TriNet Officers Acquire Common Stock.SAN FRANCISCO--(BUSINESS WIRE)--April 6, 1999--TriNet Corporate Realty Trust, Inc. (NYSE NYSE
See: New York Stock Exchange :TRI) reported today that senior officers and other management personnel have acquired approximately 53,000 shares of common stock, with a current market value of more than $1.3 million, through the company's Management Stock Purchase Program ("MSPP").
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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. .
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 Total Market Capitalization
The total market value of all of a firm's outstanding securities. is approximately $1.4 billion.
The company is a real estate investment trust (REIT REIT
See: Real Estate Investment Trust
See real estate investment trust (REIT). ) listed on the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and trades under the symbol TRI. Currently, the common stock's annualized annualized
Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. 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.