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Get filing alertsCurbline extends CFO and CIO contracts through 2029 with $2.87M retention grants
Filed June 25, 2026 · Period ending June 25, 2026 · ~1 min read
Key Changes
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CFO Fennerty and CIO Cattonar received $1.5M and $1.37M retention grants with heavily backloaded vesting: 0% year one, 30% by year three, 50% in year five, tying both executives through 2031.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Employment agreements extended from September 2026 expiration to June 2029. CFO base salary increased from $600K to $650K; CIO from $500K to $550K.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Agreements guarantee minimum annual equity awards: $600K performance-based and $250K time-based for CFO; $600K performance-based and $150K time-based for CIO.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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New change-in-control severance protections cover qualifying terminations within three months before a change in control; time-based equity vesting standardized to three years.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
Curbline Properties extended employment agreements for its CFO Conor Fennerty and CIO John Cattonar through June 2029, nearly three years beyond their September 2026 expiration. The extensions came with base salary increases of 8-10% and one-time retention grants totaling $2.87 million in restricted stock. The retention awards use an aggressive backloaded vesting schedule that releases nothing in year one and holds half the value at risk until the fifth anniversary in 2031, effectively locking both executives in for the long term.
The Compensation Committee, advised by independent consultant Gressle & McGinley, determined retention of both executives was critical to the company's success and approved compensation aligned with peer companies. The agreements also added change-in-control protections and standardized equity vesting to three years. For shareholders, the retention grants represent a meaningful commitment to executive continuity at a company that rebranded from SITE Centers Corp., with the backloaded structure aligning executive incentives with long-term performance rather than near-term liquidity events.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
CURB extended employment agreements for CFO and CIO through 2029 with salary increases and retention equity grants totaling $2.87M.
Added in current filing · verify on EDGAR →
On June 25, 2026, Curbline Properties Corp. (the “Company”) and Curbline TRS LLC, a subsidiary of the Company (“Curbline TRS”), entered into an amended and restated employment agreement with each of Conor Fennerty, the Company’s Executive Vice President, Chief Financial Officer and Treasurer, and John Cattonar, the Company’s Executive Vice President and Chief Investment Officer (the “Employment Agreements”). The Employment Agreements supersede and extend the terms of their prior employment agreements through June 25, 2029. The prior employment agreements were otherwise set to expire on September 30, 2026. In addition to extending the terms, the Employment Agreements increase Mr. Fennerty’s base salary from $600,000 to $650,000
The company extended CFO Conor Fennerty's employment agreement by nearly three years, from September 30, 2026 to June 25, 2029, and raised his base salary from $600,000 to $650,000. The agreement also sets minimum annual equity award values: $600,000 for performance-based awards and $250,000 for time-based awards.
Added in current filing · verify on EDGAR →
Mr. Cattonar’s base salary from $500,000 to $550,000. Mr. ... Cattonar’s Employment Agreement provides that his annual performance-based equity awards will have a grant date target value of no less than $600,000 and his annual time-based equity awards will have a grant date value of no less than $150,000.
The company extended CIO John Cattonar's employment agreement through June 25, 2029, raising his base salary from $500,000 to $550,000. His agreement guarantees minimum annual equity awards of $600,000 performance-based and $150,000 time-based.
Added in current filing · verify on EDGAR →
As consideration for agreeing to extend the term, Mr. Fennerty will receive a $1,500,000 backloaded restricted stock award and Mr. Cattonar will receive a $1,370,000 backloaded restricted stock award, both of which are subject to a five-year vesting schedule of which: (i) 0% vests on the first anniversary of grant; (ii) 15% vests on the second anniversary of grant; (iii) 15% vests on the third anniversary of grant; (iv) 20% vests on the fourth anniversary of grant; and (v) 50% vests on the fifth anniversary of grant.
The CFO and CIO received one-time retention grants totaling $2.87 million in restricted stock with heavily backloaded vesting: nothing vests in year one, only 30% by year three, and half remains at risk until the fifth anniversary. The structure ties both executives to the company through 2031.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The Compensation Committee of the Board of Directors of the Company (the “Committee”), after consultation with its independent compensation consultant, Gressle & McGinley, approved the Employment Agreements because it determined that it was critical to the Company’s continued success to retain both Mr. Fennerty and Mr. Cattonar and advisable to better align their compensation with the Company’s peer group based on Mr. Fennerty’s and Mr. Cattonar’s significant value to the Company.
The Compensation Committee, advised by independent consultant Gressle & McGinley, approved the agreements to retain key executives and align their compensation with peer companies. The board emphasized the critical importance of both executives to the company's success.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 9, 2026 · How we verify