Form 8-K - Current report

0001037976falseMD00010379762024-09-242024-09-24

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): September 24, 2024

Jones Lang LaSalle Incorporated

(Exact name of registrant as specified in its charter)

Maryland

001-13145

36-4150422

(State or other jurisdiction

(Commission File Number)

(I.R.S. Employer

of incorporation or organization)

Identification No.)

200 East Randolph Drive,

Chicago,

IL

60601

(Address of principal executive offices)

(Zip Code)

Registrant's telephone number, including area code:

(312)

782-5800

Former name or former address, if changed since last report: Not Applicable

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

Name of each exchange on which registered

Common Stock, par value $0.01

JLL

The 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 7.01 Regulation FD Disclosure

On September 24, 2024, Jones Lang LaSalle Incorporated (“JLL”) issued a press release announcing a change to our organizational and financial reporting structure. Effective January 1, 2025, our Property Management business will report into our CEO of Work Dynamics, Neil Murray. This change will consolidate our operation and reporting of real estate management activities (Property Management and Workplace Management) into a single business segment. Within this business segment, we will continue to separately report revenues associated with our Property Management and Workplace Management businesses, in addition to revenues associated with our Project Management and Portfolio Services and Other businesses. The composition of JLL’s Global Executive Board is unchanged. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Current Report on Form 8-K, including the press release attached as Exhibit 99.1, shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. This information will not be deemed an admission as the materiality of any information contained herein that is required be disclosed solely by Regulation FD.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

EXHIBIT INDEX

Exhibit No.			Description
99.1			News release issued by Jones Lang LaSalle Incorporated on September 24, 2024 announcing a change to its organizational and financial reporting structure.
104			Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.    

                                            

			Date: September 24, 2024
			Jones Lang LaSalle Incorporated
			By: /s/ Karen Brennan
			Name: Karen Brennan
			Title: Chief Financial Officer

Exhibit 99.1

JLL announces plans to strengthen its building operations and digital leasing capabilities

Delivering client outcomes by unifying similar capabilities and putting best-in-class intelligence into action

CHICAGO, September 24, 2024 – JLL today announced it will bring together all building operation groups to address client needs and the changing dynamics of the real estate industry.

“In addition to the benefits of operating and reporting similar service offerings together, we expect greater synergy and better client value by aligning real estate management activities globally,” said Christian Ulbrich, President and Chief Executive Officer of JLL. “This is a prime example of our ongoing commitment to adapt to best serve our clients’ evolving needs.”

Additionally, JLL plans to accelerate the build-out of its digital leasing platform. “We’re continuing to invest in our industry-leading platform and technology to support our clients at every stage of the leasing lifecycle, from transaction and lease management to workplace and portfolio analytics,” commented Ulbrich.

As a result of these changes, effective January 1, 2025, JLL will report the Property Management business under Neil Murray, CEO of Work Dynamics. Going forward, the Markets Advisory segment will become Leasing Advisory. The composition of JLL’s Global Executive Board is unchanged.

JLL is committed to a smooth transition process for its clients, employees and partners.

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Document and Entity Information Document	Sep. 24, 2024
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Sep. 24, 2024
Entity Registrant Name	Jones Lang LaSalle Incorporated
Entity Central Index Key	0001037976
Amendment Flag	false
Entity Incorporation, State or Country Code	MD
Entity File Number	001-13145
Entity Tax Identification Number	36-4150422
Entity Address, Address Line One	200 East Randolph Drive,
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	(312)
Local Phone Number	782-5800
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	JLL
Security Exchange Name	NYSE
Entity Emerging Growth Company	false

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