Company: SQFTP
Filing Date: 2025-10-28
Form Type: DRS
Source: 0001493152-25-019889
Chunk: 57

Company: Presidio Property Trust, Inc.
Filing Date: 2025-10-28
Form: DRS
Chunk 57
---
 ● | any                                                                                                            
 person who beneficially owns 10% or more of the voting power of the corporation’s outstanding voting stock; or |

A person is not an interested stockholder under the MGCL if the corporation’s Board of Directors approved in advance the transaction by which the person otherwise would have become an interested stockholder. In approving the transaction, the Board of Directors may provide that its approval is subject to compliance, at or after the time of approval, with any terms and conditions determined by the Board of Directors.

After the five-year prohibition, any business combination between the Maryland corporation and an interested stockholder generally must be recommended by the corporation’s Board of Directors and approved by the affirmative vote of at least:

| ● | 80%                                                                                                                                      
 of the votes entitled to be cast by holders of outstanding shares of voting stock of the corporation; and                                |
| ● | two-thirds                                                                                                                               
 of the votes entitled to be cast by holders of outstanding shares of voting stock of the corporation other than shares held by the       
 interested stockholder with whom or with whose affiliate the business combination is to be effected or held by an affiliate or associate 
 of the interested stockholder.                                                                                                           |

These super-majority vote requirements do not apply if the corporation’s common stockholders receive a minimum price, as defined under the MGCL, for their shares in the form of cash or other consideration in the same form as previously paid by the interested stockholder for its shares.

| 38 |

The MGCL permits various exemptions from its provisions, including business combinations that are exempted by the Board of Directors before the time that the interested stockholder becomes an interested stockholder. Pursuant to the statute, our Board of Directors has by resolution exempted business combinations between us and any other person, provided that the business combination is first approved by our Board of Directors (including a majority of our directors who are not affiliates or associates of such person). Consequently, the five-year prohibition and the supermajority vote requirements will not apply to a business combination between us and any other person if the Board of Directors has first approved the combination. As a result, any person described in the preceding sentence may be able to enter into business combinations with us that may not be in the best interests of our stockholders, without compliance with the supermajority vote requirements and other provisions of the statute. We cannot assure you that our Board of Directors will not amend or repeal this resolution in the future.

Control Share Acquisitions

The MGCL provides that a holder of control shares of