As filed with the Securities and Exchange Commission
on June 30, 2023
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
TRINITY
PLACE HOLDINGS INC.
(Exact name of registrant as specified in its charter)
| Delaware |
|
22-2465228 |
|
(State or other jurisdiction of
incorporation or organization) |
|
(IRS Employer
Identification No.) |
340 Madison Avenue, Suite 3C
New York, New York 10173
(212) 235-2190
(Address of principal executive offices)(Zip
code)
TRINITY
PLACE HOLDINGS INC. 2015 STOCK INCENTIVE PLAN
(Full title of the plan)
Steven Kahn
Trinity Place Holdings Inc.
Chief Financial Officer
340 Madison Avenue, Suite 3C
New York, New York 10173
(212) 235-2190
(Name and address of agent for service)
(Telephone number, including area code, of agent
for service)
Copies to:
John Bessonette, Esq.
Kramer Levin Naftalis & Frankel LLP
1177 Avenue of the Americas
New York, New York 10036
(212) 715-9100
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of
“large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth
company” in Rule 12b-2 of the Exchange Act.
| Large
accelerated filer ¨ |
Accelerated
filer ¨ |
| Non-accelerated
filer x |
Smaller
reporting company x |
| |
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 7(a)(2)(B) of the Securities Act. ¨
EXPLANATORY NOTE
Trinity Place Holdings Inc. (the “Registrant”)
hereby files this Registration Statement on Form S-8 relating to its common stock, par value $.01 per share (“Common Stock”),
which may be sold upon the exercise of options or pursuant to other types of equity-based awards granted under its Trinity Place Holdings
Inc. 2015 Stock Incentive Plan (as amended, effective April 27, 2023) (the “Amended and Restated Plan”). The original
Trinity Place Holdings Inc. 2015 Stock Incentive Plan was initially adopted on September 9, 2015 and permitted awards to be granted
with respect to a maximum of 800,000 shares of Common Stock, was amended and restated on April 23, 2019 to permit awards to be granted
with respect to an additional 1,000,000 shares of Common Stock, and was further amended on April 23, 2021 to permit awards to be
granted with respect to an additional 1,500,000 shares of Common Stock. Pursuant to the Amended and Restated Plan, up to an additional
2,000,000 shares of Common Stock covered by this Registration Statement may be issued pursuant to awards under the Amended and Restated
Plan from time to time for a total maximum of 5,300,000 shares of Common Stock.
PART I
Information required in the Section 10(a) Prospectus
The document(s) containing the information
specified in this Part I will be sent or given to the participants in the Amended and Restated Plan listed on the cover page of
this Registration Statement as specified by Rule 428(b)(1) under the Securities Act. In accordance with the rules and regulations
of the Securities and Exchange Commission (the “Commission”) and the instructions to Form S-8, such documents
are not being filed as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under
the Securities Act, but constitute (along with the documents incorporated by reference into this Registration Statement pursuant to Item
3 of Part II hereof), taken together, a prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The Registrant hereby incorporates by reference
in this Registration Statement
| · | the description of the Registrant’s Common Stock contained in the Registration Statement on Form 8-A12(b) filed on
December 16, 2015, including any amendment or reports filed for the purpose of updating such description. |
All documents filed by the Registrant pursuant
to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act of 1934, as amended (the “Exchange Act”) subsequent
to the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered
have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration
Statement and to be a part hereof from the date of filing of such documents.
Any statement contained in a document incorporated
or deemed to be incorporated by reference herein and to be a part hereof shall be deemed to be modified or superseded for purposes of
this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is
or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Section 102(b)(7) of the Delaware General
Corporation Law permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be personally
liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability for
any breach of the director’s duty of loyalty to the corporation or its stockholders, for acts or omissions not in good faith or
which involve intentional misconduct or a knowing violation of law, for unlawful payments of dividends or unlawful stock repurchases,
redemptions or other distributions, or for any transaction from which the director derived an improper personal benefit.
Article Eighth of the Registrant’s certificate of incorporation
provides:
“To the fullest extent permitted by law, a director
of the Corporation shall not be personally liable to the Corporation or to its stockholders for monetary damages for any breach of fiduciary
duty as a director. No amendment to, modification of or repeal of this Article shall apply to or have any effect on the liability
or alleged liability of any director of the Corporation for or with respect to any acts or omissions of such director occurring prior
to such amendment, modification or repeal.”
