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Get filing alertsEquity LifeStyle Properties announces CEO transition: Nader to Executive Vice Chair, Waite to President & CEO
Filed October 30, 2026 · Period ending October 27, 2026 · ~1 min read
Key Changes
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Marguerite Nader will step down as CEO and Vice Chairman effective Dec 31, 2026, and become Executive Vice Chair of the Board. The filing states her transition is not due to any disagreement with the company.
Item 5.02 verify on EDGAR → -
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Patrick Waite, currently President and COO, will become President and CEO effective Jan 1, 2027, and will join the Board as a non-independent director, expanding the Board from nine to ten members.
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David Eldersveld, currently EVP, Chief Legal Officer and Corporate Secretary, will add the Chief Operating Officer title and become principal operating officer effective Jan 1, 2027.
Item 5.02 verify on EDGAR → -
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The Board approved 2027 base salaries of $614,935 for Waite and $476,558 for Eldersveld, with bonus potential of 290% and 220% of base salary respectively.
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The Board declared a Q4 2026 dividend of $0.5425 per share, payable Jan 8, 2027 to holders of record Dec 24, 2026.
Item 8.01 verify on EDGAR →
Summary
Equity LifeStyle Properties announced a planned leadership succession effective January 1, 2027. Marguerite Nader, who has served as CEO for 13 years, will step down from her CEO and Vice Chairman roles at the end of 2026 and transition to Executive Vice Chair of the Board. Patrick Waite, currently President and COO, will become President and CEO and join the Board.
David Eldersveld will expand his role to include Chief Operating Officer duties while retaining his legal and corporate secretary responsibilities. The company stated that Nader's transition is not due to any disagreement with the company.
The Board also approved 2027 compensation for the new leadership team, with base salaries of $614,935 for Waite and $476,558 for Eldersveld, and bonus targets of 290% and 220% of base salary respectively. As part of the transition, 29,592 unvested restricted shares held by Nader will accelerate and vest in full on December 31, 2026, waiving performance conditions. Additionally, the Board declared a quarterly dividend of $0.5425 per share, consistent with the company's ongoing dividend program. For retail investors, the succession appears orderly and planned, with no indication of conflict or strategic shift. The accelerated vesting for the outgoing CEO is a notable but modest compensation item. The dividend declaration continues the company's established payout pattern.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
The 29,592 unvested shares under Ms. Nader’s outstanding time-based and performance-based restricted stock awards that are scheduled to vest in 2028 and/or 2029 will vest in full on December 31, 2026, subject to her continued employment with us through such date, without regard to the satisfaction of any performance-based vesting conditions applicable to such shares.
As part of her transition, 29,592 unvested restricted shares scheduled to vest in 2028-2029 will accelerate and vest in full on December 31, 2026, waiving performance conditions. The 28,644 shares vesting in 2027 remain unchanged.
Event · Item 7.01 — Regulation FD Disclosure
ELS announced leadership changes via news release on October 27, 2026, furnished under Regulation FD.
Added in current filing · verify on EDGAR →
On October 27, 2026, we issued a news release announcing the leadership changes described in Item 5.02 of this Current Report on Form 8‑K.
The company issued a news release on October 27, 2026, announcing leadership changes that are described in Item 5.02 of the same Form 8-K. The details of those changes are not included in this Item 7.01 section, which only references the news release and incorporates it by reference as Exhibit 99.1.
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
the Board declared a fourth quarter 2026 dividend of $0.5425 per common share, representing, on an annualized basis, a dividend of $2.17 per common share
The Board declared a quarterly dividend of $0.5425 per common share, which annualizes to $2.17 per share. The dividend will be paid on January 8, 2027 to stockholders of record at the close of business on December 24, 2026.
Event · Exhibit 99.1
ELS announces CEO transition: Nader to Executive Vice Chair, Waite to President & CEO, Eldersveld to EVP COO & CLO, effective Jan 1, 2027.
Added in current filing · view on EDGAR →
Marguerite Nader has been elected Executive Vice Chair of the Board of Directors. Patrick Waite has been promoted to President and Chief Executive Officer, and David Eldersveld has been promoted to Executive Vice President, Chief Operating Officer and Chief Legal Officer.
The company announced a leadership transition effective January 1, 2027. Marguerite Nader, CEO for the past 13 years, moves to Executive Vice Chair of the Board. Patrick Waite, currently President and COO, becomes President and CEO. David Eldersveld, currently EVP and Chief Legal Officer, becomes EVP, COO and Chief Legal Officer.
Added in current filing · view on EDGAR →
Effective January 1, 2027, the size of the Board of Directors will be increased by one director, and Mr. Waite will be elected to the Board of Directors to fill the vacancy.
The Board will expand by one seat and Patrick Waite will join it, aligning board membership with the new CEO role.
Added in current filing · view on EDGAR →
In his expanded role, he will also assume oversight of operations, led by Brett Hattel, who will be promoted to Executive Vice President, Operations effective January 1, 2027.
David Eldersveld will add operations oversight to his responsibilities, with Brett Hattel promoted to EVP, Operations to lead that function.
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Figures/quotes linked to EDGAR · Narrative written by AI · Nov 2, 2026 · How we verify