AR Capital’s Healthcare Trust Appoints New Directors
The board of directors of Healthcare Trust Inc., a publicly registered non-traded real estate investment trust sponsored by AR Capital, appointed Leslie Michelson and Edward Rendell as independent directors of the company.
Michelson and Rendell will participate in the company’s compensation program for independent directors, which pays a retainer of $30,000 plus certain per meeting compensation and reimbursements. Each will also receive an award of 1,333 restricted shares of common stock on the date of their appointment and at each annual stockholder’s meeting thereafter. The restricted stock vests over a 5-year period following the first anniversary of the date of grant in increments of 20 percent per year.
Michelson has experience as a founder, chief executive officer, investor, advisor and director for entrepreneurial healthcare, technology and real estate companies. He currently serves as a director of a number of American Realty Capital boards, including Retail Centers of America, Business Development Corporation of America I and II, American Realty Capital Healthcare Trust, and Realty Finance Trust. Michelson serves as an independent director of RCS Capital Corp. (NYSE: RCAP), and previously served as a lead independent director of American Realty Capital Properties Inc. until April 2015. He received a juris doctorate from Yale Law School in 1976 and a bachelor’s degree in social and behavioral sciences from Johns Hopkins University in 1973.
Rendell was the Mayor of Philadelphia from January 1992 to January 2000, and the 45th Governor of the Commonwealth of Pennsylvania from January 2003 to January 2011. He serves as an independent director of American Realty Capital Global Trust, American Realty Capital – Retail Centers of America II, and Business Development Corporation of America. He holds a juris doctorate from the Villanova University School of Law and a bachelor’s degree from The University of Pennsylvania. He is the author of A Nation of Wusses: How America’s Leaders Lost the Guts to Make US Great.
