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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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): June 8, 2022

 

ACRES Commercial Realty Corp.

(Exact name of registrant as specified in its charter)

 

Maryland

 

1-32733

 

20-2287134

(State or other jurisdiction of

 

(Commission File Number)

 

(IRS Employer Identification No.)

incorporation)

 

 

 

 

 

 

 

 

 

390 RXR Plaza

 

 

 

 

Uniondale, NY

 

 

 

11556

(Address of principal executive offices)

 

 

 

(Zip Code)

 

 

 

 

 

Registrant’s telephone number, including area code: 516-535-0015

 

 

 

 

 

N/A

(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 (see General Instruction A.2. below):

☐

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))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, $0.001 par value

 

ACR

 

New York Stock Exchange

8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock

 

ACRPrC

 

New York Stock Exchange

7.875% Series D Cumulative Redeemable Preferred Stock

 

ACRPrD

 

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

Item 5.07

Submission of Matters to a Vote of Security Holders.

On June 8, 2022, ACRES Commercial Realty Corp. (the “Company”) held its 2022 Annual Meeting of Stockholders at which its stockholders: (i) elected nine directors: Messrs. Andrew Fentress, Mark S. Fogel, William B. Hart, Gary Ickowicz, Steven J. Kessler, Murray S. Levin and P. Sherrill Neff and Mses. Karen Edwards and Dawanna Williams to serve until the next annual meeting of stockholders in 2023; (ii) approved, in an advisory vote, the compensation of the Company’s named executive officers and (iii) ratified the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2022.

The voting results were as follows:

 

Election of Directors

 

Shares For

 

 

Shares Against

 

 

Abstentions

 

 

Broker Non-Votes

 

Ms. Edwards

 

 

4,039,142

 

 

 

278,163

 

 

 

23,218

 

 

 

2,517,317

 

Mr. Fentress

 

 

4,042,976

 

 

 

282,064

 

 

 

15,483

 

 

 

2,517,317

 

Mr. Fogel

 

 

4,048,189

 

 

 

276,666

 

 

 

15,668

 

 

 

2,517,317

 

Mr. Hart

 

 

4,043,667

 

 

 

281,352

 

 

 

15,504

 

 

 

2,517,317

 

Mr. Ickowicz

 

 

4,037,750

 

 

 

286,832

 

 

 

15,941

 

 

 

2,517,317

 

Mr. Kessler

 

 

4,039,767

 

 

 

285,237

 

 

 

15,519

 

 

 

2,517,317

 

Mr. Levin

 

 

4,018,018

 

 

 

298,238

 

 

 

24,267

 

 

 

2,517,317

 

Mr. Neff

 

 

4,034,049

 

 

 

283,008

 

 

 

23,466

 

 

 

2,517,317

 

Ms. Williams

 

 

4,006,632

 

 

 

310,563

 

 

 

23,328

 

 

 

2,517,317

 

 

A proposal to approve, in an advisory vote, the compensation of the Company’s named executive officers:

 

Shares For

 

 

Shares Against

 

 

Abstentions

 

 

Broker Non-Votes

 

 

3,965,407

 

 

 

270,555

 

 

 

104,561

 

 

 

2,517,317

 

 

A proposal to ratify the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2022:

 

Shares For

 

 

Shares Against

 

 

Abstentions

 

 

 

 

6,777,099

 

 

 

60,389

 

 

 

20,352

 

 

 

 

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.

 

Description

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

 

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.

 

 

 

ACRES COMMERCIAL REALTY CORP.

 

 

 

 

 

Date:

June 9, 2022

 

 

 

 

 

 

By:

/s/ Jaclyn Jesberger

 

 

 

 

Jaclyn Jesberger

 

 

 

 

Senior Vice President, Chief Legal Officer and Secretary

 

 

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