Business Context and Reporting Period
This Form 8-K Current Report was filed by Community Healthcare Trust Incorporated on January 3, 2019. The report discloses amendments to employment agreements for three senior officers, effective as of January 1, 2019, and authorized by the Board of Directors on November 1, 2018.
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 Versus Prior Period
The primary material change is the increase in base salaries for three key executives for the 2019 fiscal year compared to 2018:
- Timothy G. Wallace (President and CEO): Base salary increased from $458,167.00 in 2018 to $540,000.00 in 2019, an increase of $81,833.00.
- W. Page Barnes (Executive Vice President and CFO): Base salary increased from $271,167.00 in 2018 to $328,000.00 in 2019, an increase of $56,833.00.
- Leigh Ann Stach (VP and Chief Accounting Officer): Base salary increased from $220,500.00 in 2018 to $266,000.00 in 2019, an increase of $45,500.00.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, management commentary on business performance, or discussion of risks and contingencies. The document strictly details the execution of the Third Amendments to the respective employment agreements.
Investor Verification Checklist
- Verify the total annualized increase in executive compensation costs ($184,166.00 combined).
- Review the full text of the Third Amendments (Exhibits 10.1, 10.2, and 10.3) for details on performance metrics or other compensation terms not summarized in this report.
- Confirm the effective date of January 1, 2019, for accounting and accrual purposes.