Business Context and Reporting Period
This Form 8-K is a current report filed by Community Healthcare Trust Inc on January 3, 2020. The filing discloses amendments to the employment agreements of four senior executives, effective as of January 1, 2020. The company is incorporated in Maryland and its common stock trades on the New York Stock Exchange under the symbol CHCT.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation adjustments.
Material Changes Versus Prior Period
The primary material change reported is the increase in base salaries for the following executives for the 2020 fiscal year compared to 2019:
- Timothy G. Wallace (President and CEO): Base salary increased from $540,000 to $645,000 (an increase of $105,000).
- David H. Dupuy (EVP and CFO): Base salary increased from $350,000 to $392,000 (an increase of $42,000).
- W. Page Barnes (EVP and COO): Base salary increased from $328,000 to $370,400 (an increase of $42,400).
- Leigh Ann Stach (EVP and Chief Accounting Officer): Base salary increased from $266,000 to $326,800 (an increase of $60,800).
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on business strategy, or discussion of risks and contingencies. The amendments were authorized by the Board of Directors on October 31, 2019, at the recommendation of the compensation committee.
Investor Verification Checklist
- Verify the total annualized cost increase of $250,200 for the four executives.
- Review the full text of the employment agreement amendments (Exhibits 10.1 through 10.4) for details on performance metrics or other compensation components not summarized here.
- Confirm the effective date of January 1, 2020, for accounting and payroll purposes.