Goldman Sachs Real Estate Finance Trust Inc has expanded its board of directors to seven members, appointing Gwendolyn Hatten Butler, Trisha Miller, Glenn Rufrano, and Simon M. Turner as new independent directors, effective immediately. The board confirms that these appointments comply with their Corporate Governance Guidelines and New York Stock Exchange listing standards. The directors have no reported transactions with the company that require disclosure. They will participate in newly established audit and affiliate transaction committees, with Turner and Rufrano as chairpersons, respectively.
The company entered into indemnification agreements with the new directors, similar to those with existing directors and executives, pledging to cover expenses related to their duties, within certain limits. These directors have also provided an irrevocable letter of resignation under specified conditions.
Furthermore, the company has introduced an Independent Director Compensation Plan, which compensates directors with an annual retainer of $100,000, and additional retainers for committee chairpersons. Compensation will be paid partly in restricted stock that vests after a year, and the remainder in cash, without additional meeting attendance fees but with reimbursement for reasonable expenses.
Finally, the company has updated its share repurchase plan to redefine the holding period for the Initial Closing stockholders.
Names for clarity: - Goldman Sachs Real Estate Finance Trust Inc - Gwendolyn Hatten Butler - Trisha Miller - Glenn Rufrano - Simon M. Turner - Mallika Sinha