Curbline Properties Corp

On November 13, 2024, the Company, Curbline TRS LLC, a subsidiary of the Company (“Curbline TRS”) and David R. Lukes, the Company’s President and Chief Executive Officer (“Executive”), entered into an amendment (the “Amendment”) to Mr. Lukes’ current employment agreement, dated as of September 1, 2024, with Curbline and Curbline TRS (the “Employment Agreement”).

The primary purpose of the Amendment is to provide Mr. Lukes with an annual opportunity to elect, no later than December 31 of each calendar year during the term of the Employment Agreement (or such earlier date determined by the Compensation Committee of the Company’s Board of Directors), to receive up to 100% of his annual cash incentive payout (if any) for the next calendar year in the form of a grant of time-based Company restricted stock (“Restricted Stock”) or Curbline Properties LP limited partnership units (“LTIP Units”). If Mr. Lukes elects Restricted Stock or LTIP Units for any portion of an annual cash incentive payout, the number of shares of Restricted Stock or LTIP Units will be equal to 1.2 times the portion of the annual cash incentive payout that is subject to the election, divided by the 10-day average closing price for Company common stock prior to the grant date. The grant will generally vest in equal installments on the first three anniversaries of the grant date, subject to the terms of the award agreement and the Employment Agreement, as amended.