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AI brief of an SEC Form 8-K · Federal Realty Investment Trust (FRT)

Federal Realty to take $0.04 per share Q4 charge as COO Jeffrey Berkes departs Dec. 31

Negative Impact 3 of 5 leadership Written later

Federal Realty said President and Chief Operating Officer Jeffrey S. Berkes will leave the company effective December 31, 2024, and the role will not be filled. CEO Donald C. Wood will also resume the title of President. The company expects a fourth-quarter 2024 charge of about $0.04 per diluted share tied to the departure, which will reduce both net income and FFO available to common shareholders.

Key points

  • Jeffrey S. Berkes, President and COO, departs effective December 31, 2024; the company does not intend to backfill the role.
  • Donald C. Wood, CEO, will reassume the additional position of President.
  • Berkes will receive severance under a 2021 agreement and a 2024 annual bonus, and will consult from January 1, 2025 for fees on closed acquisitions.
  • Expected Q4 2024 charge of approximately $0.04 per diluted share against net income and FFO available to common shareholders.

The filing

CompanyFederal Realty Investment Trust (FRT)
Form8-K, current report
Filed with the SECNov 15, 2024, 4:14 PM ET
Accession number0000034903-24-000073

Items reported: 5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 15, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.