Printer Friendly

TriNet Officers Acquire Common Stock.

SAN FRANCISCO--(BUSINESS WIRE)--April 6, 1999--TriNet Corporate Realty Trust, Inc. (NYSE: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.

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
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Apr 6, 1999
Previous Article:Litton Network Access Systems Expands Product Line of Tactical Fiber Optic Modems.
Next Article:Intermost to Enter Online Bookstore Market; Intermost Signs Agreement to Create One of the Largest Online Bookstores of Chinese Titles.

Related Articles
TriNet Reports Record Operating Results for 1997.
TriNet Officers Acquire Common Stock.
Racing the waves: seismologists try to catch quake tremors quickly enough to save lives.
TriNet Announces Record First Quarter Results.
TriNet Announces Common Stock Offering.
The REIT Stuff.
Fitch IBCA Places TriNet Ratings On Alert-Negative.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters