{"url_path":"/sec/srg/8-k/2026-07-08/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-08","source_url":"https://www.sec.gov/Archives/edgar/data/1628063/0001193125-26-298565-index.html","accession_number":"0001193125-26-298565","cik":"0001628063","ticker":"SRG","issuer_name":"Seritage Growth Properties","edgar_url":"https://www.sec.gov/Archives/edgar/data/1628063/0001193125-26-298565-index.html","primary_entity_key":"0001628063","primary_entity_name":"Seritage Growth Properties"},"word_count":279,"has_tables":true,"body_markdown":"Item 5.02\n\nDeparture of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.\n\nOn July 1, 2026, Seritage Growth Properties (the “Company”) entered into an amended and restated employment agreement with Adam Metz (the “Employment Agreement”) pursuant to which Mr. Metz will continue to serve as the Company’s Chief Executive Officer and President. The Employment Agreement has an initial term of six months and provides the Company with an option to extend the term for an additional six months. The Employment Agreement continues to provide Mr. Metz with an annual base salary of $1,100,000 and also provides Mr. Metz with an annual bonus opportunity for the 12-month performance period beginning on July 1, 2026. The target amount of Mr. Metz’s annual bonus opportunity increased from $1,225,000 under his prior employment agreement to $1,300,000 under the Employment Agreement (the “Target Bonus”). In the event that the Company does not exercise its option to extend the term of the Employment Agreement for an additional six months, the performance period for the annual bonus will be prorated to equal the initial six-month term of the Employment Agreement, the target amount will equal 50% of the Target Bonus, and the level of achievement against the performance goals will be measured based on performance during the initial six-month term of the Employment Agreement. The remaining terms and conditions of the Employment Agreement remain unchanged by its amendment and restatement. The foregoing description of the Employment Agreement is only a summary and is qualified in its entirety by reference to the full text of the Employment Agreement, attached hereto as Exhibit 10.1, which is incorporated herein by reference."}