Form 4: SITE Centers Corp. CEO David Lukes Reports Share Disposal Following Stock Split

David Lukes, President & CEO of SITE Centers Corp., reports the disposal of shares to cover tax obligations following a reverse stock split and reinvestment of dividend equivalents.

Summary

• David R. Lukes, President & CEO of SITE Centers Corp., filed a Form 4 detailing changes in beneficial ownership.
• The filing reports the disposal of 34,206 common shares on September 11, 2024, at a price of $57.34 per share.
• This transaction was related to tax obligations.
• The filing also reflects a 1-for-4 reverse stock split that occurred prior to August 19, 2024.
• Following the reported transaction, Lukes beneficially owns 340,356 common shares.
• The filing also notes the accrual of 994.1067 additional restricted stock units (RSUs) due to dividend equivalents reinvestment.
• Lukes has a Power of Attorney appointing Tammy Battler, Jennifer Daubenspeck, Aaron Kitlowski and Jeff Scott to act on his behalf for SEC filings.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a share disposal for tax purposes, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The share disposal by the CEO could have a minor impact on shareholder sentiment, but is likely insignificant given the context of tax obligations.

Key Dates