Equity LifeStyle Names Patrick Waite CEO as Marguerite Nader Moves to Executive Vice Chair
Equity LifeStyle Properties has picked a longtime insider as its next chief executive. President and Chief Operating Officer Patrick Waite will take over as CEO on Jan. 1, 2027, the manufactured-housing and RV resort landlord said in an 8-K filed Friday.
Marguerite Nader will step down as Vice Chairman and CEO at the end of 2026 and stay on the board as Executive Vice Chair. The board approved the changes on Oct. 27 as part of what the company called a multi-year succession plan, and the company announced them in a news release that day. Nader's move is not the result of any disagreement with the company, the filing said.
A bench promotion
Waite, 60, has been President since April 2025 and Chief Operating Officer since January 2015. He will also join the board on Jan. 1, which grows it from nine to ten directors. He will not be independent, will not sit on a committee and will get no extra pay for board service.
David Eldersveld, 52, the company's chief legal officer and corporate secretary since February 2021, will add the title of Chief Operating Officer. Chief Financial Officer Paul Seavey and Chief Accounting Officer Caroline Karp stay in their roles.
Pay terms for Waite and Eldersveld, including the 2027 bonus plan and stock awards, have not been set yet. The company said it will amend the 8-K within four business days once they are.
Nader's transition terms
As Executive Vice Chair, Nader will be paid under the standard director compensation program plus other arrangements. Her 29,592 unvested restricted shares that were due to vest in 2028 or 2029 will instead vest in full on Dec. 31, 2026, if she is still employed then, regardless of performance conditions. Another 28,644 shares scheduled to vest in 2027 keep their current terms. She also remains eligible for a 2026 bonus.
Dividend
The board also declared a fourth-quarter dividend of $0.5425 per share, or $2.17 annualized. It will be paid Jan. 8, 2027, to holders of record on Dec. 24, 2026.
Sources
- Equity LifeStyle Properties Form 8-K on leadership changes and dividend, filed Oct. 30, 2026 (accession 0001628280-26-068595)
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