The Registrant’s certificate of incorporation
provides indemnification rights to certain persons to the fullest extent permitted by law. These indemnification rights are set forth
in Article Ninth of the Registrant’s certificate of incorporation, the text of which is set forth below.
Section 145 of the Delaware General Corporation
Law concerning indemnification of officers, directors, employees and agents is set forth below.
“Section 145. Indemnification of officers,
directors, employees and agents; insurance.
(a) A corporation shall have power
to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit
or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by
reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request
of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise,
against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by
the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the person reasonably
believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had
no reasonable cause to believe the person’s conduct was unlawful. The termination of any action, suit or proceeding by judgment,
order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the
person did not act in good faith and in a manner which the person reasonably believed to be in or not opposed to the best interests of
the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that the person’s conduct
was unlawful.
(b) A corporation shall have power
to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit
by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person is or was a director, officer,
employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys’ fees) actually
and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person acted in good
faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation and except that
no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable
to the corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is
fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.
(c) To the extent that a present
or former director or officer of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding
referred to in subsections (a) and (b) of this section, or in defense of any claim, issue or matter therein, such person shall
be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection therewith.
(d) Any indemnification under subsections
(a) and (b) of this section (unless ordered by a court) shall be made by the corporation only as authorized in the specific
case upon a determination that indemnification of the present or former director, officer, employee or agent is proper in the circumstances
because the person has met the applicable standard of conduct set forth in subsections (a) and (b) of this section. Such determination
shall be made, with respect to a person who is a director or officer of the corporation at the time of such determination: (1) By
a majority vote of the directors who are not parties to such action, suit or proceeding, even though less than a quorum; or (2) By
a committee of such directors designated by majority vote of such directors, even though less than a quorum; or (3) If there are
no such directors, or if such directors so direct, by independent legal counsel in a written opinion; or (4) By the stockholders.
(e) Expenses (including attorneys’
fees) incurred by an officer or director of the corporation in defending any civil, criminal, administrative or investigative action,
suit or proceeding may be paid by the corporation in advance of the final disposition of such action, suit or proceeding upon receipt
of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be determined that such person
is not entitled to be indemnified by the corporation as authorized in this section. Such expenses (including attorneys’ fees) incurred
by former directors and officers or other employees and agents of the corporation or by persons serving at the request of the corporation
as directors, officers, employees or agents of another corporation, partnership, joint venture, trust or other enterprise may be so paid
upon such terms and conditions, if any, as the corporation deems appropriate.
(f) The indemnification and advancement
of expenses provided by, or granted pursuant to, the other subsections of this section shall not be deemed exclusive of any other rights
to which those seeking indemnification or advancement of expenses may be entitled under any bylaw, agreement, vote of stockholders or
disinterested directors or otherwise, both as to action in such person’s official capacity and as to action in another capacity
while holding such office. A right to indemnification or to advancement of expenses arising under a provision of the certificate of incorporation
or a bylaw shall not be eliminated or impaired by an amendment to the certificate of incorporation or the bylaws after the occurrence
of the act or omission that is the subject of the civil, criminal, administrative or investigative action, suit or proceeding for which
indemnification or advancement of expenses is sought, unless the provision in effect at the time of such act or omission explicitly authorizes
such elimination or impairment after such action or omission has occurred.
(g) A corporation shall have power
to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or
is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity,
or arising out of such person’s status as such, whether or not the corporation would have the power to indemnify such person against
such liability under this section.
(h) For purposes of this section,
references to “the corporation” shall include, in addition to the resulting corporation, any constituent corporation (including
any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had
power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer,
employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director,
officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position
under this section with respect to the resulting or surviving corporation as such person would have with respect to such constituent corporation
if its separate existence had continued.
(i) For purposes of this section,
references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any
excise taxes assessed on a person with respect to any employee benefit plan; and references to “serving at the request of the corporation”
shall include any service as a director, officer, employee or agent of the corporation which imposes duties on, or involves services by,
such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who
acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an
employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the corporation” as
referred to in this section.
(j) The indemnification and advancement
of expenses provided by, or granted pursuant to, this section shall, unless otherwise provided when authorized or ratified, continue as
to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators
of such a person.
