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- Auditor Change (new) — The company dismissed its auditor KPMG and replaced it with Grant Thornton effective immediately on April 1, 2026.
Seaport Entertainment replaces auditor KPMG with Grant Thornton effective immediately
Filed April 7, 2026 · Period ending April 1, 2026 · ~1 min read
Key Changes
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high
Audit Committee dismissed KPMG and engaged Grant Thornton as independent auditor for 2026 financial statements, effective April 1, 2026. The change was immediate with no transition period.
Item 4.01 verify on EDGAR → -
medium
Company disclosed no disagreements with KPMG on accounting principles, financial disclosures, or audit procedures during 2024-2025 or through the dismissal date.
Item 4.01 verify on EDGAR → -
medium
KPMG's prior audit reports for 2023-2025 were clean with no adverse opinions, disclaimers, or qualifications regarding accounting principles or audit scope.
Item 4.01 verify on EDGAR → -
low
No reportable events such as material weaknesses in internal controls were identified during KPMG's tenure through April 1, 2026.
Item 4.01 verify on EDGAR →
Summary
Seaport Entertainment Group dismissed KPMG as its independent auditor and immediately engaged Grant Thornton to audit its 2026 financial statements. While auditor changes always warrant attention, the company's disclosure suggests this was a voluntary business decision rather than a forced departure due to accounting disputes or audit quality concerns.
The filing explicitly states there were no disagreements with KPMG on accounting matters and no reportable events like internal control weaknesses. For retail investors, the key question is why the company made this change mid-year with no transition period. Possible explanations include cost considerations, desire for fresh perspective, or strategic realignment, but the 8-K provides no rationale.
The clean audit history and absence of conflicts is reassuring, but the abrupt timing merits monitoring. Watch for Grant Thornton's first audit report and any subsequent disclosures about internal controls or accounting policy changes. If the 2026 audit proceeds smoothly with no restatements or material weaknesses identified, this change will likely prove routine.
Section-by-Section Diff
Event · Item 4.01 — Changes in Registrant's Certifying Accountant
Item 4.01 — Changes in Registrant's Certifying Accountant filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
KPMG’s reports on the Company’s consolidated and combined financial statements as of December 31, 2025 and 2024 and for each of the years in the three-year period ended December 31, 2025 did not contain an adverse opinion or a disclaimer of opinion, nor were qualified or modified as to uncertainty, audit scope or accounting principles.
KPMG's audit reports for 2025, 2024, and the three-year period ended December 31, 2025 were clean, with no adverse opinions, disclaimers, or qualifications. This indicates the auditor change was not driven by problematic audit findings.
Added in current filing · verify on EDGAR →
During the years ended December 31, 2025 and 2024, and during the subsequent interim period through April 1, 2026, (i) there were no disagreements (within the meaning of Item 304(a) (1) (iv) of Regulation S-K and the related instructions thereto) between the Company and KPMG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to KPMG’s satisfaction, would have caused KPMG to make reference to the subject matter of the disagreements in connection with its report on the Company’s consolidated and combined financial statements for the relevant year, and (ii) there were no reportable events (as defined by Item 304(a) (1) (v) of Regulation S-K).
The company confirms there were no disagreements with KPMG on accounting principles, financial disclosures, or audit procedures during 2024, 2025, or through April 1, 2026. There were also no reportable events such as material weaknesses in internal controls. This suggests the auditor change was voluntary and not due to conflicts.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 15, 2026 · How we verify