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H&R REIT announces nomination of new trustees and adoption of new compensation program
H&R REIT announces nomination of new trustees and adoption of new compensation program...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nH&R REIT announces nomination of new trustees and adoption of new compensation program\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nH&R REIT announces nomination of new trustees and adoption of new compensation program\nCanada NewsWire\nTORONTO, May 23, 2017\n\n\n\nTORONTO, May 23, 2017 /CNW/ - H&R Real Estate Investment Trust (\"H&R\" or the \"REIT\") and H&R Finance Trust (together with the REIT, the \"Trusts\") (TSX: HR.UN; HR.DB.D; and HR.DB.H) have provided unitholders with access to the joint management information circular (the \"Circular\") in connection with the upcoming annual meetings (the \"Meetings\") of the Trusts to be held on Monday, June 19, 2017 at 1:00 p.m. (Toronto time) at the TSX Gallery, 130 King Street West, Toronto, Ontario.\n\nAs further described in the Circular, the Board of Trustees of the REIT is pleased to announce that Alex Avery and Juli Morrow have been nominated as trustees of the REIT. Mr. Avery and Ms. Morrow will bring valuable experience and insight to the Board and will assist the REIT in continuing to bring value to unitholders. Additional biographical information in respect of Mr. Avery and Ms. Morrow is included in the Circular and is excerpted below. With these two nominations and the election of Stephen Sender as a trustee last year, the REIT's Board will grow to 8 trustees. At the 2016 annual general meeting, the REIT adopted a 10‑year term limit policy for new trustees and a 5‑year term limit for the independent trustees elected before 2016.\n\nAs previously announced, H&R has also adopted a \"say-on-pay\" vote with respect to its compensation practices. In November 2016, the Board retained Willis Towers Watson, a leading executive compensation consulting firm, to provide independent advice on the design and implementation of a new compensation program for executives. As a result of this independent review, the Board has adopted a new, market-aligned compensation program for 2017, as described in detail in the Circular. Highlights include:\n\n\nMarket-aligned annual salaries w...