UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
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CIM Commercial Trust Corporation
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Director
On November 22, 2022, the Board of Directors (the “Board”) of Creative Media & Community Trust Corporation (the “Company”) appointed John Hope Bryant to the Board, effective immediately, to fill the vacancy created by the passing of Mr. Kelly Eppich.
Mr. Bryant was selected to serve as a director because of his experience as an entrepreneur and a real estate investor, his leadership skill and his deep connections to the community, all of which are expected to bring valuable insight to the Board.
As compensation for his service as a director on the Board for the remainder of the 2022-2023 term, Mr. Bryant will receive in cash a pro-rata portion of the annual retainer valued at $110,000 paid by the Company to its independent directors for such term. The Company expects to enter into an indemnification agreement with Mr. Bryant in substantially the form filed as Exhibit 10.9 to the Company’s Quarterly Report on Form 10-Q filed on August 11, 2014, consistent with similar agreements between the Company and its other directors.
There is no arrangement or understanding between Mr. Bryant and any other person pursuant to which he was selected as a director of the Company, and there is no family relationship between Mr. Bryant and any of the Company’s other directors or executive officers. Mr. Bryant does not have a material interest in any transaction that is required to be disclosed under Item 404(a) of Regulation S-K of the Securities Exchange Act of 1934, as amended.
On November 22, 2022, the Company issued a press release announcing the election of Mr. Bryant to the Board. A copy of the press release is furnished herewith as Exhibit 99.1.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Exhibit No. | Description |
99.1 | Press release issued by the Company on November 22, 2022. |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
CREATIVE MEDIA & COMMUNITY TRUST CORPORATION | ||
Dated: November 25, 2022 | By: | /s/ David Thompson |
David Thompson | ||
Chief Executive Officer |