SEC Filing Summary: Resource Capital Corp. (Form 8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Resource Capital Corp. (the "Company") on October 20, 2009, reporting events occurring on October 16, 2009. The filing discloses the entry into a material definitive agreement regarding the Company's management structure.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on a contractual amendment rather than financial performance data.
Material Changes
On October 16, 2009, the Company entered into an amendment to its Amended and Restated Management Agreement dated June 30, 2008, with Resource Capital Manager, Inc. (the "Manager") and Resource America, Inc. Key changes include:
- The Manager will provide a Chief Financial Officer and three accounting professionals exclusively dedicated to the Company.
- The Manager will provide a director of investor relations who will be 50% dedicated to the Company.
- The Company will bear the expense of wages, salaries, and benefits for these specific personnel.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or discussion of risks and contingencies beyond the terms of the management agreement amendment. The full text of the Amendment is incorporated by reference as Exhibit 10.1.
Investor Verification Checklist
- Verify the specific compensation terms and expense allocation details in the full text of the First Amendment (Exhibit 10.1).
- Confirm the impact of the new personnel structure on the Company's operating expenses in future quarterly reports.
- Review the Company's most recent 10-Q or 10-K for actual financial metrics, as this 8-K does not contain them.