Retail Opportunity Investments Corp. Announces Acceleration of Restricted Stock Awards

Retail Opportunity Investments Corp. (NASDAQ: ROIC) recently disclosed in an 8-K SEC filing that on November 6, 2024, the company, along with other entities, entered into an Agreement and Plan of Merger. The agreement involved Retail Opportunity Investments Corp., Retail Opportunity Investments Partnership, LP, and various other entities. The board of directors of the company also approved changes to certain awards, specifically accelerating the vesting of restricted stock awards.

As per the 8-K filing, the performance-based restricted stock awards and time-based restricted stock awards, originally granted on February 15, 2022, for Messrs. Stuart A. Tanz, Michael B. Haines, and Richard K. Schoebel, were accelerated from January 2025 to December 26, 2024. Furthermore, the performance-based restricted stock awards were modified to be deemed achieved at maximum-level performance regardless of the terms of the award agreements. Additionally, time-based restricted stock awards issued on December 13, 2024, for the mentioned individuals were accelerated and became fully vested and taxable on December 26, 2024.

The company cautioned that the announcement contains forward-looking statements, subject to risks and uncertainties that could cause actual results to differ materially. These risks include but are not limited to the ability to complete the mergers on expected terms and timings, potential litigation, disruptions to business operations, and unforeseen events impacting merger costs or termination.

The company emphasized that the completion of the mergers is not guaranteed, and actual results may vary from the forward-looking statements. Retail Opportunity Investments Corp. has committed to providing updates on any material changes. Investors are urged to carefully review all the relevant information before making any voting or investment decisions regarding the mergers.

The detailed information about the mergers will be included in a proxy statement to be filed with the Securities and Exchange Commission (SEC). Retail Opportunity Investments Corp. will provide copies of these documents free of charge upon request. Furthermore, the company’s directors, executive officers, and employees may be involved in the solicitation of proxies and will disclose their interests in the mergers through SEC filings.

The filing was signed on behalf of Retail Opportunity Investments Corp. by Michael B. Haines, Chief Financial Officer, on December 27, 2024.

Participants in the Solicitation:
Retail Opportunity Investments Corp. may make solicitations to its stockholders regarding the mergers. More information about the participants and their interests will be included in SEC filings.

Source: SEC Filing on Retail Opportunity Investments Corp., December 27, 2024

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Retail Opportunity Investments’s 8K filing here.

Retail Opportunity Investments Company Profile

Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated, metropolitan markets across the West Coast. As of December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.