8-K 1 htm_53603.htm LIVE FILING RAIT Financial Trust (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   May 23, 2016

RAIT Financial Trust
__________________________________________
(Exact name of registrant as specified in its charter)

     
Maryland 1-14760 23-2919819
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
Two Logan Square, 100 North 18th Street, 23rd Floor, Philadelphia, Pennsylvania   19103
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   (215) 207-2100

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On May 23, 2016, the Compensation Committee of the Board of Trustees of RAIT Financial Trust (“RAIT”) approved a retention award (the “Award”) of 161,290 RAIT common shares of beneficial interest (the “Common Shares”) to Scott L. N. Davidson, RAIT’s President, under the terms of the RAIT Financial Trust 2012 Incentive Award Plan. The Common Shares subject to the Award vest 25% on the date of grant and 25% per annum on the first three anniversaries of the date of grant and also vest upon Mr. Davidson’s separation from service for “Good Reason” as defined in the Award. The above summary of the Award does not purport to be complete and is qualified in its entirety by the Award attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.

Item 5.07 Submission of Matters to a Vote of Security Holders.

At RAIT’s Annual Meeting of Shareholders held on May 24, 2016, pursuant to the Notice of Annual Meeting of Shareholders and Proxy Statement dated April 14, 2016, the voting results were as follows:

  (a)   Proposal 1. Each of the following nominees was elected to the Board of Trustees as follows:

                                                                                                                                                                                 
 
                                                                                                                                                                               
 
                                                                                                                                                                               
Trustee               Votes For               Votes Against               Votes Abstain                 Broker Non-Vote
                                                                 
Scott F. Schaeffer
                            50,659,363                                           1,773,403                                           157,530                                           31,986,656              
Andrew Batinovich
                            50,484,296                                           1,856,493                                           249,506                                           31,986,657              
Edward S. Brown
                            50,449,289                                           1,879,324                                           261,682                                           31,986,657              
Frank A. Farnesi
                            50,748,992                                           1,604,252                                           237,052                                           31,986,656              
S. Kristin Kim
                            50,733,325                                           1,555,559                                           301,410                                           31,986,657              
Michael J. Malter
                            50,858,780                                           1,444,150                                           287,365                                           31,986,656    
 
 
Jon C. Sarkisian
                            50,553,281                                           1,741,037                                           295,977                                           31,986,656              
Andrew M.
Silberstein
 
  		 
  		 
  		 
  		 
  		 
  		 
50,617,037 		 
  		 
  		 
  		 
  		 
  		 
  		 
  		 
  		 
  		 
1,677,609 		 
  		 
  		 
  		 
  		 
  		 
  		 
  		 
  		 
  		 
295,649 		 
  		 
  		 
  		 
  		 
  		 
  		 
  		 
  		 
  		 
31,986,656 		 
  		 
  		 
 
Murray Stempel, III
                            50,441,242                                           1,844,593                                           304,459                                           31,986,657              

(b)   Proposal 2. The proposal to approve the selection of KPMG LLP as RAIT’s independent registered public accounting firm for the fiscal year ending December 31, 2016 was approved as follows:

                                             
 
                                           
 
                                           
Votes for
                            79,225,339              
Votes against
                            5,005,515              
Votes abstain
                            346,098              
Broker non-votes
                            0    
 
 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The exhibits filed as part of this Current Report on Form 8-K are identified in the Exhibit Index immediately following the signature page of this report. Such Exhibit Index is incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    RAIT Financial Trust
          
May 25, 2016   By:   /s/ James J. Sebra
       
        Name: James J. Sebra
        Title: Chief Financial Officer and Treasurer

Exhibit Index


     
Exhibit No.   Description
 
10.1
  Share Award Grant Agreement dated as of May 23, 2016 from RAIT Financial Trust to Scott L.N. Davidson under the terms of the RAIT Financial Trust 2012 Incentive Award Plan.