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Veris Residential (VRE) investors back merger but reject executive pay plan

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Veris Residential, Inc. reported results of a virtual special meeting of stockholders held to vote on its previously announced merger transactions. Holders of 76,941,670 common shares, representing 81.99% of shares entitled to vote as of the record date, participated.

Stockholders approved the proposal to adopt the Merger Agreement and the related transactions, with 76,820,975 votes for, 18,230 against, and 102,465 abstentions. A separate, non-binding advisory proposal on merger-related compensation for named executive officers was not approved, receiving 34,475,130 votes for, 42,329,272 against, and 137,268 abstentions. An adjournment proposal was rendered moot and not presented.

Positive

  • None.

Negative

  • None.

Insights

Shareholders cleared the merger but rejected merger‑related executive pay on an advisory basis.

The approval of the Merger Agreement and related transactions by Veris Residential stockholders removes a key corporate consent hurdle for the planned combination with the AC Residential entities. The margin was overwhelming, with 76,820,975 votes in favor and only 18,230 against, indicating broad support for the deal terms as disclosed.

By contrast, the non-binding advisory vote on merger-related compensation for named executive officers failed, with 42,329,272 votes against and 34,475,130 for. This signals shareholder discomfort with the transaction-linked pay packages, even though the vote does not alter the legal effectiveness of the merger arrangements. Subsequent company filings may detail how the board responds to this governance feedback.

Item 5.07 Submission of Matters to a Vote of Security Holders Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Shares represented at meeting 76,941,670 shares Common stock represented at special meeting; 81.99% of eligible shares
Merger proposal votes for 76,820,975 votes Votes in favor of approving the Merger Agreement and related transactions
Merger proposal votes against 18,230 votes Votes against the merger proposal at the special meeting
Compensation proposal votes for 34,475,130 votes Votes in favor of merger-related compensation for named executive officers
Compensation proposal votes against 42,329,272 votes Votes against the non-binding merger-related compensation proposal
Merger Agreement financial
"the Company entered into an Agreement and Plan of Merger (as the same may be amended..."
A merger agreement is a binding contract that lays out the exact terms for two companies to combine, including the price, what each side will deliver, and the conditions that must be met before the deal is completed. Investors care because it sets the timetable, payouts and risks — like a blueprint or prenup that shows whether the deal is likely to close, how ownership will change, and what could cancel or alter the payout they expect.
special meeting of stockholders regulatory
"the Company held a virtual special meeting of stockholders (the “Special Meeting”)"
A special meeting of stockholders is an unscheduled gathering called to let shareholders vote on specific, often urgent company decisions—like mergers, major asset sales, changes to the board, or amendments to governing rules. Think of it as an emergency town hall where owners cast ballots in person or by mail/online; outcomes can materially change a company’s strategy, control or value, so investors pay close attention and may need to vote or adjust holdings accordingly.
non-binding advisory vote regulatory
"the proposal to approve, by a non-binding advisory vote, the compensation that may be paid..."
A non-binding advisory vote is a shareholder vote that expresses investors’ opinion on a proposal (such as executive pay, corporate policy, or governance practices) but does not legally force the company to act. Think of it like a customer survey: it signals whether owners approve or disapprove and can pressure boards and managers to change course, so investors watch the result as an indicator of governance risk and potential future shifts in company strategy or leadership.
record date regulatory
"entitled to vote at the Special Meeting as of April 9, 2026, the Special Meeting record date"
The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.
false 0000924901 0000924901 2026-05-21 2026-05-21 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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): May 21, 2026

 

 

 

Veris Residential, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Maryland 1-13274 22-3305147
(State or other
jurisdiction of
incorporation)
(Commission File
Number)
(I.R.S. Employer
Identification No.)

 

Harborside 3, 210 Hudson St., Ste. 400

Jersey City, New Jersey

07311
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (732) 590-1010

 

Not Applicable

(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))

 

Title of each class   Trading
Symbol
  Name of each exchange on which registered
Common Stock, par value $0.01 per share   VRE   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Terms used but not defined herein, or for which definitions are not otherwise incorporated by reference herein, shall have the meaning given to such terms in the definitive proxy statement filed with the U.S. Securities and Exchange Commission on April 10, 2026 (the “Proxy Statement”), by Veris Residential, Inc. (the “Company”, “we”, “us” or “our”), and such definitions are incorporated herein by reference. 

