Urban Edge Properties CEO Jeffrey Olson signs new employment deal through September 2027
Urban Edge Properties entered a new employment agreement with Chairman and CEO Jeffrey S. Olson dated June 28, 2024, replacing his prior agreement. The new term runs to September 1, 2027, with automatic one-year renewals unless either party gives at least 90 days' notice, and the company says his current target compensation is unchanged. For shareholders, the filing sets out the terms of severance and bonus arrangements if his employment ends.
- Agreement dated June 28, 2024; initial term extends to September 1, 2027
- Base salary of not less than $1,100,000 and target bonus of not less than 110% of base salary
- Annual LTIP Unit grant beginning in 2025 with fair value of not less than $4,450,000
- Severance equals two times base salary plus target bonus, or three times if a change in control termination applies