(k) The Court of Chancery is hereby
vested with exclusive jurisdiction to hear and determine all actions for advancement of expenses or indemnification brought under this
section or under any bylaw, agreement, vote of stockholders or disinterested directors, or otherwise. The Court of Chancery may summarily
determine a corporation’s obligation to advance expenses (including attorneys’ fees).”
Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to the Registrant’s directors, officers, and controlling persons pursuant to the
foregoing provisions, or otherwise, we have been advised that in the opinion of the SEC such indemnification is against public policy
as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment of expenses incurred or paid by a director, officer or controlling person in a successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, we
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to the court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the
final adjudication of such issue.
Article Ninth of the Registrant’s certificate of incorporation
provides:
“(i) The Corporation shall indemnify
and hold harmless, to the fullest extent permitted by applicable law as it presently exists or may hereafter be amended, any person (a
“Covered Person”) who was or is made or is threatened to be made a party or is otherwise involved in any action, suit
or proceeding, whether civil, criminal, administrative or investigative (a “proceeding”), by reason of the fact that he or
she, or a person for whom he or she is the legal representative, is or was a director or officer of the Corporation or, while a director
or officer of the Corporation, is or was serving at the request of the Corporation as a director, officer, employee or agent of another
corporation or of a partnership, joint venture, trust, enterprise, nonprofit entity or other entity, including service with respect to
employee benefit plans, against all liability and loss suffered and expenses (including attorneys’ fees) reasonably incurred by
such Covered Person. Notwithstanding the preceding sentence, except as otherwise provided in paragraph (iii) of this Article with
respect to an action brought by a Covered Person to recover an unpaid indemnification or advancement claim to which such Covered Person
is entitled, the Corporation shall be required to indemnify a Covered Person in connection with a proceeding (or part thereof) commenced
by such Covered Person only if the commencement of such proceeding (or part thereof) by the Covered Person was authorized in the specific
case by the board of directors of the Corporation.
(ii) The Corporation shall to the fullest
extent not prohibited by applicable law pay the expenses (including attorneys’ fees) incurred by a Covered Person in defending any
proceeding in advance of its final disposition; provided, however, that, to the extent required by law, such payment of expenses in advance
of the final disposition of the proceeding shall be made only upon receipt of an undertaking by the Covered Person to repay all amounts
advanced if it should be ultimately determined that the Covered Person is not entitled to be indemnified under this Article or otherwise.
(iii) If a claim for indemnification under
this Article (following the final disposition of such proceeding) is not paid in full within sixty days after the Corporation has
received a claim therefor by the Covered Person, or if a claim for any advancement of expenses under this Article is not paid in
full within thirty days after the Corporation has received a statement or statements requesting such amounts to be advanced, the Covered
Person shall thereupon (but not before) be entitled to file suit to recover the unpaid amount of such claim. If successful in whole or
in part, the Covered Person shall be entitled to be paid the expense of prosecuting such claim to the fullest extent permitted by law.
In any such action, the Corporation shall have the burden of proving that the Covered Person is not entitled to the requested indemnification
or advancement of expenses under applicable law.
(iv) The rights conferred on any Covered
Person by this Article shall not be exclusive of any other rights which such Covered Person may have or hereafter acquire under any
statute, provision of the certificate of incorporation, the Corporation’s by-laws, agreement, vote of stockholders or disinterested
directors or otherwise.
(v) The Corporation’s obligation, if
any, to indemnify or to advance expenses to any Covered Person who was or is serving at its request as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust, enterprise, nonprofit entity or other entity shall be reduced by any
amount such Covered Person may collect as indemnification or advancement of expenses from such other corporation, partnership, joint venture,
trust, enterprise, non-profit entity or other entity.
(vi) Any repeal or modification of the provisions
of this Article shall not adversely affect any right or protection hereunder of any Covered Person in respect of any proceeding (regardless
of when such proceeding is first threatened, commenced or completed) arising out of, or related to, any act or omission occurring prior
to the time of such repeal or modification.
(vii) This Article shall not limit the
right of the Corporation, to the extent and in the manner permitted by law, to indemnify and to advance expenses to persons other than
Covered Persons when and as authorized by appropriate corporate action.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Item 9. Undertakings.
