Form 8-K - Current report

false 0001574197 0001574197 2024-02-29 2024-02-29

 

 

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): February 29, 2024

 

 

FIVE POINT HOLDINGS, LLC

(Exact Name of Registrant as Specified in Charter)

 

 

 

Delaware		001-38088		27-0599397
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

2000 FivePoint, 4th Floor, Irvine, California		92618
(Address of principal executive offices)		(Zip Code)

[phone]

(Registrant’s telephone number, including area code)

 

 

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:

 

☐	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))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A common shares		FPH		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. ☐

 

 

 

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Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Chief Operating Officer

On March 1, 2024, Five Point Holdings, LLC (the “Company”) announced the appointment of Michael Alvarado as Chief Operating Officer of the Company, effective immediately. Mr. Alvarado will also continue to serve in his position as the Company’s Chief Legal Officer, Vice President and Secretary.

Mr. Alvarado, 58, has served as the Company’s Chief Legal Officer, Vice President and Secretary since May 2016, prior to which he served as General Counsel for our management company starting in 2011. Prior to joining the management company, Mr. Alvarado spent nearly 20 years at Allen Matkins Leck Gamble Mallory & Natsis LLP, where he represented public and private real estate companies, operators and financial institutions in real estate development and finance transactions on projects throughout the country. Mr. Alvarado holds a B.A. in Political Science from the University of California at Los Angeles and a J.D. from Stanford University.

Mr. Alvarado has no family relationship with any director, executive officer or person nominated to become a director or executive officer of the Company. Mr. Alvarado has not engaged in any transactions with the Company that are required to be disclosed under Item 404(a) of Regulation S-K, nor have any such transactions been proposed. There are no arrangements or understandings between Mr. Alvarado and any other person pursuant to which he was appointed as the Company’s Chief Operating Officer.

 

Item 9.01

Financial Statements and Exhibits.

 

Exhibit No.		Description
99.1		Press Release, dated March 1, 2024.
104		Cover Page Interactive Data File (formatted as Inline XBRL).

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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.

 

				FIVE POINT HOLDINGS, LLC
Date: March 1, 2024				By:		/s/ Daniel Hedigan
				Name:		Daniel Hedigan
				Title:		Chief Executive Officer

Exhibit 99.1

Five Point Holdings, LLC Announces Appointment of Mike Alvarado as Chief Operating Officer

March 1, 2024

IRVINE, Calif.—(BUSINESS WIRE)— Five Point Holdings, LLC (“Five Point” or the “Company”) (NYSE:FPH), an owner and developer of large mixed-use planned communities in coastal California, today announced the appointment of Mike Alvarado as Chief Operating Officer of the Company, effective immediately. Mr. Alvarado will also continue to serve in his position as the Company’s Chief Legal Officer, Vice President and Secretary.

Mr. Alvarado is an experienced executive with over 30 years of experience in real estate. He has served as the Company’s Chief Legal Officer, Vice President and Secretary since May 2016, prior to which he served as General Counsel for our management company starting in 2011. Prior to joining the management company, Mr. Alvarado spent nearly 20 years at Allen Matkins Leck Gamble Mallory & Natsis LLP, a top-rated California-based law firm, where he represented public and private real estate companies, operators and financial institutions in real estate development and finance transactions on projects throughout the country. Mr. Alvarado holds a B.A. in Political Science from the University of California at Los Angeles and a J.D. from Stanford University.

Dan Hedigan, Chief Executive Officer of Five Point, said, “I am excited to announce Mike’s appointment to the role of Chief Operating Officer. Mike’s career has been dedicated to real estate, and he has deep experience not only in master-planned community entitlement and development but also in a multitude of commercial segments, including industrial, office, and retail. In addition to his broad experience prior to joining Five Point, Mike has been intimately involved with the Company’s assets and operations going back nearly 20 years. He has been integral in building out the internal legal and operational framework that allows us to execute on our development strategies. His leadership within the Company and the relationships and trust he has developed with our Board of Directors and our partners, both public and private, make him the ideal person to help lead the Company’s operations. Mike will be focused on, among other things, ensuring that we execute efficiently on our business plan and overseeing entitlement efforts across all of our communities. I am confident that Mike will see continued success in this new role and that his leadership will help drive shareholder value.”

About Five Point

Five Point, headquartered in Irvine, California, designs and develops large mixed-use planned communities in Orange County, Los Angeles County, and San Francisco County that combine residential, commercial, retail, educational, and recreational elements with public amenities, including civic areas for parks and open space. Five Point’s communities include the Great Park Neighborhoods^® in Irvine, Valencia^® (formerly known as Newhall Ranch^®) in Los Angeles County, and Candlestick^® and The San Francisco Shipyard^® in the City of San Francisco. These communities are designed to include approximately 40,000 residential homes and approximately 23 million square feet of commercial space.

Contact for Information:

Investor Relations:

Kim Tobler, 949-613-4251

[e-mail]

Media:

Eric Morgan, 949-349-1088

[e-mail]

Document and Entity Information	Feb. 29, 2024
Cover [Abstract]
Amendment Flag	false
Entity Central Index Key	0001574197
Document Type	8-K
Document Period End Date	Feb. 29, 2024
Entity Registrant Name	FIVE POINT HOLDINGS, LLC
Entity Incorporation State Country Code	DE
Entity File Number	001-38088
Entity Tax Identification Number	27-0599397
Entity Address, Address Line One	2000 FivePoint
Entity Address, Address Line Two	4th Floor
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	(949)
Local Phone Number	349-1000
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Class A common shares
Trading Symbol	FPH
Security Exchange Name	NYSE
Entity Emerging Growth Company	false

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