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. |
As previously disclosed, Saul Scherl transitioned from his prior role as President, New York Tri-State Region and, effective January 1, 2023, continued employment during a transition period as Senior Advisor, Seaport. Mr. Scherl’s employment with Howard Hughes Holdings Inc. (the “Company”) and its affiliates has now terminated. In connection with that termination, the Company and Mr. Scherl have agreed that all of his outstanding equity incentive compensation awards will be canceled in exchange for a one-time cash payment from the Company of $1,776,891. This has an anti-dilutive effect of 133,562 stock awards.
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.
| HOWARD HUGHES HOLDINGS INC. | ||
| Date: October 19, 2023 | By: | /s/ David O'Reilly |
| Name: | David O’Reilly | |
| Title: | Chief Executive Officer | |