Trinity Place Holdings Incentivizes CEO, Board Changes Announced

Trinity Place Holdings Inc (TPHS) has issued an announcement.

Trinity Place Holdings Inc. has revised its employment and consulting agreements with CEO Matthew Messinger, incentivizing him to continue his role until July 31, 2024, with a total of $900,000 in staggered payments and potential stock vesting. Post-termination, Messinger will provide consulting services to TPHGreenwich, earning up to $1.9 million based on specific property-related milestones, subject to available cash. Additionally, TPHS Lender LLC will support Messinger’s election to the board until mid-2026. Amidst these changes, Alan Cohen resigned from the board without any reported disputes.

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