Business Context and Reporting Period
This Form 8-K Current Report was filed by Grubb & Ellis Healthcare REIT, Inc. on March 13, 2009. The filing addresses Item 5.02 regarding the departure of a senior officer and the subsequent appointment of a replacement.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel changes rather than financial performance data.
Material Changes
- Resignation: Shannon K. S. Johnson resigned as Chief Financial Officer (CFO) effective March 13, 2009.
- Continued Service: Ms. Johnson will continue to provide non-exclusive services as a Financial Reporting Manager for Grubb & Ellis Realty Investors, LLC, the managing member of the Company's financial advisor.
- Appointment: On March 17, 2009, the Board of Directors appointed Kellie S. Pruitt, previously the Chief Accounting Officer, to serve as the new Principal Financial Officer.
Management Commentary and Risks
The Company's self-management plan, referenced in a prior filing from November 19, 2008, explicitly contemplates the replacement of executive officers who are also officers or employees of the Advisor and its affiliates. The transition of financial reporting responsibilities remains with the Advisor, which maintains the Company's books and records and prepares SEC filings.
Investor Verification Checklist
- Verify the effective date of Kellie S. Pruitt's assumption of CFO duties (March 17, 2009).
- Review the January 30, 2009 Form 8-K for background information on Ms. Pruitt.
- Confirm the terms of the Amended and Restated Advisory Agreement regarding the Advisor's role in financial reporting.
- Monitor future filings for any impact on financial reporting timelines due to the leadership transition.