Form 8-K - Current report
September 22 2023 - 4:15PM
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UNITED
STATES
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): September 22, 2023
Presidio
Property Trust, Inc.
(Exact
name of registrant as specified in its charter)
Maryland |
|
001-34049 |
|
33-0841255 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
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. |
Resignation
of Principal Accounting Officer
On
September 22, 2023, Adam Sragovicz notified Presidio Property Trust, Inc. (the “Company”) of his resignation as Chief Financial
Officer, effective immediately. Mr. Sragovicz’s departure is not related to the Company’s financial or operating results
or to any disagreements with the Company regarding the Company’s financial, operational, accounting or reporting policies or practices.
As previously disclosed, Mr. Sragovicz had notified the Company of his intent to resign as Chief Financial Officer upon the consummation
of the business combination of Murphy Canyon Acquisition Corp. (the “SPAC”) with Conduit Pharmaceuticals Limited, which business
combination occurred on September 22, 2023. The Company had served as the sponsor of the SPAC and owned approximately 65% of the SPAC’s
outstanding common stock prior to the consummation of the business combination.
Appointment
of Principal Accounting Officer
Effective
September 22, 2023, the Company appointed Mr. Edwin H. Bentzen IV, age 47, to serve as its Chief Financial Officer. Mr. Bentzen has
served as the Chief Accounting Officer since March 2021. Prior to joining the Company, Mr. Bentzen served as Chief Financial Officer
and Chief Operations Officer for Crystal View Capital Management, LLC in 2020 and as a Chief Financial Officer / Finance consultant
for various clients (including real estate development companies) from 2018 to 2020. Prior to these roles, Mr. Bentzen held officer
and/or senior accounting roles at various companies in Las Vegas, Nevada. He holds a Bachelor of Science degree in Hotel
Administration, with an emphasis in Gaming, and a Master of Science degree in Accountancy, from University of Nevada, Las Vegas, and
is licensed as a Certified Internal Auditor (inactive). Mr. Bentzen’s annual base salary is $207,900, and he is eligible for
benefits customarily available to the Company’s employees, including an award of restricted stock under the Company’s
2017 Incentive Award Plan.
There
are no arrangements or understandings between Mr. Bentzen and any other person pursuant to which he was appointed to serve as an officer
of the Company. There are also no family relationships between Mr. Bentzen and any director or executive officer of the Company, and
Mr. Bentzen does not have a direct or indirect material interest in any “related party” transaction required to be disclosed
pursuant to Item 404(a) of Regulation S-K.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date:
September 22, 2023 |
PRESIDIO
PROPERTY TRUST, INC. |
|
|
|
By: |
/s/
Jack Heilbron |
|
Name: |
Jack
Heilbron |
|
Title: |
Chief
Executive Officer |
v3.23.3
Cover
|
Sep. 22, 2023 |
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Sep. 22, 2023
|
Entity File Number |
001-34049
|
Entity Registrant Name |
Presidio
Property Trust, Inc.
|
Entity Central Index Key |
0001080657
|
Entity Tax Identification Number |
33-0841255
|
Entity Incorporation, State or Country Code |
MD
|
Entity Address, Address Line One |
4995
Murphy Canyon Road
|
Entity Address, Address Line Two |
Suite 300
|
Entity Address, City or Town |
San
Diego
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
92123
|
City Area Code |
(760)
|
Local Phone Number |
471-8536
|
Written Communications |
false
|
Soliciting Material |
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|
Pre-commencement Tender Offer |
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|
Pre-commencement Issuer Tender Offer |
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|
Entity Emerging Growth Company |
false
|
Series A Common Stock, $0.01 par value per share |
|
Title of 12(b) Security |
Series
A Common Stock, $0.01 par value per share
|
Trading Symbol |
SQFT
|
Security Exchange Name |
NASDAQ
|
9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share |
|
Title of 12(b) Security |
9.375%
Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share
|
Trading Symbol |
SQFTP
|
Security Exchange Name |
NASDAQ
|
Series A Common Stock Purchase Warrants to Purchase Shares of Common Stock |
|
Title of 12(b) Security |
Series
A Common Stock Purchase Warrants to Purchase Shares of Common Stock
|
Trading Symbol |
SQFTW
|
Security Exchange Name |
NASDAQ
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