Safe & Green Holdings Corp. Files 8-K on Officer/Director Changes
Ticker: OLOX · Form: 8-K · Filed: Jan 7, 2025 · CIK: 1023994
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-changes, filing
TL;DR
SAFE 8-K: Leadership changes and compensation details filed Jan 7, 2025.
AI Summary
Safe & Green Holdings Corp. (formerly SG Blocks, Inc.) filed an 8-K on January 7, 2025, reporting events as of January 3, 2025. The filing pertains to the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements. It also includes financial statements and exhibits.
Why It Matters
This filing indicates potential shifts in the company's leadership and executive compensation structure, which could impact strategic direction and investor confidence.
Risk Assessment
Risk Level: medium — Changes in directors and officers, especially when coupled with compensatory arrangements, can signal internal shifts that may affect future performance or strategy.
Key Players & Entities
- SAFE & GREEN HOLDINGS CORP. (company) — Registrant
- SG BLOCKS, INC. (company) — Former Company Name
- CDSI HOLDINGS INC (company) — Former Company Name
- PC411 INC (company) — Former Company Name
- January 3, 2025 (date) — Earliest event reported
- January 7, 2025 (date) — Filing Date
FAQ
What specific officer or director positions were affected by the events reported on January 3, 2025?
The filing indicates "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers" but does not specify names or exact roles within this 8-K excerpt.
What are the details of the compensatory arrangements for the officers mentioned?
The filing lists "Compensatory Arrangements of Certain Officers" as an item, but the specific details of these arrangements are not provided in this excerpt.
When was Safe & Green Holdings Corp. previously known by another name?
The company was formerly known as SG Blocks, Inc. (name change on November 22, 2011), CDSI Holdings Inc (name change on January 14, 1999), and PC411 Inc (name change on October 1, 1996).
What is the primary business of Safe & Green Holdings Corp. according to its SIC code?
Safe & Green Holdings Corp. is classified under Standard Industrial Classification code 5030, which is Wholesale-Lumber & Other Construction Materials.
What is the filing date and the period of report for this 8-K?
This 8-K was filed on January 7, 2025, and the period of report is January 3, 2025.
Filing Stats: 817 words · 3 min read · ~3 pages · Grade level 11.4 · Accepted 2025-01-06 19:28:41
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 SGBX The Nasdaq Stock Market LLC
- $250,000 — t provides for an annual base salary of $250,000 which shall be increased to $400,000 up
- $400,000 — of $250,000 which shall be increased to $400,000 upon the closing of a capital event whi
- $50,000 — iciency with Nasdaq, a signing bonus of $50,000 payable within thirty (30) days of the
Filing Documents
- ea0226969-8k_safe.htm (8-K) — 29KB
- ea022696901ex10-1_safe.htm (EX-10.1) — 33KB
- 0001213900-25-001309.txt ( ) — 244KB
- sgbx-20250103.xsd (EX-101.SCH) — 3KB
- sgbx-20250103_lab.xml (EX-101.LAB) — 33KB
- sgbx-20250103_pre.xml (EX-101.PRE) — 22KB
- ea0226969-8k_safe_htm.xml (XML) — 4KB
02. Departure of Directors or Certain
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 3, 2025, the Board of Directors (the "Board") of Safe & Green Holdings Corp (the "Company") approved the appointment of Michael McLaren as the Company's Chief Executive Officer and on January 5, 2025, the Company entered into an employment agreement with Mr. McLaren (the "Employment Agreement") to employ Mr. McLaren in such capacity for an initial term of two (2) years, which Employment Agreement provides for an annual base salary of $250,000 which shall be increased to $400,000 upon the closing of a capital event which cures the Company's stockholders' equity deficiency with Nasdaq, a signing bonus of $50,000 payable within thirty (30) days of the Employment Agreement's effective date, a long-term incentive bonus with a range of between two (2) to four (4) times Mr. McLaren's then-base salary, subject to approval by the Company's Board of Directors. On January 3, 2025, the Board of Directors (the "Board") appointed Michael McLaren as a director of the Company. Mr. McLaren will serve until the date of the Company's 2025 Annual Meeting of Shareholders (the "2025 Annual Meeting") and until his successor is duly elected and qualified. As an employee director, Mr. McLaren will not participate in the Company's non-employee director compensation program. Mr. McLaren brings more than 30 years of leadership experience in the energy industry, including significant contributions to military and energy projects, field services, and mergers and acquisitions. He is the founder of several startups where he has led innovative energy solutions, manufacturing systems and is the developer and patent holder of an extensive catalog of energy and green technologies. Mr. McLaren earned a Master's Degree in Science and a Master's Degree in Business from the University of British Columbia. Mr. McLaren is subject to a o
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits Exhibit Number Description 10.1 Employment Agreement, dated January 5, 2025, between Safe & Green Holdings Corp. and Michael McLaren 104 Cover Page Interactive Data File (embedded within the inline XBRL document) 1
SIGNATURES
SIGNATURES 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. SAFE & GREEN HOLDINGS CORP. Dated: January 6, 2025 By: /s/ Patricia Kaelin Name: Paticia Kaelin Title: Chief Financial Officer 2