Summary
Realty Income Corporation (O) announced on March 2, 2026, the departure of Michelle Bushore, its Executive Vice President, Chief Legal Officer, General Counsel, and Secretary. Ms. Bushore will continue in her role through September 2, 2026, a period designated as the Transition Period, during which the company will search for her successor. Ms. Bushore's departure is classified as a "Qualifying Termination" under the Company's Executive Severance Plan. She will receive benefits and payments as outlined in the plan and her participation agreement, contingent upon executing a general release of claims. Furthermore, Ms. Bushore will receive a retention grant valued at approximately $512,663, based on Realty Income's common stock closing price on February 26, 2026. This grant will fully vest upon completion of the Transition Period, provided she fulfills her obligations and executes the necessary release agreements. The company has also issued a press release regarding this personnel change.
Key Highlights
- 1Departure of Executive Vice President, Chief Legal Officer, General Counsel and Secretary, Michelle Bushore.
- 2Ms. Bushore will remain with the company through September 2, 2026, to ensure a smooth transition.
- 3Her departure is categorized as a "Qualifying Termination" under the Company's Executive Severance Plan.
- 4Ms. Bushore is eligible for benefits and payments under the Severance Plan, subject to a general release of claims.
- 5A retention grant of restricted shares, valued at approximately $512,663 based on the February 26, 2026 closing price, will be awarded.
- 6The retention grant vests upon completion of the Transition Period and satisfaction of release and performance conditions.
- 7The company is actively searching for a new Chief Legal Officer.