8-KLeadership Changes

REALTY INCOME CORP 8-K Report, Executive Changes (Dec 13, 2007)

Filed December 13, 2007For Securities:O

Summary

This 8-K filing from Realty Income Corporation (O), dated December 12, 2007, announces a significant addition to its Board of Directors. Priya Cherian Huskins has been elected to the Board, bringing the total number of directors to ten and increasing the number of independent directors to eight. This move enhances the Board's independence, which is a positive signal for corporate governance and investor confidence. Ms. Huskins' appointment is noteworthy due to her extensive experience in corporate governance, risk management, and legal matters, having served as a partner at Woodruff-Sawyer & Co. and previously as an attorney at Wilson Sonsini Goodrich & Rosati. Her background is expected to contribute valuable expertise to the Board, particularly in advising public companies on critical issues. Furthermore, as part of her directorship, Ms. Huskins will serve on the Nominating/Corporate Governance Committee and has been granted 4,000 shares of common stock, which will vest over three years, aligning her interests with those of shareholders.

Key Highlights

  • 1Realty Income Corporation elected Priya Cherian Huskins to its Board of Directors on December 11, 2007.
  • 2The addition of Ms. Huskins increases the total number of directors to ten.
  • 3The number of independent directors on the Board now stands at eight.
  • 4Ms. Huskins has been appointed to serve on the Nominating/Corporate Governance Committee.
  • 5Ms. Huskins brings significant experience in risk management, corporate advising, and legal matters from her roles at Woodruff-Sawyer & Co. and Wilson Sonsini Goodrich & Rosati.
  • 6Ms. Huskins received a grant of 4,000 shares of common stock, vesting over three years, as part of her directorship.
  • 7The filing confirms no undisclosed arrangements, family relationships, or significant transactions between Ms. Huskins and the Company.

Frequently Asked Questions

Priya Cherian Huskins is a new director elected to Realty Income's Board. She was chosen for her extensive business and legal experience, particularly in advising public companies on risk management and corporate governance. She is a partner and senior vice president at Woodruff-Sawyer & Co., an insurance brokerage, and previously worked as an attorney at Wilson Sonsini Goodrich & Rosati.

Ms. Huskins' election brings the total number of directors on Realty Income's Board to ten. Importantly, it increases the number of independent directors to eight, strengthening the Board's independence and its oversight capabilities.

Ms. Huskins has been appointed to serve on the Company's Nominating/Corporate Governance Committee. This role is crucial for overseeing director nominations and corporate governance practices.

Yes, upon her election, Ms. Huskins automatically received a grant of 4,000 shares of Realty Income's common stock. These shares are subject to a three-year vesting schedule, meaning they will vest evenly over that period, aligning her long-term incentives with those of the company's shareholders.