RMR Mortgage Trust Announces Annual Meeting Results

Rhea-AI Summary

RMR Mortgage Trust (Nasdaq:RMRM) held its 2021 Annual Meeting, where Adam D. Portnoy and Jeffrey P. Somers were re-elected as Managing and Independent Trustees, respectively, with 74.8% and 77.5% support. Shareholders approved the 2021 Equity Compensation Plan (78.8%) and executive compensation (79.3%) via advisory votes. Notably, the frequency for future advisory votes on executive compensation was set at every 3 years, receiving only 47.9% approval. Additionally, Deloitte & Touche LLP was ratified as the independent auditors for the 2021 fiscal year (93.9%).

Positive

• Adam D. Portnoy re-elected with 74.8% shareholder support.
• Jeffrey P. Somers re-elected with 77.5% shareholder support.
• 2021 Equity Compensation Plan approved with 78.8% support.
• Executive compensation approved with 79.3% support.
• Deloitte & Touche LLP ratified as auditors with 93.9% approval.

Negative

• Future advisory votes on executive compensation set for every 3 years received only 47.9% approval.

RMR Mortgage Trust (Nasdaq:RMRM) today announced the results of its 2021 Annual Meeting of Shareholders which was held today.

Adam D. Portnoy was re-elected as a Managing Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:

Trustee		Percentage of Shares Voted – For
Adam D. Portnoy		74.8%

Jeffrey P. Somers was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Trustee is as follows:

Trustee		Percentage of Shares Voted – For
Jeffrey P. Somers		77.5%

Shareholders approved the RMR Mortgage Trust 2021 Equity Compensation Plan. The final tabulation of the percentage of shareholders’ votes cast for this proposal is as follows:

Proposal		Percentage of Shares Voted – For
Approval of Equity Compensation Plan		78.8%

Shareholders voted to approve executive compensation by means of an advisory vote:

Proposal		Percentage of Shares Voted – For
Approval of Equity Compensation		79.3%

Shareholders voted to approve the frequency of future advisory votes to approve executive compensation be set to every 3 years by means of an advisory vote:

Proposal		Percentage of Shares Voted – For
Frequency of Executive		47.9%
Compensation Advisory Vote

Shareholders ratified the appointment of Deloitte & Touche LLP as RMRM’s independent registered public accounting firm for the 2021 fiscal year. The final tabulation of the percentage of shareholders’ votes cast for this proposal is as follows:

Proposal		Percentage of Shares Voted – For
Ratification of Independent Auditors		93.9%

RMR Mortgage Trust (Nasdaq:RMRM) is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. RMRM is managed by an affiliate of The RMR Group Inc. (Nasdaq:RMR). Substantially all of RMR’s business is conducted by its majority owned subsidiary, The RMR Group LLC, which is an alternative asset management company with $32 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about RMRM, please visit www.rmrmortgagetrust.com.

A Maryland Statutory Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210527005915/en/

FAQ

What were the results of the RMR Mortgage Trust 2021 Annual Meeting?

The RMR Mortgage Trust 2021 Annual Meeting re-elected Adam D. Portnoy and Jeffrey P. Somers as Trustees, approved the 2021 Equity Compensation Plan and executive compensation, and ratified Deloitte & Touche LLP as auditors.

How many shares supported the approval of RMRM's 2021 Equity Compensation Plan?

The RMR Mortgage Trust 2021 Equity Compensation Plan was approved with 78.8% of shares voted for it.

What percentage of votes were cast in favor of executive compensation at RMRM?

The approval of executive compensation received 79.3% support from shareholders.

What was the outcome of the advisory vote on executive compensation frequency at RMRM?

The advisory vote to set the frequency of executive compensation approval to every 3 years received only 47.9% support.

Who was ratified as the independent auditors for RMRM?

Deloitte & Touche LLP was ratified as the independent auditors for RMR Mortgage Trust for the 2021 fiscal year with 93.9% approval.