New York City REIT, Inc. (NYSE: NYC) ("NYC" or the "Company") today issued the following statement in response to the report issued by Institutional Shareholder Services ("ISS") relating to the director election at the Company's Annual Meeting on May 31, 2022.
Michael Weil, Chairman and CEO of NYC, said, "There is no question that Elizabeth Tuppeny is the superior candidate and the right choice for NYC shareholders in the upcoming director election. She has been an outstanding NYC director for several years and has extensive commercial real estate experience, significant REIT board service, and a strong track record of delivering exceptional returns to our shareholders. It is very disappointing that ISS failed to recognize these many outstanding qualities and instead has chosen to back an inexperienced director candidate for election to the Board who was handpicked by an activist hedge fund."
As the NYC Annual Meeting approaches, it is critical that NYC shareholders consider the following in making their decision:
NYC continues to urge shareholders to not be fooled by Comrit and only vote to re-elect Elizabeth Tuppeny to the Company's Board of Directors by voting ?FOR' on the GOLD card to re-elect Elizabeth Tuppeny so we can continue to build on our considerable momentum. A vote for Sharon Stern, who does not have the experience to serve on NYC's Board, could jeopardize the momentum of the Company and put the value of your investment at risk.
|Your Vote Is Important, No Matter How Many or How Few Shares You Own!|
|Please vote today by telephone, via the Internet or|
|by signing, dating and returning the enclosed GOLD proxy card.|
|Simply follow the easy instructions on the GOLD proxy card.|
|If you have questions about how to vote your shares, please contact:|
|INNISFREE M&A INCORPORATED|
|Shareholders May Call Toll-free: (877) 750-8197|
|Banks and Brokers May Call Collect: (212) 750-5833|
|Please simply discard any WHITE proxy card that you may receive from Comrit. Returning a WHITE proxy card ? even if you "withhold" on the Comrit's nominees ? will revoke any vote you had previously submitted on NYC REIT's|
|GOLD proxy card.|
|Please simply discard any WHITE proxy card that you may receive from Comrit. Returning a WHITE proxy card ? even if you "withhold" on the Comrit's nominees ? will revoke any vote you had previously submitted on NYC REIT's GOLD proxy card.|
About New York City REIT, Inc.
New York City REIT, Inc. is a publicly traded REIT that owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City. Additional information about NYC can be found on its website at www.newyorkcityreit.com.
NYC filed a definitive proxy statement on Schedule 14A on April 15, 2022 and will file other relevant documents with the SEC in connection with the solicitation of proxies from NYC stockholders for NYC's 2022 annual meeting of stockholders. NYC STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ NYC'S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and stockholders may obtain a copy of the definitive proxy statement, an accompanying proxy card, any amendments or supplements to the definitive proxy statement and other documents filed by NYC with the SEC at no charge at the SEC's website at www.sec.gov. Copies are also available at no charge in the "SEC Filings" subsection of the "Financial Information" section of NYC's Investor Relations website at investors.newyorkcityreit.com or by contacting NYC's Investor Relations department at [email protected].
Participants in the Solicitation
NYC, its directors, and certain of its executive officers may be deemed to be participants in the solicitation of proxies from NYC stockholders in connection with matters to be considered at NYC's 2022 annual meeting of stockholders. Information regarding the direct and indirect interests, by security holdings or otherwise, of NYC's directors and executive officers, in NYC is included in NYC's Proxy Statement on Schedule 14A for the 2022 annual meeting of stockholders, filed with the SEC on April 15, 2022. Changes to the direct or indirect interests of NYC's directors and executive officers are set forth in SEC filings on Initial Statements of Beneficial Ownership on Form 3, Statements of Change in Ownership on Form 4 and Annual Statements of Changes in Beneficial Ownership on Form 5. These documents are available free of charge as described above. Updated information regarding the identities of potential participants and their direct or indirect interests, by security holdings or otherwise, in NYC will be set forth in relevant documents to be filed with the SEC, if and when they become available.
1 Total Return calculated over the period beginning on January 1, 2021 through April 13, 2022. Total Return is calculated by taking the ending share price less the beginning share price plus dividends paid divided by the beginning share price, shown as a percentage.
2 Peer group includes SLG, VNO, ESRT and PGRE.
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