8-K: Seaport Entertainment Group Appoints Lenah Elaiwat CFO

Seaport Entertainment Group Inc. has officially appointed Lenah Elaiwat as its Chief Financial Officer and Treasurer, formalizing her interim role.

Summary

• Seaport Entertainment Group Inc. (NYSE: SEG) announced the appointment of Lenah Elaiwat, age 42, as Chief Financial Officer and Treasurer, effective December 1, 2025.
• Ms. Elaiwat previously served as Interim Chief Financial Officer and Treasurer from September 4, 2025, and as Chief Accounting Officer from April 2024.
• She brings nearly 20 years of finance and accounting experience within the real estate sector, including senior roles at Regis Group PLC, Midwood Investment and Development, and Colony Capital Inc.
• Her employment agreement, effective November 1, 2025, sets an initial term of five years with automatic one-year renewals.
• Ms. Elaiwat's annual base salary is $450,000, with an annual cash bonus target of 75% of her base salary, based on performance goals.
• She will receive an initial equity award with an aggregate grant value of at least $192,329, consisting of restricted stock units with pro rata time vesting over three years.
• Beginning in 2026, she will be eligible for annual equity awards with a targeted grant value of 75% of her annual base salary, split between time-based and performance-based restricted stock units.
• The agreement includes provisions for severance in various termination scenarios, including enhanced benefits in the event of a Change in Control termination.

Sentiment

Score: 8

Explanation: The filing announces a key executive appointment, formalizing an interim role with a highly experienced individual. Management expresses strong confidence, and the compensation package is robust, indicating stability and a positive outlook for financial leadership.

Positives

• Formalizes the appointment of an experienced executive, Lenah Elaiwat, who has already served as Interim CFO and Chief Accounting Officer, providing continuity and stability.
• Ms. Elaiwat possesses nearly 20 years of relevant finance and accounting experience in the real estate sector, aligning with the company's business model.
• The compensation package, including a $450,000 base salary, 75% target annual bonus, and significant equity awards, is competitive and designed to attract and retain top talent.
• Management comments from CEO Matt Partridge express strong confidence in Ms. Elaiwat's expertise and leadership, highlighting her positive impact on the organization.

Future Outlook

Management expects Ms. Elaiwat to be instrumental in positioning the company for long-term success and building on current momentum in growing its real estate, hospitality, and entertainment platforms.

Management Comments

• "We are thrilled to officially appoint Lenah as the Company’s Chief Financial Officer." Matt Partridge, President and Chief Executive Officer.
• "Having worked with Lenah to develop the Company’s financial infrastructure, I’ve witnessed her depth of financial expertise, steady leadership, and the positive impact she has made throughout the organization, and I’m confident Lenah will be instrumental to SEG as we continue to position the Company for long-term success." Matt Partridge, President and Chief Executive Officer.
• "I’m honored to step into the role of Chief Financial Officer at such an exciting moment for the company." Lenah Elaiwat, Chief Financial Officer.
• "I’m proud of the progress our exceptional team has made so far in shaping SEG’s next chapter, and I am grateful for the opportunity to build on our momentum in this new position as we continue to grow our real estate, hospitality, and entertainment platforms." Lenah Elaiwat, Chief Financial Officer.

Industry Context

Seaport Entertainment Group operates at the intersection of entertainment and real estate, focusing on developing unique assets that integrate restaurant, entertainment, sports, retail, and hospitality offerings. The appointment of a seasoned CFO with extensive real estate finance experience is a strategic move to strengthen financial leadership in this specialized sector.

Management Changes

Corporate Governance

Related Party Transactions

• No family relationships between Ms. Elaiwat and any other directors or executive officers.
• Ms. Elaiwat is not a party to any transaction, or any proposed transaction, required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Stakeholder Impact

• Shareholders: The formal appointment of an experienced CFO is likely to be viewed positively, signaling stability and strong financial stewardship, potentially increasing investor confidence.
• Employees: Provides clarity and stability in the company's financial leadership, which can positively impact employee morale and organizational direction.
• Customers/Suppliers: No direct immediate impact, but a strong CFO can contribute to the company's long-term financial health, indirectly benefiting business relationships.

Next Steps

• Granting of an initial equity award to Ms. Elaiwat with an aggregate value of at least $192,329 as soon as practicable following the effective date of her employment agreement.
• Eligibility for annual equity awards beginning in calendar year 2026, with a targeted grant value of 75% of her annual base salary.

Key Dates

Keywords

CFO appointment, executive leadership, corporate governance, real estate, hospitality, entertainment, executive compensation, SEC filing