# EDGAR Filing Document

**Accession Number:** 0001820877
**File Stem:** 0000950170-23-000256
**Filing Date:** 2023-1
**Character Count:** 10558
**Document Hash:** b64f9d7a07cf750db1f866c29adcdcf4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-000256.hdr.sgml**: 20230105

**ACCESSION NUMBER**: 0000950170-23-000256

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20221231

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230105

**DATE AS OF CHANGE**: 20230105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Apartment Income REIT Corp.
- **CENTRAL INDEX KEY:** 0001820877
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39686
- **FILM NUMBER:** 23512146

**BUSINESS ADDRESS:**
- **STREET 1:** 4582 S. ULSTER STREET, SUITE 1700
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80237
- **BUSINESS PHONE:** (303) 757-8101

**MAIL ADDRESS:**
- **STREET 1:** 4582 S. ULSTER STREET, SUITE 1700
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80237

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIMCO-LP, Inc.
- **DATE OF NAME CHANGE:** 20200812
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Apartment Income REIT, L.P.
- **CENTRAL INDEX KEY:** 0000926660
- **STANDARD INDUSTRIAL CLASSIFICATION:** OPERATORS OF APARTMENT BUILDINGS [6513]
- **IRS NUMBER:** 841275621
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-24497
- **FILM NUMBER:** 23512147

**BUSINESS ADDRESS:**
- **STREET 1:** 4582 S ULSTER ST
- **STREET 2:** SUITE 1700
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80237
- **BUSINESS PHONE:** 3037578101

**MAIL ADDRESS:**
- **STREET 1:** 4582 S ULSTER ST
- **STREET 2:** SUITE 1700
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80237

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIMCO PROPERTIES L.P.
- **DATE OF NAME CHANGE:** 20121009

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIMCO PROPERTIES LP
- **DATE OF NAME CHANGE:** 19980519

?xml version="1.0" encoding="ASCII"? 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

------

**FORM** 8-K

------

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported)** December 31, 2022

------

APARTMENT INCOME REIT CORP.

APARTMENT INCOME REIT, L.P.

**(Exact name of Registrant as Specified in Its Charter)**

------

---

| | | |
|:---|:---|:---|
| Maryland **(Apartment Income REIT Corp.)** | 001-39686 | 84-1299717 |
| Delaware **(Apartment Income REIT, L.P.)** | 000-24497 | 84-1275621 |
| **(State or Other Jurisdiction** | **(Commission File Number)** | **(IRS Employer** |
| **of Incorporation)** |  | **Identification No.)** |

---

4582 South Ulster Street

Suite 1700**,** Denver**,** CO 80237

------

**(Address of principal executive offices) (Zip Code)**

**Registrant's Telephone Number, Including Area Code: (**303**)** 757-8101

**(Former Name or Former Address, if Changed Since Last Report)**

------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

---

| | | |
|:---|:---|:---|
| Securities registered pursuant to section 12(b) of the Act: | Securities registered pursuant to section 12(b) of the Act: | Securities registered pursuant to section 12(b) of the Act: |
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Apartment Income REIT Corp. <br>Class A Common Stock<br>| AIRC | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On December 31, 2022, Apartment Income REIT, L.P. (the "Company"), and the Company's chief executive officer, Terry Considine, entered into a second amendment (the "Second Amendment") to Mr. Considine's employment agreement dated December 29, 2017, as amended on October 29, 2021. The Second Amendment became effective on December 31, 2022, and amends the employment agreement (i) to extend the term of his employment agreement by an additional year, through December 31, 2023, unless further extended or earlier terminated as provided in the employment agreement and (ii) to reflect that Mr. Considine's compensation earned and payable with respect to any fiscal year will be reduced to assist the Company's achievement of its goal that general and administrative expenses not exceed 0.15% of the Company's gross asset value, as determined by the Company's board of directors and Mr. Considine.

