Form 4: SITE Centers Corp. Executive Sells Shares to Cover Tax Obligations

John M. Cattonar, EVP & Chief Investment Officer of SITE Centers Corp., disposed of 2,766 common shares on May 11, 2024, to satisfy tax obligations.

Summary

• On May 11, 2024, John M. Cattonar, the EVP & Chief Investment Officer of SITE Centers Corp., disposed of 2,766 common shares.
• The transaction was executed at a price of $13.92 per share.
• This disposal was to cover tax obligations.
• Following the transaction, Mr. Cattonar beneficially owns 125,245 common shares.
• Mr. Cattonar also has 70.3949 additional restricted stock units (RSUs) accrued on an exempt basis due to dividend equivalents reinvestment from an RSU award made on May 11, 2021.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reflects a routine transaction for tax purposes and doesn't inherently indicate positive or negative prospects for the company.

Industry Context

Executive share disposals are a common occurrence, often related to tax obligations or portfolio diversification. The impact on the stock price is usually minimal unless the transaction involves a significant number of shares or signals a change in the executive's confidence in the company's future prospects.

Comparison to Industry Standards

• Executive compensation and share ownership structures vary across the REIT industry.
• Comparing SITE Centers Corp.'s executive compensation and share ownership with peers like Simon Property Group (SPG) or Regency Centers Corporation (REG) could provide additional context.
• However, without detailed compensation data for these companies, a direct comparison is difficult.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates