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Quotes & Info
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| APO > SEC Filings for APO > Form 8-K on 23-Mar-2009 | All Recent SEC Filings |
23-Mar-2009
Change in Directors or Principal Officers
(d) Appointment of Trustee
On March 18, 2009, Ross B. Levin was appointed as a trustee of American Community Properties Trust ("ACPT" or the "Company) to fill a vacancy on the Board of Trustees, effective March 18, 2009 for a term that will expire at the 2011 Annual Meeting of the Shareholders. ACPT's Nominating and Corporate Governance Committee recommended Mr. Levin be appointed as a trustee of ACPT and to serve as a member of the Audit Committee of the Board of Trustees. Mr. Levin meets the requirements of the NYSE Amex (formerly known as the American Stock Exchange) for service as an independent trustee.
Ross B. Levin is a securities analyst for Arbiter Partners, LP, a private investment partnership managed by Paul J. Isaac. Mr. Levin has served Arbiter Partners, LP since June 2005. Prior to that, Mr. Levin was an agent for the Hogan Companies, a land development and brokerage firm headquartered in Annapolis, Maryland, from May 2004 to March 2005, where he brokered land acquisitions for regional and national builders as well as analyzed land development opportunities for the firm's account. Mr. Levin has been a member of the New York Society of Securities Analysts since 2006.
In connection with his election, Mr. Levin will be entitled to receive the standard remuneration provided to the Company's non-management trustees. This remuneration includes a quarterly cash retainer in the amount of $10,000 and an annual grant of restricted shares valued at $30,000 based on the terms of the Company's share incentive plan, which shall entitle the holder to any dividends declared on the Company's common shares and shall become fully vested on the first anniversary of the grant date.
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