Sun Communities Appoints Former CFO Fernando Castro-Caratini as Interim CFO

summarizeSummary

Sun Communities announced the amicable departure of its CFO and appointed former CFO Fernando Castro-Caratini as interim CFO, initiating a search for a permanent replacement.

check_boxKey Events

• CFO Departure

  Mark E. Patten departed from his role as Chief Financial Officer, Executive Vice President, Secretary, and Treasurer on February 4, 2026. His departure was a mutual decision and not due to disagreements over financial policies. He will receive $3.0 million in separation payments.

• Interim CFO Appointment

  Fernando Castro-Caratini was appointed as interim Chief Financial Officer, Executive Vice President, Secretary, and Treasurer, effective February 4, 2026. Mr. Castro-Caratini previously served as CFO for approximately four years and was most recently a senior advisor to the company.

• Search for Permanent CFO

  The company has initiated a broad, comprehensive search to identify a permanent Chief Financial Officer.

• Interim CFO Compensation Package

  Mr. Castro-Caratini's compensation includes a monthly salary of $45,833, eligibility for a 2026 cash bonus of up to $1,100,000 (with a target of $550,000), and an additional $1,000,000 tenure bonus if he serves as CFO until February 28, 2027. Additionally, 15,000 unvested restricted shares will accelerate and vest on March 8, 2026.

auto_awesomeAnalysis

Sun Communities announced a leadership transition in its finance department, with the amicable departure of its Chief Financial Officer and the appointment of a former CFO to an interim role. This move provides continuity during the search for a permanent replacement, with a substantial incentive package designed to secure experienced leadership through the transition period.