Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 13, 2025, the Board of Directors of Wheeler Real Estate Investment Trust, Inc. ("WHLR"), the sole common stockholder of Cedar Realty Trust, Inc. (the "Company"), voted to elect Gary Skoien as a director of the Company, to serve effective immediately until the next annual meeting of the Company’s sole common stockholder or until his successor is duly elected and qualified, or until his earlier death, resignation or removal. The Company has determined that Mr. Skoien qualifies as an independent director for purposes of the rules of the New York Stock Exchange as well as applicable rules adopted by the Securities and Exchange Commission (the "SEC').
Mr. Skoien is Chairman of the Board, President, and Chief Executive Officer of Horizon Group Properties, Inc. From 1993 to 2005, he served as Executive Vice President and Chief Operating Officer of The Prime Group ("PGI"). Prior to his role as COO of PGI, Mr. Skoien served as Senior Vice President and Chief Operating Officer of the Retail Division of PGI (Currently Prime Retail, Inc.) from 1992 to 1993. In this role, he oversaw strategic planning, development and management of the rapidly growing division. From 1983 to 1991, Mr. Skoien was the Executive Director of The Illinois Capital Development Board, and from 1980 to 1983, he was an Assistant to the Illinois Governor. Mr. Skoien is the former Chairman of the Board of Trustees of Northern Illinois University, former Vice Chairman of the Executive Committee of the Civic Federation, former member of the Board of Prime Retail, Inc. (NYSE: PRT), and served on the Board of Directors of the Chicagoland Chamber of Commerce. Mr. Skoien received his A.B. cum laude from Colgate University and received his Master of Public Policy from the University of Michigan.
Mr. Skoien will receive compensation based on the same policies as the Company’s other non-employee directors, which are described in WHLR’s definitive proxy statement filed with the SEC on March 22, 2024. Other than such standard compensation arrangements, there are no arrangements or understandings between Mr. Skoien and any other person pursuant to which she was appointed as a director. Mr. Skoien has no direct or indirect material interest in any transaction with the Company that is reportable under Item 404(a) of Regulation S-K, nor have any such transactions been proposed.