Posted 22 December, 2023
Forestar Group Inc. appointed new CEO
CEO Change detected for ticker NYSE:FOR in a 8-K filed on 22 December, 2023.
As previously announced, effective January 1, 2024, Daniel C. Bartok, will step down from his role as the President and Chief Executive Officer of Forestar Group Inc. (the "Company").
Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of Forestar Group Inc.
Real Estate/Construction • Real Estate Developers
Forestar Group Inc. is a residential lot development company, which engages in the provision of real estate business. The firm focuses on making investments in land acquisition and development to sell finished single-family residential lots to homebuilders. The company was founded in 2007 and is headquartered in Arlington, TX.Market Cap
$1.74B
View Company Details
$1.74B
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously announced, effective January 1, 2024, Daniel C. Bartok, will step down from his role as the President and Chief Executive Officer of Forestar Group Inc. (the "Company"). In connection with this transition, on December 22, 2023, the Compensation Committee of the Company's Board of Directors (the "Board") approved entry into a Consulting Agreement with Mr. Bartok pursuant to which he has agreed to provide transition services to the Company for the period from January 2, 2024, through December 31, 2024. As part of the Agreement, he also agreed to certain confidentiality, non-competition and non-solicitation clauses. Under the Consulting Agreement, Mr. Bartok will receive a monthly consulting fee of $83,333.33. Further, on December 22, 2023, the Compensation Committee of the Board also approved entry into a Separation Agreement, under which Mr. Bartok will receive a lump sum payment of $100,000 and reimbursement for the costs of up to twelve months of group health insurance premiums under the Consolidated Omnibus Budget Reconciliation Act in consideration of a general release of claims in favor of the Company and its affiliates.
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