Independence Realty Trust, Inc. announced the appointment of Craig Macnab to its Board of Directors, effective February 29, 2024. Mr. Macnab brings over 20 years of experience to IRT?s Board after serving in various executive and board roles in the REIT industry, including most recently as CEO of National Retail Properties, Inc. for 13 years. Mr. Macnab?s appointment increases the size of IRT?s Board to 10 members, including 8 independent directors.

In connection with this announcement, the Company has entered into a cooperation agreement with Argosy-Lionbridge Management, LLC (ALM), an IRT stockholder. IRT also announced that its Board has reaffirmed the Company?s commitment to leadership in corporate governance practices by waiving the option to classify its Board under provisions of the Maryland Unsolicited Takeover Act, or MUTA, unless first approved by the stockholders of the Company by a majority of the votes cast on the matter. Citigroup served as financial advisor and Latham & Watkins served as legal advisor to the Company.