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SITE Centers (SITC) has shared an announcement.
SITE Centers Corp. is preparing for the spin-off of Curbline Properties Corp. by entering into Assigned Employment Agreements with its top executives, ensuring a smooth transition of their roles to Curbline. Executives will continue their current roles until the spin-off date, after which they will serve similar roles at Curbline, with the possibility of continuing services for SITE Centers as well. The agreements cover employment and compensation arrangements, including the shift of annual performance-based equity awards to Curbline’s new incentive plan with a slightly extended performance period and the flexibility to receive awards in different forms. Additionally, the 2024 annual cash incentives will be shared between SITE Centers and Curbline, reflecting their performance contributions to both entities.
Learn more about SITC stock on TipRanks’ Stock Analysis page.
