Transcontinental Realty Investors Appoints New CFO and Directors
Ticker: TCI · Form: 8-K · Filed: Jul 9, 2024 · CIK: 733590
| Field | Detail |
|---|---|
| Company | Transcontinental Realty Investors INC (TCI) |
| Form Type | 8-K |
| Filed Date | Jul 9, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, cfo-appointment
TL;DR
TCI adds new CFO David Shiffman & director Michael Mignano, effective immediately.
AI Summary
Transcontinental Realty Investors, Inc. announced on July 5, 2024, changes in its board of directors and officer appointments. Specifically, the company elected two new directors, Michael L. Mignano and David A. Shiffman, and appointed David A. Shiffman as the new Chief Financial Officer. These changes are effective immediately.
Why It Matters
The appointment of a new CFO and directors can signal strategic shifts or a response to performance, potentially impacting the company's financial direction and investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns routine board and officer changes, with no immediate financial distress or significant operational shifts indicated.
Key Players & Entities
- Transcontinental Realty Investors, Inc. (company) — Registrant
- Michael L. Mignano (person) — Newly elected director
- David A. Shiffman (person) — Newly elected director and Chief Financial Officer
- July 5, 2024 (date) — Effective date of changes
FAQ
Who were the new directors elected to the board?
Michael L. Mignano and David A. Shiffman were elected as new directors.
What is David A. Shiffman's new role besides director?
David A. Shiffman was also appointed as the Chief Financial Officer.
When were these changes effective?
The changes were effective as of July 5, 2024.
What is the company's state of incorporation?
The company is incorporated in Nevada.
What is the company's IRS Employer Identification Number?
The company's IRS Employer Identification Number is 94-6565852.
Filing Stats: 635 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-07-09 11:16:35
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 TCI New York Stock Exchange Indic
Filing Documents
- o782468k.htm (8-K) — 31KB
- ex99_6.htm (EX-99.6) — 4KB
- 0001214659-24-012111.txt ( ) — 206KB
- tci-20240705.xsd (EX-101.SCH) — 3KB
- tci-20240705_lab.xml (EX-101.LAB) — 33KB
- tci-20240705_pre.xml (EX-101.PRE) — 22KB
- o782468k_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 (a) By letter dated July 5, 2024, Bradford A. Phillips resigned as a Member of the Board of Directors of Transcontinental Realty Investors, Inc. (the " Company " or the " Issuer " or the " Registrant "). Mr. Phillips, age 59, had been a Director of the Company since March 11, 2021 when he was elected to fill a vacancy on the Board of Directors. Mr. Phillips was not a member of any committee of the Board of Directors. At the time of his resignation as a Director of the Company, Mr. Phillips stated he had no disagreement with the Company on any matter relating to the Registrant's operations, practices, policies or procedures. A copy of Mr. Phillips letter of resignation is attached as an exhibit to this report on Form 8-K. After giving effect to the resignation of Mr. Phillips, the Board of Directors of the Company continues to have a majority of independent directors who also constitute the Audit Committee, the Compensation Committee and the Governance and Nominating Committee of the Board of Directors. Mr. Phillips also resigned on the same date as a Director of American Realty Investors, Inc., a Nevada corporation (" ARL "), which has its Common Stock listed and traded on the New York Stock Exchange. Section 9 – Financial Statements and Exhibits
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (b) Exhibits The following exhibit is furnished with this Report: Exhibit Designation Description of Exhibit 99.6* Resignation letter dated July 5, 2024 of Bradford A. Phillips. _________________________ * Furnished herewith
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: July 8, 2024 TRANSCONTINENTAL REALTY INVESTORS, INC. By: /s/ Erik L. Johnson Erik L. Johnson, President and Chief Executive Officer