sl green realty corp holds annual meeting, elects board members

Today, SL Green Realty Corp. (NYSE:SLG), currently trading at $60 per share and showing signs of overvaluation according to InvestingPro Fair Value metrics, conducted its Annual Meeting of Stockholders, as detailed in a recent SEC filing. The meeting saw the election of eight directors to the company’s board, each serving a one-year term until the next annual meeting. The directors elected include John H. Alschuler, Carol N. Brown, Lauren B. Dillard, Stephen L. Green, Craig M. Hatkoff, Marc Holliday, Peggy Lamb, and Andrew W. Mathias. The voting results showed strong support, with votes in favor ranging from 75.2% to 99.2%. This comes at a challenging time for the company, as InvestingPro data shows negative earnings per share of -$0.45 over the last twelve months.

The meeting also addressed several key proposals. A proposal to approve the company’s executive compensation was passed with 68.7% of votes in favor. Additionally, stockholders ratified the appointment of Deloitte & Touche LLP as SL Green’s independent registered public accounting firm for the fiscal year ending December 31, 2025, with 99.9% of votes in favor.

Furthermore, the stockholders approved the Sixth Amended and Restated 2005 Stock Option and Incentive Plan, with 82.0% voting in favor. The meeting had a high turnout, with approximately 85% of the total shares entitled to vote being represented either in person or by proxy.

This information is based on a press release statement filed with the Securities and Exchange Commission. Despite current challenges, the company maintains a notable track record of 29 consecutive years of dividend payments, with a current yield of 5.4%. For deeper insights into SL Green’s financial health and future prospects, including additional ProTips and comprehensive analysis, explore the full research report available on InvestingPro.

In other recent news, SL Green Realty Corp reported its first-quarter 2025 financial results, surpassing earnings expectations with an earnings per share (EPS) of -$0.30, better than the forecasted -$0.41. However, the company’s revenue slightly missed projections, coming in at $144.52 million compared to the expected $145.27 million. Despite this, SL Green achieved full occupancy at its newly acquired 500 Park Avenue, demonstrating strategic asset management. The company highlighted a robust leasing pipeline and strong performance in its debt-related businesses. CEO Mark Holliday expressed confidence in SL Green’s market position, noting continued strong interest from foreign investors. Additionally, SL Green maintains its focus on achieving a $1 billion disposition target and plans significant office-to-residential conversions, anticipating up to 25 million square feet of conversions. The company also continues to explore new projects such as Summit Paris, indicating potential future growth.

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