UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Resignation of Executive Officer
On August 16, 2023, Dean A. Shigenaga, President and Chief Financial Officer of Alexandria Real Estate Equities, Inc. (the “Company”), submitted his resignation from all of his positions with the Company and its subsidiaries for important personal family health reasons, effective September 15, 2023. Following the effectiveness of Mr. Shigenaga’s resignation, it is expected that he will continue to assist the Company with transitional matters and ongoing as a strategic consultant.
Mr. Shigenaga had served as President since January 2021 and Chief Financial Officer since December 2004, and had been employed by the Company in various positions since 2000. The board of directors of the Company (the “Board”) thanks Mr. Shigenaga for his many years of valuable and strategic leadership and service to the Company and looks forward to continuing the long-term relationship in a new strategic role as a consultant.
Election of Executive Officer
On August 17, 2023, the Board elected Marc E. Binda as Chief Financial Officer and Treasurer, effective September 15, 2023. Mr. Binda, age 47, has served as Executive Vice President – Finance & Treasurer since June 2019. Mr. Binda previously served as Senior Vice President – Finance & Treasurer since April 2018, as Senior Vice President – Finance since April 2012, and in other capacities from January 2005 to April 2012. Since joining the Company, Mr. Binda has served in a variety of positions of increasing responsibility within the finance and accounting functions. Mr. Binda currently oversees the Company’s treasury strategies and risk management, balance sheet management, financial projections, capital planning, debt financing, and other capital market transactions and provides business and technical advice on unique and complex real estate, joint venture, and leasing transactions. Prior to joining the Company, Mr. Binda was a Financial Reporting Manager at Watt Centro Management JV, LP, where he was responsible for accounting, finance, and treasury matters, REIT compliance, debt compliance, and U.S. and Australian GAAP reporting. Prior to joining Watt, Mr. Binda was a manager in Ernst & Young LLP’s Real Estate Advisory Business Services group, where he served three publicly traded REITs and other public and private companies. Mr. Binda is a certified public accountant and received his Bachelor of Science degree in Accounting from California Lutheran University.
The Company expects to enter into an amendment to its employment agreement with Mr. Binda pursuant to his election as Chief Financial Officer and Treasurer, and, to the extent there are any material changes, will disclose the terms of any such amendment by an amendment to this Current Report on Form 8-K.
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.
| ALEXANDRIA REAL ESTATE EQUITIES, INC. | ||
| August 17, 2023 | By: | /s/ Dean A. Shigenaga |
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Dean A. Shigenaga | ||
| President and Chief Financial Officer | ||