New York City REIT Announces Re-Election of Elizabeth Tuppeny to Board of Directors

Rhea-AI Summary

New York City REIT, Inc. (NYSE: NYC) announced the re-election of Elizabeth Tuppeny to its Board of Directors during the Annual Meeting of Stockholders on May 31, 2022. Her extensive experience is expected to enhance the company’s value for shareholders, according to Michael Weil, Chairman and CEO. Additionally, shareholders ratified PricewaterhouseCoopers LLP as the independent auditor for fiscal 2022, did not approve an advisory vote on executive compensation, and approved a yearly advisory vote frequency for executive compensation assessments. Full details will be reported in a Form 8-K.

Positive

• Re-election of Elizabeth Tuppeny brings experienced leadership to the Board.
• Ratification of PricewaterhouseCoopers LLP as auditor ensures reliability in financial oversight.

Negative

• The failure to approve an advisory vote on executive compensation may lead to shareholder dissatisfaction.

Reports Other Annual Meeting Voting Results

NEW YORK--(BUSINESS WIRE)-- New York City REIT, Inc. (NYSE: NYC) (“NYC” or the “Company”) announced today that, based on a preliminary vote count by its proxy solicitor, Elizabeth Tuppeny has been decisively re-elected to the Company’s Board of Directors.

Michael Weil, Chairman and CEO of NYC, said, “We are very pleased that our shareholders have re-elected Elizabeth Tuppeny to the Board. Elizabeth has been an outstanding director, and her substantial experience and expertise will continue to help NYC drive value for shareholders.”

At the Company’s Annual Meeting of Stockholders held on May 31, 2022, NYC’s shareholders also:

• Ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for fiscal year 2022;
• Did not approve a proposal regarding an advisory vote on the Company’s executive compensation; and
• Approved a period of one year for a proposal regarding the frequency of the advisory vote on executive compensation.

The preliminary vote count is subject to certification by the Independent Inspector of Elections. Additional information regarding the results of the 2022 Annual Meeting of Stockholders will be available in a Form 8-K current report filed with the Securities and Exchange Commission.

About New York City REIT, Inc.
New York City REIT, Inc. is a publicly traded REIT that owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City. Additional information about NYC can be found on its website at www.newyorkcityreit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220531005643/en/

Media Contacts

Jonathan Gasthalter/Mark Semer

Gasthalter & Co.

(212) 257-4170

Source: New York City REIT, Inc.

FAQ

Who was re-elected to the Board of Directors of New York City REIT in May 2022?

Elizabeth Tuppeny was re-elected to the Board of Directors.

What significant decisions were made at the New York City REIT Annual Meeting on May 31, 2022?

Shareholders ratified PricewaterhouseCoopers LLP as the auditor, did not approve an advisory vote on executive compensation, and approved a yearly frequency for such votes.

What is the stock symbol for New York City REIT?

The stock symbol for New York City REIT is NYC.

What impact might Elizabeth Tuppeny's re-election have on New York City REIT?

Her re-election is expected to drive value for shareholders due to her substantial experience.

When will the final results of the New York City REIT Annual Meeting be available?

Final results will be reported in a Form 8-K after certification by the Independent Inspector of Elections.