Zuma Capital Adjusts Presidio Property Trust Stake

TL;DR

Zuma Capital now owns 5.1% of Presidio Property Trust after filing an amendment.

AI Summary

Zuma Capital Management filed Amendment No. 2 to its Schedule 13D on March 13, 2024, regarding its holdings in Presidio Property Trust, Inc. The filing indicates a change in beneficial ownership, with Zuma Capital Management now holding 1,140,000 shares, representing approximately 5.1% of the outstanding common stock. This filing follows a previous amendment and suggests ongoing activity or adjustments in Zuma's investment strategy concerning Presidio Property Trust.

Why It Matters

This filing signals a potential shift in the shareholder landscape of Presidio Property Trust, which could influence future corporate actions or stock performance.

Risk Assessment

Risk Level: medium — Changes in significant shareholder positions can indicate potential activist involvement or strategic shifts, introducing uncertainty.

Key Numbers

• 1,140,000 — Shares Owned (Represents Zuma Capital Management's beneficial ownership in Presidio Property Trust.)
• 5.1% — Ownership Stake (Indicates the percentage of Presidio Property Trust's common stock held by Zuma Capital Management.)

Key Players & Entities

• Zuma Capital Management (company) — Filer of the Schedule 13D amendment
• Presidio Property Trust, Inc. (company) — Subject company of the filing
• 1,140,000 (dollar_amount) — Number of shares beneficially owned by Zuma Capital Management
• 5.1% (dollar_amount) — Percentage of outstanding common stock held by Zuma Capital Management
• March 13, 2024 (date) — Date of the filing

FAQ

Key Financial Figures

• $0.01 — Name of Issuer) Series A Common Stock, $0.01 par value per share (Title of Class o

Filing Documents

• sc13da214008002_03132024.htm (SC 13D/A) — 358KB
• ex991toda214008002_031324.pdf (SC 13D/A) — 133KB
• 0000921895-24-000652.txt ( ) — 544KB

Purpose of Transaction

Item 4. Purpose of Transaction

is hereby amended

Item 4 is hereby amended to add the following: On March 13, 2024, the Reporting Persons issued a press release and open letter to the Issuer’s stockholders (the “March 13 Letter”) announcing their nomination of five highly qualified, independent candidates, Reuben Berman, Stefani Carter, Vito Garfi, Brent Morrison and Elena Piliptchak, for election to the Issuer’s Board of Directors (the “Board”) at the Issuer’s 2024 Annual Meeting of Stockholders (the “Annual Meeting”). In the March 13 Letter, the Reporting Persons detail why they believe the Board must be refreshed to restore accountability, drive stockholder value and execute a turnaround at the Issuer. Additionally, in the March 13 Letter, the Reporting Persons explain that the market undervalues the Issuer's assets, as reflected by its current stock price, and that the value disconnect derives from the potential conflicts of interest between the Issuer and CEO and Chairman of the Board Jack Heilbron’s external business interests. Further, in the March 13 Letter, the Reporting Persons criticize the Board’s recent approval of various long-term employment contracts with the Issuer’s executives in an apparent reactionary response to legitimate stockholder feedback. The foregoing description of the March 13 Letter does not purport to be complete and is qualified in its entirety by reference to the March 13 Letter, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits.

is hereby amended

Item 7 is hereby amended to add the following exhibit: 99.1 Letter to Stockholders, dated March 13, 2024. 15 CUSIP No. 74102L303

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or her knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: March 13, 2024 Zuma Capital Management, LLC By: /s/ Brent Morrison Name: Brent Morrison Title: Managing Member ZCM Opportunities Fund, LP By: /s/ Brent Morrison Name: Brent Morrison Title: Managing Member /s/ Brent Morrison Brent Morrison Samara Growth Fund, LP By: Ouray Fund Management, LLC General Partner By: /s/ Elena Piliptchak Name: Elena Piliptchak Title: Managing Member Samara Select Fund, LP By: Ouray Fund Management, LLC General Partner By: /s/ Elena Piliptchak Name: Elena Piliptchak Title: Managing Member 16 CUSIP No. 74102L303 Ouray Select, LP By: Ouray Fund Management, LLC General Partner By: /s/ Elena Piliptchak Name: Elena Piliptchak Title: Managing Member Ouray Partners International Ltd. By: /s/ Elena Piliptchak Name: Elena Piliptchak Title: Sole Director Ouray Fund Management, LLC By: /s/ Elena Piliptchak Name: Elena Piliptchak Title: Managing Member Ouray Capital Management, LLC By: /s/ Elena Piliptchak Name: Elena Piliptchak Title: Managing Member /s/ Elena Piliptchak Elena Piliptchak /s/ Vito Garfi Vito Garfi /s/ Reuben Berman Reuben Berman /s/ Stefani Carter Stefani Carter 17

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View this SC 13D/A filing on SEC EDGAR