SUN COMMUNITIES INC 8-K

What Happened
Sun Communities, Inc. (SUI) filed an 8-K reporting that on February 4, 2026 it appointed Fernando Castro‑Caratini as Chief Financial Officer, Executive Vice President, Secretary and Treasurer on an interim basis, and that Mark E. Patten departed those roles the same day. The company entered an Amended and Restated Transition Services Agreement effective February 4, 2026 (filed as Exhibit 10.1) to govern Mr. Castro‑Caratini’s interim service while the company searches for a permanent CFO.

Key Details

• Interim appointment effective February 4, 2026; Transition Period runs through February 28, 2027 unless earlier terminated.
• Mr. Castro‑Caratini will be paid $45,833 per month and receive employee benefits during the Transition Period.
• Performance compensation: up to $1,100,000 cash bonus for 2026 (as determined by the Compensation Committee) and an additional $1,000,000 "Tenure Bonus" if he serves through Feb 28, 2027.
• Separation payment to former CFO Mark Patten: $3,000,000. Incentive payments may be subject to the company’s Executive Compensation Recovery (clawback) policy.

Why It Matters
This 8‑K signals a top finance leadership change at Sun Communities and outlines the company's interim pay and incentive commitments while it seeks a permanent CFO. Investors should note the near‑term cash commitments (monthly salary and potential bonuses) and the $3.0M separation payment to the departing CFO. The filing does not report any disagreement over accounting or financial reporting related to the departure.