Whitestone REIT Proxy Solicitation Filed

TL;DR

Whitestone REIT filed its proxy statement, shareholders need to vote.

AI Summary

Whitestone REIT filed a DEFA14A proxy statement on May 6, 2024, related to its annual meeting. The filing indicates that the company is soliciting proxies from its shareholders. Specific details regarding the proposals or resolutions to be voted on are not fully detailed in the provided text, but it is a standard solicitation for shareholder votes.

Why It Matters

This filing is important for shareholders as it outlines the company's official communication for its annual meeting, where key decisions are made and votes are cast.

Risk Assessment

Risk Level: low — This is a routine proxy filing for an annual meeting, not indicating any immediate financial distress or unusual corporate action.

Key Players & Entities

• Whitestone REIT (company) — Registrant
• 2600 SOUTH GESSNER STREET SUITE 500 (company) — Business Address
• HOUSTON (company) — Business Address City
• TX (company) — Business Address State
• 77063 (company) — Business Address Zip
• 713-827-9595 (company) — Business Phone
• HARTMAN COMMERCIAL PROPERTIES REIT (company) — Former Company Name

FAQ

Filing Documents

• wstr20240506_defa14a.htm (DEFA14A) — 20KB
• pic1.jpg (GRAPHIC) — 156KB
• pic2.jpg (GRAPHIC) — 145KB
• pic3.jpg (GRAPHIC) — 71KB
• pic4.jpg (GRAPHIC) — 120KB
• 0001437749-24-014752.txt ( ) — 699KB

From the Filing

wstr20240506_defa14a.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 14A (RULE 14a-101) PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to Section 240.14a-12 Whitestone REIT (Name of Registrant as Specified in Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Whitestone REIT Exposes New Information Revealing that Erez Nominee Bruce Schanzer Colluded with Terminated Whitestone Chairman and CEO James Mastandrea in a Failed Attempt to Acquire Whitestone Reflects Schanzer ' s pattern of lies, deception and self-dealing Schanzer has been disingenuous and is leading a duplicitous proxy battle HOUSTON, May 6, 2024 -- Whitestone REIT (NYSE:WSR) ("Whitestone" or the "Company") has received new information revealing that Erez Asset Management ("Erez") nominee Bruce Schanzer colluded in late 2023 with terminated Whitestone Chairman and CEO James Mastandrea in an attempt to acquire Whitestone. For context, in January 2022, Whitestone Trustees David Taylor and Nandita Berry guided the Board in taking the difficult step of terminating Chairman and CEO, James Mastandrea. They have since spearheaded an effort, along with Whitestone's new management team, to reset the Company on a new trajectory. Our reset strategy has been successful since its inception on January 18, 2022, with Whitestone REIT delivering superior total returns to shareholders under the leadership of CEO David Holeman. This newly obtained material – an investor "pitch" presentation that Erez developed in 2023 (depicted below) – puts a clear spotlight on the ulterior motives of Mr. Schanzer, who it is revealed "has had a number of meetings with Mr. Mastandrea" and believes that Mr. Mastandrea "will be cooperative and supportive of an Erez-led effort to acquire Whitestone". "The willingness of Mastandrea andPillarstone to be constructive regarding an Erez approach" demonstrates that Erez, Mastandrea and Pillarstone are acting in concert. It also reveals a pattern of lies and deception by Mr. Schanzer, supported by a track record of conflicted, self-dealing transactions. Further, Mr. Schanzer lied in his interviews with our Nominating and Governance Committee and by extension, to our shareholders, by stating that he had no ties to Mr. Mastandrea. This directly and flagrantly contradicts Erez's own statements in its pitch deck. We urge all shareholders to be wary and realize that Mr. Schanzer will continue his duplicitous campaign of double-talk and deception if elected to our Board. Mr. Schanzer and Mr. Mastandrea's collusion could also be an attempt by Mr. Mastandrea to settle the score with those who held him accountable and terminated his employment for cause: David Taylor and Nandita Berry. We urge shareholders to protect the value of their investment and NOT to vote for Bruce Schanzer or ANY Erez nominees. Please vote the WHITE proxy card and support ALL of the Whitestone nominees. About Whitestone REIT Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. Our centers are convenience focused: merchandised with a mix of service-oriented tenants providing food (restaurants and grocers), self-care (health and fitness), services (financial and logistics), education and entertainment to the surrounding communities. The Company believes its strong community connections and deep tenant relationships are key to the success of its current centers and its acquisition strategy. For additional information, please visit www.whitestonereit.com. Important Additional Information and Where to Find It Whitestone REIT has filed a definitive proxy statement on Schedule 14A (the "2024 Proxy Statement") and a WHITE proxy card with the U.S. Securities and Exchange Commission (the "SEC") in connection with the solicitation of proxies for its 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"). SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE 2024 PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), THE WHITE PROXY CARD, AND ANY OTHER DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders may obtain a free copy of the

View Full Filing

View this DEFA14A filing on SEC EDGAR