The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

**Item 9.01 Financial Statements and Exhibits.**

(d) The following exhibits are filed with this report:

---

| | |
|:---|:---|
| Exhibit No. | Description |
| [<u>10.1</u>](airc-ex10_1.htm) | [<u>Second Amendment dated December 31, 2022, to employment agreement between Terry Considine and Apartment Income REIT, L.P. (f/k/a AIMCO Properties, L.P.)</u>](airc-ex10_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | |
|:---|:---|
| Dated: January 5, 2023 |  |
|  | APARTMENT INCOME REIT CORP. |
|  | /s/ Paul Beldin |
|  | Paul Beldin |
|  | Executive Vice President and Chief Financial Officer |
|  | APARTMENT INCOME REIT, L.P. |
|  | By: AIR-GP, Inc., its General Partner |
|  | /s/ Paul Beldin |
|  | Paul Beldin |
|  | Executive Vice President and Chief Financial Officer |

---

------

## Exhibit 10.1

**Exhibit 10.1**

**<u>SECOND AMENDMENT TO EMPLOYMENT AGREEMENT</u>**

This Second Amendment to the Employment Agreement (the "<u>Amendment</u>") is entered into as of December 31, 2022, by and between Apartment Income REIT, L.P. (f/k/a AIMCO Properties, L.P.), a Delaware limited Partnership (the "<u>Partnership</u>"), and Terry Considine (the "<u>Executive</u>") pursuant to their mutual goals to be the best-in-class, most efficient, and most shareholder friendly way to invest in multi-family properties.

**RECITALS**

WHEREAS, the Executive and the Partnership desire to amend the Employment Agreement, by and between Executive and the Partnership, dated as of December 29, 2017, as amended on October 29, 2021 (collectively, the "<u>Employment Agreement</u>"), as provided for herein;

WHEREAS, capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Employment Agreement; and

NOW, THEREFORE, in consideration and exchange for the foregoing, the parties hereto hereby amend the Employment Agreement as follows, effective as of the date first written above:

1. Section 1.1 of the Employment Agreement is hereby amended and restated in its entirety as follows:

"1.1 <u>Term of Employment</u>. The Executive's term of employment under this Agreement shall continue until December 31, 2023, unless further extended or earlier terminated as provided in this Agreement. The period of time between the Effective Date and the termination of the Executive's employment under this Agreement shall be referred to herein as the "Employment Term."

2. Section 2.5 of the Employment Agreement, is hereby amended and restated in its entirety as follows:

"Notwithstanding the foregoing in this Section 2 or otherwise in this Agreement, with respect to compensation that pursuant to this Agreement would otherwise be earned by Executive and owed by Company with respect to any fiscal year of the Company, the Executive and the Company agree that such compensation shall be reduced to assist the Company in meeting its goal that General and Administrative expenses not exceed .15% of the Company's Gross Asset Value for such fiscal year, as defined and determined by the Board and the Executive."

3. Except as expressly amended by this Amendment, all of the terms of the Employment Agreement shall remain in full force and effect.

if 1= 3 "688379.04-PALSR01A - MSW"

------

**Exhibit 10.1**

4. This Amendment may be executed in any number of counterparts, each of which shall be considered an original instrument, but all such counterparts shall together constitute one and the same agreement.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the date and year first above written.

---

| | |
|:---|:---|
| &nbsp;&nbsp;Apartment Income REIT, L.P. | &nbsp;&nbsp;Apartment Income REIT, L.P. |
|  | &nbsp;&nbsp;By: AIR-GP, Inc., its general partner |
| &nbsp;&nbsp;By: | &nbsp;&nbsp;/s/ Lisa R. Cohn |
| &nbsp;&nbsp;Name:  | &nbsp;&nbsp;Lisa R. Cohn |
| &nbsp;&nbsp;Title:  | &nbsp;&nbsp;President and General Counsel |
| &nbsp;&nbsp;/s/ Mr. Terry Considine | &nbsp;&nbsp;/s/ Mr. Terry Considine |
| &nbsp;&nbsp;Mr. Terry Considine | &nbsp;&nbsp;Mr. Terry Considine |

---

if 2= 3 "688379.04-PALSR01A - MSW"

------