(a) The
undersigned Registrant hereby undertakes:
(1) To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
| (i) | to include any prospectus required by Section 10(a)(3) of the Securities Act; |
| (ii) | to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth
in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum offering price set forth in the “Calculation
of Registration Fee” table in the effective Registration Statement; and, |
| (iii) | to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement
or any material change to such information in this Registration Statement; |
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do
not apply if the information required to be included in post-effective amendment by those paragraphs is contained in periodic reports
filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act
that are incorporated by reference in this Registration Statement.
(2) That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.
(3) To remove from registration by means
of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4) That, for the purpose of determining
liability of a Registrant under the Securities Act to any purchaser in the initial distribution of the securities, each undersigned Registrant
undertakes that in a primary offering of securities of an undersigned Registrant pursuant to this registration statement, regardless of
the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means
of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or
sell such securities to such purchaser:
| (i) | any preliminary prospectus or prospectus of an undersigned Registrant relating to the offering required to be filed pursuant to Rule 424; |
| (ii) | any free writing prospectus relating to the offering prepared by or on behalf of an undersigned Registrant or used or referred to
by an undersigned Registrant; |
| (iii) | the portion of any other free writing prospectus relating to the offering containing material information about an undersigned Registrant
or its securities provided by or on behalf of an undersigned Registrant; and |
| (iv) | any other communication that is an offer in the offering made by an undersigned Registrant to the purchaser. |
(b) The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the
Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated
by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of
the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City
of New York, State of New York, on June 30, 2023.
| |
TRINITY PLACE HOLDINGS INC.
|
| |
By: |
/s/ Matthew Messinger |
| |
|
Matthew Messinger
President and Chief Executive Officer |
KNOW ALL MEN BY THESE PRESENTS, that each person
whose signature appears below constitutes and appoints Matthew Messinger, Steven Kahn and Richard Pyontek, and each of them, his/her true
and lawful attorneys-in-fact and agents with full power of substitution and re-substitution, for him/her and in his/her name, place and
stead, in any and all capacities to sign any or all amendments (including, without limitation, post-effective amendments) to this Registration
Statement, any related Registration Statement filed pursuant to Rule 462 under the Securities Act of 1933 and any or all pre- or
post-effective amendments thereto, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with
the Securities and Exchange Commission, granting unto said attorney-in-fact and agent, full power and authority to do and perform each
and every act and thing requisite and necessary to be done in and about the premises, as fully for all intents and purposes as he or she
might or could do in person, hereby ratifying and confirming that said attorney-in-fact and agent, or any substitute or substitutes for
him, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities
Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.
|
Signature |
|
Title |
|
Date |
| |
|
|
|
|
| /s/ Matthew Messinger |
|
President and Chief Executive Officer and Director |
|
June 30, 2023 |
| Matthew Messinger |
|
(Principal Executive Officer) |
|
|
| |
|
|
|
|
| /s/ Steven Kahn |
|
Chief Financial Officer |
|
June 30, 2023 |
| Steven Kahn |
|
(Principal Financial Officer) |
|
|
| |
|
|
|
|
| /s/ Richard G. Pyontek |
|
Chief Accounting Officer, Treasurer and Secretary |
|
June 30, 2023 |
| Richard G. Pyontek |
|
(Principal Accounting Officer) |
|
|
| |
|
|
|
|
| /s/ Alexander Matina |
|
Director (Chairman of the Board) |
|
June 30, 2023 |
| Alexander Matina |
|
|
|
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| |
|
|
|
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| /s/ Alan Cohen |
|
Director |
|
June 30, 2023 |
| Alan Cohen |
|
|
|
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| |
|
|
|
|
| /s/ Joanne Minieri |
|
Director |
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June 30, 2023 |
| Joanne Minieri |
|
|
|
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| |
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|
|
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| /s/ Keith Pattiz |
|
Director |
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June 30, 2023 |
| Keith Pattiz |
|
|
|
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| |
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|
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| /s/ Jeffrey Citrin |
|
Director |
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June 30, 2023 |
| Jeffrey Citrin |
|
|
|
|
|
/s/ Patrick J. Bartels, Jr. |
|
Director |
|
June 30, 2023 |
| Patrick J. Bartels, Jr. |
|
Exhibit 5.1
June 30, 2023
|
Trinity Place Holdings Inc.
