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

On June 5, 2023, the company announced the termination of Corey Dyer as Chief Revenue Officer of the company without cause, effective June 30, 2023.

In connection with the termination of Mr. Dyer's employment, the company anticipates that Mr. Dyer will be eligible to receive a cash separation payment of approximately $1.3 million, as well as various other separation payments and benefits, in accordance with the non-cause termination provisions of Mr. Dyer's severance agreement, the form of which was filed as Exhibit 10.55 to the combined Annual Report on Form 10-K of the company and the operating partnership for the year ended December 31, 2022. In addition, Mr. Dyer will remain subject to certain post-termination restrictive covenants.




Item 8.01.   Other Events

Asset Disposition

On May 15, 2023, the company closed on the sale of its 100% interest in a non-core data center property located in Dallas, Texas to a third party. The company received approximately $150 million of net proceeds from the sale. Proceeds from the sale are expected to be used to repay outstanding borrowings under our global revolving credit facilities and for general corporate purposes.

ATM Activity

As of the date of this Current Report on Form 8-K, the company has sold a total of 7,820,778 shares of its common stock at a weighted average price of $95.96 per share through its ATM program during the second quarter of 2023, for gross proceeds of approximately $750 million, and net proceeds of approximately $743 million, after deducting the sales agent's fee. In addition, during such period the company entered into forward equity sale agreements with a financial institution acting as a forward purchaser under its ATM program with respect to 3,454,148 shares of its common stock at an initial forward sale price of approximately $97.68 per share. The company did not initially receive any proceeds from the sale of shares of common stock by the forward purchaser (or its affiliate).

The company intends to use the net proceeds from such sales of common stock and the physical settlement of such forward equity sale agreements to repay outstanding borrowings under its global revolving credit facilities and for general corporate purposes.


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