AI English summary of an SEC filing — figures as filed
UDR UDRThe company said it appointed Richard B. Clark to its board on October 3, 2025, and that he is an independent director under New York Stock Exchange listing standards and was assigned to the Nominating and Governance Committee and the Audit and Risk Management Committee.
Key points
AI summaryThe company said it appointed Richard B. Clark to its board on October 3, 2025, and that he is an independent director under New York Stock Exchange listing standards and was assigned to the Nominating and Governance Committee and the Audit and Risk Management Committee.
The company said it increased the board from 8 to 9 directors by board resolution under its Amended and Restated Bylaws before appointing Clark. It cited the appointment as part of the long-term succession plan for director refreshment, following the departure of 2 long-tenured directors earlier in 2025.
The company said that under its independent director compensation program, each independent director other than the Lead Independent Director receives an annual retainer of $80,000 and an annual grant of restricted stock valued at $200,000. It added that, given the timing of his appointment, Clark will receive a prorated portion of the compensation.
The company said Clark held senior roles at Brookfield Corporation and its predecessors from 1984 to 2021, including Chairman and Chief Executive Officer of Brookfield Property Group. It said that under his leadership, Brookfield's real estate group grew its assets under management from $5 billion to more than $200 billion.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Richard B. Clark Appointed to Board
The company said it appointed Richard B. Clark to its board on October 3, 2025, and that he is an independent director under New York Stock Exchange listing standards and was assigned to the Nominating and Governance Committee and the Audit and Risk Management Committee.
Source · Based on the filing body and exhibits
Board Expanded from 8 to 9 Members
The company said it increased the board from 8 to 9 directors by board resolution under its Amended and Restated Bylaws before appointing Clark. It cited the appointment as part of the long-term succession plan for director refreshment, following the departure of 2 long-tenured directors earlier in 2025.
Source · Based on the filing body and exhibits
Independent Director Pay Structure and Prorated Compensation
The company said that under its independent director compensation program, each independent director other than the Lead Independent Director receives an annual retainer of $80,000 and an annual grant of restricted stock valued at $200,000. It added that, given the timing of his appointment, Clark will receive a prorated portion of the compensation.
Source · Based on the filing body and exhibits
Clark's Career Background
The company said Clark held senior roles at Brookfield Corporation and its predecessors from 1984 to 2021, including Chairman and Chief Executive Officer of Brookfield Property Group. It said that under his leadership, Brookfield's real estate group grew its assets under management from $5 billion to more than $200 billion.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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