Medalist REIT Stockholders Approve Charter Amendment
Ticker: MDRR · Form: 8-K · Filed: Sep 16, 2024 · CIK: 1654595
| Field | Detail |
|---|---|
| Company | Medalist Diversified Reit, Inc. (MDRR) |
| Form Type | 8-K |
| Filed Date | Sep 16, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: charter-amendment, shareholder-vote, corporate-governance
TL;DR
Medalist REIT got shareholder approval to double its authorized shares, paving the way for future growth.
AI Summary
On September 12, 2024, Medalist Diversified REIT, Inc. announced the results of its special meeting of stockholders. The stockholders voted on the approval of an amendment to the company's charter to increase the number of authorized shares of common stock from 50,000,000 to 100,000,000. The amendment was approved by the stockholders.
Why It Matters
This charter amendment allows Medalist Diversified REIT to issue more shares, potentially enabling future fundraising or strategic acquisitions.
Risk Assessment
Risk Level: low — The filing reports on a routine shareholder vote to amend the company's charter, which is a standard corporate governance action.
Key Numbers
- 100,000,000 — Authorized Common Stock Shares (Increased number of shares approved by stockholders.)
- 50,000,000 — Previous Authorized Common Stock Shares (The number of shares before the amendment.)
Key Players & Entities
- Medalist Diversified REIT, Inc. (company) — Registrant
- September 12, 2024 (date) — Date of earliest event reported
- September 16, 2024 (date) — Date of report
- 100,000,000 (dollar_amount) — New authorized number of common stock shares
- 50,000,000 (dollar_amount) — Previous authorized number of common stock shares
FAQ
What was the primary purpose of the special meeting of stockholders for Medalist Diversified REIT, Inc. on September 12, 2024?
The primary purpose was to vote on and approve an amendment to the company's charter to increase the number of authorized shares of common stock.
What specific change was proposed to Medalist Diversified REIT's charter?
The proposed change was to increase the authorized number of common stock shares from 50,000,000 to 100,000,000.
Did the stockholders of Medalist Diversified REIT approve the charter amendment?
Yes, the filing indicates that the amendment was approved by the stockholders.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is September 12, 2024.
What is the principal executive office address for Medalist Diversified REIT, Inc.?
The principal executive offices are located at P.O. Box 8436, Richmond, VA 23226.
Filing Stats: 734 words · 3 min read · ~2 pages · Grade level 9.8 · Accepted 2024-09-16 17:20:12
Key Financial Figures
- $0.01 — ed Trading Symbol(s) Common Stock, $0.01 par value Nasdaq Capital Market MDR
Filing Documents
- mdrr-20240912x8k.htm (8-K) — 54KB
- 0001558370-24-012819.txt ( ) — 206KB
- mdrr-20240912.xsd (EX-101.SCH) — 4KB
- mdrr-20240912_def.xml (EX-101.DEF) — 14KB
- mdrr-20240912_lab.xml (EX-101.LAB) — 19KB
- mdrr-20240912_pre.xml (EX-101.PRE) — 13KB
- mdrr-20240912x8k_htm.xml (XML) — 7KB
07
Item 5.07 Submission of Matters to a Vote of Security Holders On September 12, 2024, the Company held its 2024 annual meeting of stockholders (the "2024 Annual Meeting), in which the stockholders voted on the following proposals: Proposal No. 1: The election of one Class I director to serve for a three-year term until the 2027 annual meeting of stockholders (the "2027 Annual Meeting") or until his successor is duly elected and qualified. Nominee Votes For Votes Withheld David Lunin 419,745 52,454 There were 492,373 broker non-votes and no abstentions in connection with Proposal No. 1. The one Class I director was elected to the Company's Board of Directors (the "Board") to serve for a three-year term until the 2027 Annual Meeting or until his successor is duly elected and qualified. Proposal No. 2: The approval, on an advisory and non-binding basis, of the compensation of the Company's named executive officers. Votes For Votes Against Abstentions 581,443 48,076 2,407 There were 332,647 broker non-votes in connection with Proposal No. 2. Proposal No. 3: The approval, on an advisory and non-binding basis, of the frequency of future advisory votes on the compensation of the Company's named executive officers. One Year Two Years Three Years Abstentions 616,713 243,218 9,732 4,390 There were 332,647 broker non-votes in connection with Proposal No. 3. Proposal No. 4: The ratification of the appointment of Cherry Bekaert LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. Votes For Votes Against Abstentions 933,413 24,439 6,718 There were no broker non-votes in connection with Proposal No. 4. Proposal No. 5: The approval of an amendment to the Company's Articles of Incorporation to effect a reverse stock split of the Company's outstanding common stock by a ratio of any whole number in the range of 1-for-10 to 1-for-100, with such ratio to be determined in the di