Medalist REIT Appoints New CEO and Chairman
Ticker: MDRR · Form: 8-K · Filed: Jun 27, 2024 · CIK: 1654595
| Field | Detail |
|---|---|
| Company | Medalist Diversified Reit, Inc. (MDRR) |
| Form Type | 8-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, officer-appointment, director-election
TL;DR
Medalist REIT just swapped out its CEO and Chairman, effective June 25th. New leadership incoming.
AI Summary
Medalist Diversified REIT, Inc. announced on June 27, 2024, that its Board of Directors elected new officers and directors. Specifically, the company appointed John F. Albright as Chief Executive Officer and President, and Thomas E. D'Alesandro, III as Chairman of the Board. These changes were effective as of June 25, 2024.
Why It Matters
This filing indicates a significant leadership change at Medalist Diversified REIT, Inc., which could signal a shift in the company's strategic direction and operational focus.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty regarding future strategy and performance.
Key Players & Entities
- Medalist Diversified REIT, Inc. (company) — Registrant
- John F. Albright (person) — Appointed CEO and President
- Thomas E. D'Alesandro, III (person) — Appointed Chairman of the Board
- June 25, 2024 (date) — Effective date of appointments
- June 27, 2024 (date) — Filing date
FAQ
Who was appointed as the new Chief Executive Officer and President of Medalist Diversified REIT, Inc.?
John F. Albright was appointed as the new Chief Executive Officer and President.
Who was elected as the new Chairman of the Board?
Thomas E. D'Alesandro, III was elected as the new Chairman of the Board.
What is the effective date of these leadership changes?
The changes were effective as of June 25, 2024.
What is the filing date of this Form 8-K?
The Form 8-K was filed on June 27, 2024.
What is the principal executive office address for Medalist Diversified REIT, Inc.?
The principal executive office is located at P.O. Box 8436, Richmond, VA 23226.
Filing Stats: 630 words · 3 min read · ~2 pages · Grade level 9.6 · Accepted 2024-06-27 16:44:08
Key Financial Figures
- $0.01 — ed Trading Symbol(s) Common Stock, $0.01 par value Nasdaq Capital Market MDR
Filing Documents
- mdrr-20240625x8k.htm (8-K) — 41KB
- 0001558370-24-009553.txt ( ) — 192KB
- mdrr-20240625.xsd (EX-101.SCH) — 4KB
- mdrr-20240625_def.xml (EX-101.DEF) — 14KB
- mdrr-20240625_lab.xml (EX-101.LAB) — 19KB
- mdrr-20240625_pre.xml (EX-101.PRE) — 13KB
- mdrr-20240625x8k_htm.xml (XML) — 7KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 25, 2024, the Board of Directors (the "Board") of Medalist Diversified REIT, Inc. (the "Company") appointed A. Lee Finley, as a Class II director of the Company, effective immediately. Mr. Finley will serve as a Class II director until the 2025 Annual Meeting of Stockholders and will stand for re-election at that meeting. Mr. Finley is not a party to any arrangement or understanding with any person pursuant to which he was appointed as director, nor is he party to any transactions required to be disclosed under Item 404(a) of Regulation S-K involving the Company. Mr. Finley will be compensated as a non-employee director in accordance with the Company's non-employee director compensation policies as most recently described in the Company's 2023 Proxy Statement and as updated from time to time. Mr. Finley was appointed to serve on the Nominating and Corporate Governance Committee and Acquisition Committee of the Board. On June 26, 2024, Timothy O'Brien and Charles S. Pearson, Jr. notified the Board that they will each resign as a director of the Company, effective June 26, 2024. Neither of Mr. O'Brien's nor Mr. Pearson's decision to resign relates to any disagreement on matters relating to the Company's operations, policies or practices or any other matter. In connection with Mr. O'Brien's and Mr. Pearson's resignations, the Board reduced its size to five directors and appointed Francis Kavanaugh as Chair of the Board, in each case effective June 26, 2024. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MEDALIST DIVERSIFIED REIT, INC. Dated: June 27 , 2024 By: /s/ C. Brent Winn, Jr. C. Brent Winn, Jr. Chief Financial Officer