Armada Hoffler Properties Announces Further Corporate Governance Enhancements - Seite 2

Vendor Code of Business Conduct – sets forth the basic requirements expected of the Company’s vendors, suppliers, and trade contractors with whom the Company directly does business, with respect to, among other topics, conflicts of interest, environmental stewardship, anti-corruption, the use of conflict minerals, the conservation of assets, and the protection of whistleblowers.
 

Incentive Compensation Clawback Policy – provides that the Compensation Committee of the Board of Directors may require that an executive officer reimburse or forfeit any incentive compensation awards paid or granted in circumstances where the payment, grant, or vesting of the award was based on the achievement of financial results that were subsequently the subject of an accounting restatement of the Company’s financial statements resulting from any material non-compliance with any financial reporting requirements under applicable securities laws.
 

Anti-Hedging Policy – prohibits the Company’s directors, officers, or employees from entering into any transactions that are designed to hedge (i.e., eliminate or reduce) the risks of ownership of Company securities. The Company’s Anti-Hedging Policy specifically prohibits the purchase or sale of puts, calls, options, or other derivative securities based on the Company’s securities and also prohibits hedging or monetization transactions, such as forward sale contracts, in which the stockholder owns the underlying Company security without all the risks of ownership.

The full text of the foregoing policies is available through the Investors page of the Company’s website found here.

Louis Haddad, President & CEO, said, “Together with the Board’s recent decision to opt out of MUTA, the actions taken by the Board demonstrate our ongoing commitment to enhanced transparency and accountability. We believe that regularly reviewing our policies relating to environmental, social, and governance practices supports our efforts to drive long-term value. We also recognize the importance of sustainability to our investors, employees, tenants, and the communities in which we live and work. Throughout our 40-year history, our focus has always been long-term durability when it comes to environmental, social, and governance practices. We are pleased to announce the establishment of our Sustainability Committee and encourage all of our stakeholders to review the Sustainability Committee’s 2019 Report now available on our website.”