Presidio Property Trust Reports Officer/Director Changes, Comp Arrangements

TL;DR

**Presidio Property Trust just filed an 8-K about leadership and pay changes, keep an eye on the details.**

AI Summary

Presidio Property Trust, Inc. filed an 8-K on February 9, 2024, reporting an event that occurred on February 6, 2024. This filing indicates a change related to the company's directors or officers and their compensation arrangements, as well as financial statements and exhibits. While the specific details of the changes are not provided in this excerpt, investors should be aware that leadership and compensation shifts can impact company strategy and financial performance, potentially affecting the stock's future value.

Why It Matters

Changes in leadership and executive compensation can signal shifts in company direction or financial health, directly influencing investor confidence and the stock's valuation.

Risk Assessment

Risk Level: medium — The filing indicates changes in leadership and compensation, which can introduce uncertainty regarding future company strategy and performance, warranting a medium risk assessment.

Analyst Insight

Investors should monitor subsequent filings for specific details on the leadership and compensation changes, as these can significantly impact the company's strategic direction and financial outlook. A deeper dive into the 'Financial Statements and Exhibits' mentioned would be prudent once available.

Key Players & Entities

• Presidio Property Trust, Inc. (company) — the registrant filing the 8-K
• February 6, 2024 (date) — date of the earliest event reported
• February 9, 2024 (date) — date the 8-K was filed
• Maryland (company) — state of incorporation for Presidio Property Trust, Inc.
• 001-34049 (company) — Commission File Number for Presidio Property Trust, Inc.
• 33-0841255 (company) — IRS Employer Identification No. for Presidio Property Trust, Inc.
• 4995 Murphy Canyon Road, Suite 300, San Diego, California 92123 (company) — address of principal executive offices for Presidio Property Trust, Inc.
• (760) 471-8536 (company) — telephone number for Presidio Property Trust, Inc.

Forward-Looking Statements

• Further details regarding the specific changes in directors, officers, and compensation will be disclosed in subsequent filings or amendments. (Presidio Property Trust, Inc.) — high confidence, target: 2024-03-31

FAQ

Key Financial Figures

• $0.01 — ich registered Series A Common Stock, $0.01 par value per share SQFT The Nasdaq
• $250,224 — r will receive an annual base salary of $250,224 which shall be reviewed annually by the
• $325,550 — z will receive an annual base salary of $325,550 which shall be reviewed annually by the
• $230,000 — n will receive an annual base salary of $230,000 which shall be reviewed annually by the

Filing Documents

• form8-k.htm (8-K) — 57KB
• ex10-1.htm (EX-10.1) — 107KB
• ex10-2.htm (EX-10.2) — 117KB
• ex10-3.htm (EX-10.3) — 114KB
• 0001493152-24-005658.txt ( ) — 693KB
• sqft-20240206.xsd (EX-101.SCH) — 4KB
• sqft-20240206_def.xml (EX-101.DEF) — 27KB
• sqft-20240206_lab.xml (EX-101.LAB) — 37KB
• sqft-20240206_pre.xml (EX-101.PRE) — 25KB
• form8-k_htm.xml (XML) — 7KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): February 6, 2024 Presidio Property Trust, Inc. (Exact name of registrant as specified in its charter) Maryland 001-34049 33-0841255 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 4995 Murphy Canyon Road , Suite 300 San Diego , California 92123 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (760) 471-8536 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Series A Common Stock, $0.01 par value per share SQFT The Nasdaq Stock Market LLC 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share SQFTP The Nasdaq Stock Market LLC Series A Common Stock Purchase Warrants to Purchase Shares of Common Stock SQFTW The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Employment Agreement with Steven Hightower On February 6, 2024, Presidio Property Trust, Inc. (the "Company") entered into an employment agreement (the "Hightower Employment Agreement") with the President of the Company's Model Home Division, Steven Hightower. The Hightower Employment Agreement has a term of three years and shall be automatically renewed for additional one year terms unless either party provides three months' written notice. Mr. Hightower will receive an annual base salary of $250,224 which shall be reviewed annually by the Board of Directors of the Company (the "Board") or Compensation Committee thereof and he will be entitled to receive, in addition to his base salary, an annual bonus at a target of up to 100% of his base salary. If Mr. Hightower's employment is terminated for cause, as defined in the Hightower Employment Agreement, or by Mr. Hightower without good reason, as defined in the Hightower Employment Agreement, the Company shall have no obligations other than to pay him the earned and unpaid base salary and accrued but unpaid time off through the date of termination (the "Hightower Accrued Obligations") in cash on the date of termination and provide any vested benefits required to be paid or provided or which Mr. Hightower is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company. If Mr. Hightower's employment is terminated due to death or disability, as defined in the Hightower Employment Agreement, he, or his estate or beneficiaries in the event of his death, will be entitled to receive the Hightower Accrued Obligations, reimbursement for expenses incurred prior to the date of termination and the provision of any vested benefits required to be paid or provided or which Mr. Hightower is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company. If Mr. Hightower terminates his employment for good reason, he will be entitled to (a) the Hightower Accrued Obligations, (b) a cash payment equal to the sum of the his base salary for the year in which the termination date occurs (or if greater, the year immediately preceding the year in which the termination date occurs), (c) a cash payment equal to the mean average of the cash bonus payments received by him during the immediately preceding two years, (d) for the period beginning on the date of termination and ending 12 months following such date, or earlier upon certain circumstances, healthcar

View Full Filing

View this 8-K filing on SEC EDGAR