340 Madison Ave, Suite 3C
New York, New York 10173 |
Dear Ladies and Gentlemen:
We have acted as counsel to Trinity Place Holdings
Inc., a Delaware corporation (the “Registrant”), in connection with the preparation and filing of a Registration Statement
on Form S-8 (the “Registration Statement”) with the Securities and Exchange Commission (the “Commission”),
with respect to the registration under the Securities Act of 1933, as amended (the “Act”), of an aggregate of 2,000,000 shares
(the “Shares”) of common stock, par value $0.01 per share, of the Registrant, which may be issued pursuant to the Trinity
Place Holdings Inc. 2015 Stock Incentive Plan (as amended, effective April 27, 2023) (the “Amended and Restated Plan”).
In rendering this opinion, we have examined copies
of the following documents (collectively, the “Transaction Documents”):
| 1. | the Registration Statement; |
| 2. | the Amended and Restated Plan; |
| 3. | the Amended and Restated Certificate of Incorporation of the Registrant; |
| 4. | the Bylaws of the Registrant; and |
| 5. | the resolutions of the Compensation Committee and Board of Directors of the Registrant relating to the approval of the Amended and
Restated Plan. |
We have also reviewed such other documents and
made such other investigations as we have deemed appropriate. As to various questions of fact material to this opinion, we have relied
upon the representations and warranties of the Registrant contained in the Transaction Documents and upon the statements, representations
and certificates of officers or representatives of the Registrant, public officials and others. We have not independently verified the
facts so relied on.
Based on the foregoing, and subject to the qualifications,
limitations and assumptions set forth herein, we are of the opinion that the Shares have been duly authorized and, upon the issuance thereof
and payment therefor in accordance with the terms stated in the Amended and Restated Plan or in the award agreements entered into pursuant
thereto, will be validly issued, fully paid and non-assessable.
We express no opinion with respect to the laws
of any jurisdiction other than the federal securities laws of the United States and the Delaware General Corporation Law. This opinion
is rendered only with respect to the laws and legal interpretations and the facts and circumstances in effect on the date hereof.
We hereby consent to the use of this opinion as
an exhibit to the Registration Statement. In giving the foregoing consent, we do not thereby admit that we are in the category of persons
whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.
Very truly yours,
/s/ Kramer Levin Naftalis & Frankel LLP
KRAMER LEVIN NAFTALIS & FRANKEL LLP
Exhibit 23.2
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM
Trinity Place Holdings Inc.
New York, New York
We hereby consent to the incorporation by reference
in this Registration Statement of our report dated March 31, 2023, relating to the consolidated financial statements and schedule
of Trinity Place Holdings Inc. (the “Company”) appearing in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2022. Our report contains an explanatory paragraph regarding the Company’s ability to continue as a going
concern.
/s/ BDO USA, LLP
New York, New York
June 30, 2023
Exhibit 107.1
Calculation of Filing Fee Tables
Form S-8
(Form Type)
Trinity Place Holdings Inc.
(Exact Name of Registrant as Specified in its
Charter)
Table 1 – Newly Registered Securities
Security
Type |
Security
Class
Title |
Fee
Calculation
Rule |
Amount
Registered (1) |
Proposed
Maximum
Offering
Price Per
Unit |
Maximum
Aggregate
Offering
Price |
Fee
Rate |
Amount of
Registration
Fee |
| Equity |
Common Stock,
par value $.01 per share |
Other |
2,000,000 |
$0.52005 (2) |
$1,040,100 |
$110.20 per $1,000,000 |
$114.62 |
| Total Offering Amounts |
|
$1,040,100 |
|
$114.62 |
| Total Fee Offsets |
|
|
|
$0 |
| Net Fee Due |
|
|
|
$114.62 |
|
(1) |
Amount represents 2,000,000 additional shares of common stock,
par value $0.01 per share (the “Common Stock”) of Trinity Place Holdings Inc., a Delaware corporation, reserved and available
for delivery with respect to awards under the Trinity Place Holdings Inc. 2015 Stock Incentive Plan, as amended (the “Plan”).
Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement
shall also cover any additional shares of Common Stock that become issuable under the Plan by reason of any stock dividend, stock split,
recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding shares
of Common Stock. |
| (2) |
Estimated, in accordance with
Rule 457(c) of the Securities Act, solely for the purpose of calculating the registration fee. The proposed maximum
offering price per share is based on the average of the high and low prices reported by the NYSE American on June 26, 2023 which is
within five (5) business days prior to the date of this Registration Statement. |
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