CIM Real Estate Finance Trust Grants Equity to Independent Director as Part of Annual Retainer

CIM Real Estate Finance Trust, Inc., a non-traded real estate investment trust, has granted 13,136 shares of restricted common stock to independent director Howard A. Silver. The equity award, dated October 1, 2024, forms part of the company’s annual retainer program for independent board members. According to the filing, the shares were awarded at no purchase price, aligning with the company's 2022 Equity Incentive Plan.

This allocation is part of a broader effort by CIM Real Estate Finance Trust to align the interests of its board members with shareholders. The shares granted to Mr. Silver are subject to vesting conditions and will fully vest on October 1, 2025. Following this transaction, Mr. Silver’s total beneficial ownership of the company’s common stock stands at approximately 63,792 shares, all held directly.

The award underlines the company's practice of providing performance-based compensation to independent directors. Such stock grants typically aim to ensure that directors have a personal stake in the company's long-term success. These restricted stock units encourage the director's ongoing involvement in the company's governance while promoting value creation over time.

While the company’s stock is not publicly traded, equity awards like these are standard for companies that operate similarly, providing financial benefits and incentives to board members. The details of the transaction reveal that Mr. Silver's new shareholding reflects his continued role as an independent overseer of CIM Real Estate Finance Trust’s operations and strategic direction.

Mr. Silver’s new allocation follows standard practices within the company, representing an alignment with broader governance trends. Equity awards are a common approach for companies aiming to attract and retain experienced directors while providing them with a vested interest in the company’s growth and performance.