Current Report Filing (8-k)
December 08 2017 - 5:21PM
Edgar (US Regulatory)
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): December 6, 2017
INNSUITES
HOSPITALITY TRUST
(Exact
Name of Registrant as Specified in Charter)
Ohio
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001-07062
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34-6647590
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(State
or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification No.)
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InnSuites Hotels Centre,
1730 E. Northern Avenue, Suite 122
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Phoenix,
AZ
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85020
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code
(602) 944-1500
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:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
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On
December 6, 2017, InnSuites Hospitality Trust (the “Trust”) Board of Trustees approved potential additional indirect
compensation paid to Suite Hotels Realty, an affiliate of both James Wirth, the Trust’s Chairman and CEO and Pamela Barnhill,
the Trust’s Vice Chairperson, President and COO. The Trust has listed for sale its Yuma, Arizona hotel property with a California
real estate broker. By Arizona statue, out of state brokers must work with a licensed Arizona real estate broker to conduct business
in Arizona. James Wirth is a licensed real estate broker in Arizona and his license is held under Suite Hotels Realty. Suite Hotels
Realty has agreed to assist the California real estate broker for a standard 5% of the amount of commission that the California
real estate broker receives upon the consummation of the sale of our Yuma, Arizona hotel asset.
On
December 6, 2017, the Board of Trustees approved a cash dividend of $0.01 per Share of Beneficial Interest of the Trust, payable
on January 31, 2018 to shareholders of record as of December 20, 2017.
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.
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InnSuites
Hospitality Trust
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By:
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/s/
Adam B. Remis
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Adam
B. Remis
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Chief
Financial Officer
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Date:
December 8, 2017
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