Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 29, 2018, David J. Hegarty announced his decision to step down as our President and Chief Operating Officer and as an Executive Vice President of our manager, The RMR Group LLC, or RMR LLC, effective April 30, 2018. In connection with Mr. Hegartys planned retirement on September 30, 2018, RMR LLC entered into a retirement agreement with Mr. Hegarty on March 29, 2018.
In addition, on March 29, 2018, our Board of Trustees appointed Jennifer F. (Francis) Mintzer, age 53, to the position of President and Chief Operating Officer of the Company effective May 1, 2018. Ms. Francis is and has been a Senior Vice President of RMR LLC, responsible for asset management and leasing activities at all RMR managed properties, since 2014, and she previously served as Senior Vice President, Leasing, of RMR LLC since 2008.
Ms. Francis has advised us that she has no arrangement or understanding with any other person pursuant to which she was appointed as our President and Chief Operating Officer. She has also advised us that she has no family relationships with any Trustee, executive officer or person nominated or chosen by us to become a Trustee or executive officer.
Also on March 29, 2018, our Board of Trustees, pursuant to a recommendation of our Nominating and Governance Committee, elected Jennifer B. Clark as the Managing Trustee in Class I of our Board of Trustees effective immediately. Ms. Clark was elected to fill the vacancy caused by the death of Barry M. Portnoy and to serve the remainder of the full term of the Class I Trustees, the Class of Trustees which stands for election at our 2018 annual meeting of shareholders.
Ms. Clark, age 56, is and has been the Executive Vice President, General Counsel and Secretary of The RMR Group Inc., or RMR Inc., the majority owner of RMR LLC, since shortly after its formation in 2015. Ms. Clark joined RMR LLC in 1999 as a vice president; she became a senior vice president in 2006, an executive vice president and general counsel in 2008 and secretary in 2015. Ms. Clark serves as the secretary of each of the companies to which RMR LLC or its subsidiaries provide management or advisory services, including the Company and Five Star Senior Living Inc., or Five Star, the largest tenant and manager of the Company. Ms. Clark also serves as a director and the secretary of Sonesta International Hotels Corporation, a director and the executive vice president, general counsel and secretary of RMR Advisors LLC, the executive vice president, general counsel and secretary of Tremont Realty Advisors LLC and the secretary and chief legal officer of RMR Real Estate Income Fund. Prior to joining RMR LLC, Ms. Clark was a partner at the law firm of Sullivan & Worcester LLP.
Our Board of Trustees is comprised of two Managing Trustees and three Independent Trustees. Ms. Clark qualifies as a Managing Trustee in accordance with our Amended and Restated Bylaws. Ms. Clark has advised us that she has no arrangement or understanding with any other person pursuant to which she was appointed as a Managing Trustee of the Company. Ms. Clark is not expected to be appointed to any committees of our Board of Trustees.
In accordance with our publicly disclosed Trustee compensation arrangements, Ms. Clark will not be entitled to any cash compensation for her service as a Managing Trustee, but she will be entitled to receive awards of our common shares from time to time pursuant to our equity compensation plan at the discretion of our Compensation Committee. On March 29, 2018, consistent with our Trustee compensation arrangements, we awarded Ms. Clark 3,000 of our common shares. We previously filed a summary of our currently effective Trustee compensation as Exhibit 10.1 to our Current Report on Form 8-K dated May 18, 2017, which summary is incorporated herein by reference.
We have relationships and historical and continuing transactions with RMR LLC, RMR Inc., Five Star and others related to them. For example: we have no employees and the personnel and various services we require to
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