InPoint Commercial Real Estate Income, Inc 8-K, filed Nov 25, 2024
InPoint Commercial Real Estate Income, Inc. (ICR-PA)
About this 8-K
InPoint Commercial Real Estate Income, Inc filed this 8-K on November 25, 2024, reporting on events of November 20, 2024.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 20, 2024, Mitchell A. Sabshon informed InPoint Commercial Real Estate Income, Inc. (the “Company”) of his resignation from his positions as the Company’s Chief Executive Officer and as a member of the Board of Directors (the “Board”) of the Company, including as Chairman thereof, to be effective as of November 30, 2024. Mr. Sabshon is resigning for personal reasons and not related to any disagreement with the Company’s management, the Board, or any of the Company’s operations, policies or practices.
In connection with Mr. Sabshon’s resignation, on November 20, 2024, the Board appointed (i) Donald MacKinnon, the Company’s President and a member of the Board, as the Company’s Chairman of the Board and (ii) Denise C. Kramer, the President of the Company’s advisor, Inland InPoint Advisor, LLC (the “Advisor”), as the Company’s Chief Executive Officer and as a member of the Board, with each appointment to be effective as of December 1, 2024.
Ms. Kramer, age 46, currently serves as the President of the Advisor, a position she has held since December 2021. Ms. Kramer also has served as the Chief Operating Officer, Lead Portfolio Manager of IPC Alternative Real Estate Income Trust, Inc. since June 2023 and as Senior Vice President, Investment Product Management of Inland Real Estate Investment Corporation, the Company’s sponsor (“IREIC”), since December 2022. Prior to her current role with IREIC, Ms. Kramer served as Senior Vice President, Investment Product Research for Inland Securities Corporation, IREIC’s affiliated broker dealer. Prior to joining IREIC in August 2016, Ms. Kramer served as Director of Investment Research at Advisor Group from January 2010 to August 2016. Ms. Kramer has a B.A. in accounting from the University of Maine and a Master’s degree in finance from Northeastern University, she holds Series 7 and 66 licenses with FINRA, and is a CFA Charterholder.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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INPOINT COMMERCIAL REAL ESTATE INCOME, INC. |
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Date: |
November 25, 2024 |
By: |
/s/ Catherine L. Lynch |
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Catherine L. Lynch |