Getty Realty (NYSE: GTY) grants $300K exit package to departing accounting chief
Rhea-AI Filing Summary
GETTY REALTY CORP. (GTY) reports an amendment describing a separation agreement with former Chief Accounting Officer Eugene Shnayderman, whose separation date was August 14, 2026. The agreement provides a $300,000 cash separation payment, payment for accrued unused paid time off, and reimbursement of COBRA premiums for him and eligible dependents through February 28, 2027. As of the separation date, he holds 108,650 restricted stock units (RSUs), of which 62,750 are already vested under the company’s incentive plan. The vested RSUs will be settled in shares of common stock, and the remaining RSUs will fully vest and be settled in a lump-sum cash payment based on fair market value per share after the effective date of the separation agreement.
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Filing Explained
The filing does not include the complete separation agreement; it says the full text, including other reimbursement terms, will be filed as an exhibit to the company’s Form 10-Q for the quarter ending
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Cash separation payment: $300,000
COBRA reimbursement period end date: February 28, 2027
Restricted stock units held: 108,650 RSUs
+2 more
5 metrics
Cash separation payment
$300,000
Cash separation payment to Eugene Shnayderman under the Separation Agreement
COBRA reimbursement period end date
February 28, 2027
End date for reimbursed COBRA premiums for Mr. Shnayderman and eligible dependents
Restricted stock units held
108,650 RSUs
Total RSUs held by Mr. Shnayderman as of the Separation Date
Vested restricted stock units
62,750 RSUs
Time-Vested RSUs already vested as of the Separation Date
Separation Date
August 14, 2026
Mr. Shnayderman’s last day with Getty Realty Corp.
Key Terms
restricted stock units, COBRA premiums, fair market value, Separation Agreement
4 terms
restricted stock units financial
"as of the Separation Date Mr. Shnayderman holds 108,650 restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
fair market value financial
"cash payment equal to the fair market value per share on the settlement date"
The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.
Separation Agreement financial
"the Separation Agreement between Mr. Shnayderman and the Company"
A separation agreement is a written contract that spells out the financial and legal terms when an employee and a company part ways, such as final pay, severance, continued benefits, confidentiality, and any release of claims. For investors, it matters because these agreements determine immediate costs, potential future liabilities, and whether departing staff are restricted from competing or disclosing information—factors that can affect a company’s cash flow, risk profile, and leadership continuity.
FAQ
What is the purpose of Getty Realty Corp. (GTY)'s latest 8-K/A amendment?
The amendment provides a summary of the separation agreement between Getty Realty Corp. and former Chief Accounting Officer Eugene Shnayderman, including his cash separation payment, benefits reimbursements, and the treatment of his restricted stock units upon his August 14, 2026 separation.
How much is the cash separation payment disclosed by GTY for Eugene Shnayderman?
The separation agreement provides a cash separation payment of $300,000 to Eugene Shnayderman, subject to applicable withholding taxes, in connection with his separation from Getty Realty Corp. on August 14, 2026.
What benefits reimbursement does Getty Realty Corp. (GTY) agree to provide under the separation agreement?
Getty Realty Corp. agrees to reimburse COBRA premiums for Eugene Shnayderman and his eligible dependents through February 28, 2027, payable in a lump sum within 30 days of the August 14, 2026 separation date, plus certain other reimbursements described in the agreement.
How many restricted stock units does Eugene Shnayderman hold according to GTY's filing?
As of the separation date, Eugene Shnayderman holds 108,650 restricted stock units (RSUs) of Getty Realty Corp., of which 62,750 are already vested under the company’s Third Amended and Restated 2004 Omnibus Incentive Compensation Plan.
How will Eugene Shnayderman’s vested and unvested RSUs be settled at Getty Realty Corp. (GTY)?
The Time-Vested RSUs (62,750) will be settled in shares of Getty Realty Corp. common stock under the award agreement. The remaining RSUs will fully vest as of the separation date and be settled in a lump-sum cash payment equal to the fair market value per share on the settlement date.
When did Nicole Rapport succeed Eugene Shnayderman as Chief Accounting Officer at GTY?
Getty Realty Corp. previously reported that Nicole Rapport would succeed Eugene Shnayderman as Chief Accounting Officer, with Mr. Shnayderman’s last day at the company on August 14, 2026; the current amendment focuses on the related separation agreement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
