CIM Real Estate Finance Trust Director Receives Equity Grant

W. Brian Kretzmer, an independent director of CIM Real Estate Finance Trust, Inc., has acquired 13,136 shares of restricted common stock, according to a recent disclosure. The transaction, dated October 1, 2024, is part of the company's annual retainer payments to its independent directors. These shares were granted as per the company’s 2022 Equity Incentive Plan and will fully vest on October 1, 2025.

The grant represents an allocation of equity intended to incentivize and retain independent board members by offering a stake in the company. The shares were issued at no cost to Kretzmer, reflecting the company’s strategy to align board members’ interests with those of shareholders through stock ownership. Following the transaction, Kretzmer now directly holds a total of 108,439 shares of the company’s common stock.

Additionally, the filing notes that Kretzmer has accumulated over 6,500 shares through CIM Real Estate Finance Trust’s distribution reinvestment plan. This plan enables shareholders to reinvest dividends and distributions into additional shares of the company, bolstering their stake without incurring additional transaction costs.

The transaction reflects common practices in corporate governance, where independent directors often receive equity compensation. This structure aims to enhance alignment between the board's oversight and the shareholders' long-term interests. Kretzmer’s equity grant is designed to reward his contributions to the company while incentivizing continued performance and involvement in its strategic direction.

The filing was submitted to the Securities and Exchange Commission (SEC) on October 1, 2024, with the signature of the attorney-in-fact for Kretzmer.