 

Item 5.07 Submission of Matters to a Vote of Stockholders

 

On May 21, 2026, the Company held a virtual special meeting of stockholders (the “Special Meeting”), at which the holders of 76,941,670 shares of Company common stock, par value $0.01 per share (the “Shares” and each, a “Share”), representing 81.99% of the Shares outstanding and entitled to vote at the Special Meeting as of April 9, 2026, the Special Meeting record date (the “Record Date”), were present at the Special Meeting via the virtual meeting website or represented by proxy. A summary of the final voting results for the following proposals, each of which is described in detail in the Proxy Statement and first mailed to the Company’s stockholders on or about April 10, 2026, is set forth below:

 

Proposal 1: Merger Agreement Proposal

 

As previously announced, on February 23, 2026, the Company entered into an Agreement and Plan of Merger (as the same may be amended, modified or supplemented from time to time in accordance with its terms, the “Merger Agreement”), by and among the Company, AC Residential Acquisition LP, a Delaware limited partnership (“Parent”), AC Residential REIT LLC, a Delaware limited liability company (“Merger Sub I”), AC Residential OP LP, a Delaware limited partnership (“Merger Sub II,” and together with Merger Sub I, the “Merger Subs”) and Veris Residential, L.P., a Delaware limited partnership and the operating partnership of the Company (the “Company Partnership”), pursuant to which, among other things, (i) the Company will merge with and into Merger Sub I (the “Merger”), with Merger Sub I continuing as the surviving entity in the Merger, and (ii) Merger Sub II will merge with and into the Company Partnership (the “Partnership Merger,” and together with the Merger, the “Mergers”), with the Company Partnership continuing as the surviving partnership in the Partnership Merger (such transactions, together with the other transactions contemplated by the Merger Agreement, the “Transactions”).

 

At the Special Meeting, the proposal to approve the Mergers and the other Transactions (the “Merger Proposal”) was approved, having received “for” votes from holders of a majority of the outstanding Shares entitled to vote on the Merger Proposal. The final votes on the Merger Proposal were as follows:

 

FOR  AGAINST  ABSTENTIONS
76,820,975  18,230  102,465

 

Proposal 2: Merger-Related Compensation Proposal

 

At the Special Meeting, the Company’s stockholders voted upon and did not approve the proposal to approve, by a non-binding advisory vote, the compensation that may be paid or become payable to the Company’s named executive officers that is based on or otherwise relates to the Transactions, including the Mergers (the “Merger-Related Compensation Proposal”). The final votes on the Merger-Related Compensation Proposal were as follows:

 

FOR  AGAINST  ABSTENTIONS
34,475,130  42,329,272  137,268

 

Proposal 3: Adjournment Proposal

 

Because there were sufficient votes at the time of the Special Meeting to approve the Merger Proposal, adjournment of the Special Meeting was not necessary or appropriate. Accordingly, Proposal 3 was rendered moot and was not presented at the Special Meeting.

 

 

 

 

SIGNATURES

 

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.

 

May 21, 2026 VERIS RESIDENTIAL, INC.
   
  By: /s/ Amanda Lombard
    Name: Amanda Lombard
    Title: Chief Financial Officer

 

 

 

FAQ

What did Veris Residential (VRE) stockholders approve at the special meeting?

Stockholders approved the proposal to adopt the Merger Agreement and related transactions involving Veris Residential and the AC Residential entities. The merger proposal received strong support, with 76,820,975 votes for, 18,230 against, and 102,465 abstentions at the virtual special meeting.

How many Veris Residential (VRE) shares were represented at the special meeting?

A total of 76,941,670 Veris Residential common shares were represented at the virtual special meeting. These shares accounted for 81.99% of the company’s outstanding shares that were entitled to vote as of the April 9, 2026 record date for the meeting.

How did Veris Residential (VRE) shareholders vote on the merger proposal?

Shareholders overwhelmingly approved the merger proposal, with 76,820,975 votes for, 18,230 against, and 102,465 abstentions. This vote adopted the Merger Agreement and authorized the related transactions described in the proxy materials circulated before the special meeting.

What happened to the adjournment proposal at the Veris Residential (VRE) meeting?

The adjournment proposal was rendered moot and was not presented for a vote. Because there were already sufficient votes to approve the merger proposal at the time of the special meeting, no adjournment was necessary or appropriate under the meeting’s terms.

Who were the merger counterparties in Veris Residential’s (VRE) approved transaction?

The Merger Agreement involves Veris Residential, AC Residential Acquisition LP as parent, AC Residential REIT LLC and AC Residential LP as merger subsidiaries, and Veris Residential, L.P., the operating partnership. The structure includes a company-level merger and a partnership merger as related transactions.

Filing Exhibits & Attachments

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