trust Incorporated on January 4, 2023. The report discloses amendments to the employment agreements of four senior officers, effective as of January 1, 2023, and executed on January 3, 2023.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on executive compensation adjustments.
Material Changes
The Board of Directors authorized base salary increases for the following executives for the 2023 fiscal year:
- Timothy G. Wallace (President and CEO): Base salary increased from $794,200.00 (2022) to $863,295.00 (2023), an increase of $69,095.00.
- David H. Dupuy (EVP and CFO): Base salary increased from $487,200.00 (2022) to $529,586.00 (2023), an increase of $42,386.00.
- Leigh Ann Stach (EVP and Chief Accounting Officer): Base salary increased from $410,500.00 (2022) to $446,214.00 (2023), an increase of $35,714.00.
- Timothy L. Meyer (EVP - Asset Management): Base salary increased from $312,400.00 (2022) to $339,579.00 (2023), an increase of $27,179.00.
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary on business performance, risks, contingencies, or unusual items. The report is limited to the disclosure of the aforementioned employment agreement amendments.
Investor Verification Checklist
- Verify the total aggregate increase in annual base salary for the four executives ($174,374.00).
- Review the full text of the employment agreement amendments (Exhibits 10.1 through 10.4) for details on performance metrics, bonus structures, or severance provisions not summarized in this report.
- Confirm the effective date of the salary changes is January 1, 2023.