TriNet Officers Acquire Common Stock.
TriNet's Board of Directors adopted the MSPP as part of the company's long-term incentive plans, which are designed to align stockholder and management interests by creating a direct link between management compensation and stockholder return. Under the MSPP, officers may elect to purchase common shares at 90 percent of the fair market value of the shares on the relevant purchase date.
"The level of investment in TriNet stock by members of the company's management reflects their confidence in TriNet's strategy and their commitment to maximizing shareholder value," said Robert W. Holman, Jr., TriNet's chairman and CEO.
TriNet Corporate Realty Trust, Inc., owns predominantly strategic, suburban office and warehouse properties leased to large, well-known companies. Its portfolio contains 145 properties comprising more than 19.5 million square feet in 25 states and is 99 percent leased. TriNet's total market capitalization is approximately $1.4 billion.
The company is a real estate investment trust (REIT) listed on the New York Stock Exchange and trades under the symbol TRI. Currently, the common stock's annualized dividend is $2.60, paid quarterly, and at yesterday's closing price of $25.375, represents a current yield of 10.3 percent. Additional information on TriNet Corporate Realty Trust, Inc., is available on the company's Web site at http://www.tricorp.com.
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|Date:||Apr 6, 1999|
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