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CBRE GROUP, INC. 8-K Report, Executive Changes (Mar 8, 2010)

Reports
Leadership Changes·Exhibits & Filings
Filing Date
Filed March 8, 2010
Period End
March 4, 2010
Security
CBRE
In the record · 2016–202610-K1110-Q328-K149

CBRE filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 149 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Apr ’19Apr ’19
  3. Material agreement8-K · Jul ’21Jul ’21
  4. Leadership change8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed March 8, 2010. Cited figures are marked; the original filing is the authoritative source.

CB Richard Ellis Group, Inc. (CBRE) filed this Form 8-K on March 8, 2010, to report significant executive leadership changes and compensation adjustments effective March 4, 2010.

The primary focus is on the appointment of Robert E. Sulentic as President, replacing Brett White in that role, although Mr. White will continue as CEO. Gil Borok has been promoted to Chief Financial Officer, and Calvin W.

Frese, Jr. has been appointed President of Global Services. Arlin E. Gaffner has been named Chief Accounting Officer.

These leadership shifts are accompanied by adjustments to executive compensation. Notably, Mr. Sulentic received a $100,000a increase to his base salary, performance award target, and equity grant.

Executive base salaries, which were reduced in 2009, are set to be restored on June 27, 2010. Additionally, CEO Brett White was granted a special retention award of 552,282 restricted stock units, valued at approximately $7.5 millionb, vesting in five years, designed to align his interests with shareholders and incentivize his continued tenure.

02—Key points

Key Highlights

  1. Robert E. Sulentic appointed President, relinquishing CFO role.
  2. Gil Borok promoted to Chief Financial Officer.
  3. Brett White remains Chief Executive Officer but relinquishes the title of President.
  4. Calvin W. Frese, Jr. appointed President—Global Services.
  5. Arlin E. Gaffner appointed Chief Accounting Officer.
  6. Robert E. Sulentic's base salary, performance award target, and equity grant increased by $100,000.
  7. CEO Brett White received a $7.5 million restricted stock unit award vesting in five years as a retention incentive.

03—Questions

Frequently Asked Questions

  1. What are the key executive leadership changes announced by CBRE?

    The company announced that Robert E. Sulentic has been appointed President, while Brett White remains Chief Executive Officer. Gil Borok is the new Chief Financial Officer, Calvin W. Frese, Jr. is the President of Global Services, and Arlin E. Gaffner is the Chief Accounting Officer.

  2. How has Robert E. Sulentic's compensation changed with his promotion to President?

    Mr. Sulentic received a $100,000 increase to his annual base salary, his annual performance award target, and his annual equity grant.

  3. What is the significance of the restricted stock unit award granted to CEO Brett White?

    The award, valued at approximately $7.5 million, is a special retention incentive designed to align Mr. White's interests with shareholders and encourage him to remain with the company for at least five years. It vests entirely in five years and includes provisions for accelerated vesting in certain circumstances, such as a change of control.

  4. When will executive base salaries return to their full amounts?

    The executive base salaries, which were subject to reductions in 2009, are scheduled to be restored to their full amounts on June 27, 2010.

04—Continue

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