form8k_31909.htm
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)
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March
18, 2009
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AMERICAN
COMMUNITY PROPERTIES TRUST
(Exact
name of registrant as specified in its charter)
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MARYLAND
(State
or other jurisdiction
of
incorporation)
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1-14369
(Commission
File
Number)
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52-2058165
(I.R.S.
Employer
Identification
No.)
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222
Smallwood Village Center
St.
Charles, Maryland 20602
(Address
of principal executive offices)(Zip Code)
(301)
843-8600
(Registrant's
telephone number, including area code)
Not
Applicable
(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))
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Item 5.02
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Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
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(d) Appointment of Trustee
On March 18, 2009, Ross
B. Levin was appointed as a trustee of American Community Properties Trust
(“ACPT” or the “Company) to fill a vacancy on the Board of Trustees, effective
March 18, 2009 for a term that will expire at the 2011 Annual Meeting of the
Shareholders. ACPT’s Nominating and Corporate Governance Committee
recommended Mr. Levin be appointed as a trustee of ACPT and to serve as a member
of the Audit Committee of the Board of Trustees. Mr. Levin meets the
requirements of the NYSE Amex (formerly known as the American Stock Exchange)
for service as an independent trustee.
Ross B. Levin
is a securities analyst for Arbiter Partners, LP, a private investment
partnership managed by Paul J. Isaac. Mr. Levin has served Arbiter
Partners, LP since June 2005. Prior to that, Mr. Levin was an agent
for the Hogan Companies, a land development and brokerage firm headquartered in
Annapolis, Maryland, from May 2004 to March 2005, where he brokered land
acquisitions for regional and national builders as well as analyzed land
development opportunities for the firm’s account. Mr. Levin has been a
member of the New York Society of Securities Analysts since 2006.
In
connection with his election, Mr. Levin will be entitled to receive the
standard remuneration provided to the Company’s non-management trustees. This
remuneration includes a quarterly cash retainer in the amount of $10,000 and an
annual grant of restricted shares valued at $30,000 based on the terms of the
Company's share incentive plan, which shall entitle the holder to any dividends
declared on the Company's common shares and shall become fully vested on the
first anniversary of the grant date.
SIGNATURES
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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AMERICAN COMMUNITY PROPERTIES
TRUST
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(Registrant)
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Dated:
March 23, 2009
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By:/s/Matthew
M. Martin
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Matthew
M. Martin
Chief
Financial Officer
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