UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) January 26, 2005
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Lexington Corporate Properties Trust
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(Exact Name of Registrant as Specified in Its Charter)
Maryland
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(State or Other Jurisdiction of Incorporation)
1-12386 13-3717318
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(Commission File Number) (IRS Employer Identification No.)
One Penn Plaza, Suite 4015
New York, New York 10119-4015
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(Address of Principal Executive Offices) (Zip Code)
(212) 692-7200
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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 (see General Instruction A.2. below):
|_| 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))
Item 1.01. Entry Into a Material Definitive Agreement
On January 26, 2005, the Compensation Committee of the Board of Trustees of
Lexington Corporate Properties Trust (the "Trust") granted 2004 performance
bonuses to the executive officers of the Trust: E. Robert Roskind, Chairman of
the Trust, Richard J. Rouse, Vice Chairman and Chief Investment Officer of the
Trust, T. Wilson Eglin, Chief Executive Officer, President and Chief Operating
Officer of the Trust, Patrick Carroll, Chief Financial Officer, Executive Vice
President and Treasurer of the Trust, and John B. Vander Zwaag, Executive Vice
President of the Trust. The bonuses are for efforts and services of these
executive officers on behalf of the Trust in 2004. The bonuses are set forth in
the following table:
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2004 Bonus
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E. Robert Roskind $ 547,200
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T. Wilson Eglin 547,200
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Richard J. Rouse 532,800
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Patrick Carroll 396,000
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John B. Vander Zwaag 381,600
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Bonuses will be granted in cash and in common shares of beneficial interest (the
"Common Shares") subject to certain vesting requirements, under the Trust's 2002
Equity-Based Award Plan. At least 50% of the bonus must be in non-vested Common
Shares. These non-vested Common Shares will be issued at the opening price of
the Common Shares on January 26, 2005 (the "Grant Date"). The non-vested Common
Shares will vest ratably over five years on the next five anniversaries of the
Grant Date.
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.
Lexington Corporate Properties Trust
Date: January 28, 2005 By: /s/ Patrick Carroll
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Patrick Carroll
Chief Financial Officer