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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION 

WASHINGTON, D.C.  20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 13, 2025

 

Service Properties Trust

(Exact Name of Registrant as Specified in Its Charter)

 

Maryland

(State or Other Jurisdiction of Incorporation)

 

001-11527   04-3262075
(Commission File Number)   (IRS Employer Identification No.)

 

Two Newton Place,

255 Washington Street, Suite 300

Newton, Massachusetts

  02458-1634
(Address of Principal Executive Offices)   (Zip Code)

 

617-964-8389

(Registrant’s Telephone Number, Including Area Code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title Of Each Class   Trading Symbol(s)   Name Of Each Exchange
On Which Registered
Common Shares of Beneficial Interest   SVC   The Nasdaq Stock Market LLC

 

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).

 

Emerging growth company  ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

 

 

 

 

 

 

In this Current Report on Form 8-K, the term “the Company” refers to Service Properties Trust.

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

As described in Item 5.07 below, at the Company’s annual meeting of shareholders held on June 13, 2025 (the “Annual Meeting”), the Company’s shareholders approved the Service Properties Trust Second Amended and Restated 2012 Equity Compensation Plan (the “Share Award Plan”), which amended and restated the predecessor Amended and Restated 2012 Equity Compensation Plan to increase by 3,100,000 the total number of common shares of beneficial interest, $.01 par value per share, available for grant under the plan and to extend the term of the plan until June 13, 2035, the tenth anniversary of the Annual Meeting. The Company’s Trustees and officers, employees of The RMR Group LLC, consultants, advisors or other persons or entities providing management, administrative or other services to us or to the Company’s subsidiaries are eligible to receive awards under the Share Award Plan.

 

A copy of the Share Award Plan that was approved by the Company’s shareholders was included as Annex A to the Company’s proxy statement for the Annual Meeting, which proxy statement was filed with the Securities and Exchange Commission (the “SEC”), on March 26, 2025 (the “2025 Proxy Statement”), and is available at the SEC’s website at www.sec.gov. The terms and conditions of the Share Award Plan are described in detail in the 2025 Proxy Statement. The foregoing description of the Share Award Plan is qualified in its entirety by the terms of the Share Award Plan. A copy of the Share Award Plan is filed as Exhibit 10.1 hereto and is incorporated by reference herein.

 

Item 5.07. Submission of Matters to a Vote of Security Holders.

 

At the Annual Meeting, the Company’s shareholders voted on the election of seven Trustees to the Company’s Board of Trustees each for a one year term of office continuing until the Company’s 2026 annual meeting of shareholders and until her, his or their respective successor is duly elected and qualifies. The following persons were elected as Trustees and received the following votes:

 

Nominee   Votes For     Against       Abstain     Broker
Non-Votes
Laurie B. Burns   98,102,146     8,651,977       900,520     17,617,525
Robert E. Cramer   69,672,586     37,061,902       920,155     17,617,525
Donna D. Fraiche   82,176,574     24,509,287       968,782     17,617,525
William A. Lamkin   97,613,169     9,121,040       920,434     17,617,525
Rajan C. Penkar   98,365,595     8,386,369       902,679     17,617,525
Christopher J. Bilotto   99,792,582     6,972,325       889,736     17,617,525
Adam Portnoy   73,103,501     34,437,213       113,929     17,617,525

 

The Company’s shareholders also voted on a non-binding advisory resolution on the compensation paid to the Company’s named executive officers as disclosed pursuant to Item 402 of Regulation S-K in the 2025 Proxy Statement. This proposal received the following votes:

 

For    Against    Abstain   Broker Non-Votes
102,239,867    5,053,254    361,522   17,617,525

 

As described above in Item 5.02, the Company’s shareholders also voted on the approval of the Share Award Plan. This proposal received the following votes:

 

For    Against    Abstain   Broker Non-Votes
103,969,572    3,301,905    383,166   17,617,525

 

 

 

The Company’s shareholders also ratified the appointment of Deloitte & Touche LLP as the Company’s independent auditors to serve for the 2025 fiscal year. This proposal received the following votes:

 

For    Against    Abstain   Broker Non-Votes
124,276,638    778,720    216,810   N/A

 

The results reported above are final voting results.

 

Item 9.01. Financial Statements and Exhibits.

 

Exhibit
Number
  Description
10.1   Service Properties Trust Second Amended and Restated 2012 Equity Compensation Plan (Filed herewith)
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  SERVICE PROPERTIES TRUST
   
  By: /s/ Brian E. Donley
  Name: Brian E. Donley
  Title: Chief Financial Officer and Treasurer

 

Date:  June 16, 2025