Business Context and Reporting Period
This Form 8-K filing by American Realty Capital New York City REIT, Inc. (the "Company") reports on events occurring on November 11, 2014, with the report filed on November 17, 2014. The filing addresses Item 5.02 regarding the departure of certain officers and the appointment of replacements.
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 changes and does not contain financial performance data.
Material Changes
On November 11, 2014, Edward M. Weil, Jr. resigned from his roles as Treasurer and Secretary of the Company, as well as the Company's advisor and property manager. Mr. Weil's resignation was effective immediately and was not due to any disagreement with the Company; he departed to assume the role of Chief Executive Officer at RCS Capital Corporation.
Simultaneously, the Board of Directors made the following appointments:
- Gregory W. Sullivan was appointed as Treasurer. He continues to serve as Chief Financial Officer and Chief Operating Officer.
- Michael A. Happel was appointed as Secretary. He continues to serve as President of the Company.
Both appointees also assumed the corresponding roles at the Company's advisor and property manager.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or management commentary regarding future financial performance. No risks, contingencies, or unusual items were disclosed in this specific report. The document confirms there are no reportable related party transactions involving the new appointees under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective date of Edward M. Weil, Jr.'s resignation (November 11, 2014).
- Confirm the new leadership structure: Gregory W. Sullivan (Treasurer) and Michael A. Happel (Secretary).
- Review the professional backgrounds of the new officers, specifically Mr. Sullivan's prior roles at STAG Industrial and Mr. Happel's experience at Morgan Stanley and Atticus Capital.
- Note that this filing does not impact the Company's financial statements or operational metrics.