Company: SLND-WT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001558370-25-005565
Chunk: 29

Company: Southland Holdings, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 29
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 of March 15, 2027. The 2024 Frank Renda Note accrued interest at a rate of 7% per annum. Interest under the 2024 Frank Renda Note was due and payable monthly. There were no installment payments of principal due under the 2024 Frank Renda Note prior to maturity. In December 2024, the Company exchanged the outstanding balance of the promissory note and accrued interest thereupon due to Mr. Renda in exchange for shares of common stock. Mr. Renda serves as President and Chief Executive Officer and as a director of the Company. Mr. Renda is also the beneficial owner of more than 5% of the issued and outstanding shares of common stock of the Company.

On November 30, 2016, Southland issued a promissory note for the principal amount of $2.8 million to Rudy V. Renda (the “2016 Rudy Renda Note”). The 2016 Rudy Renda Note was issued by Southland in connection with Southland’s acquisition of Mr. Renda’s ownership interests in Oscar Renda Contracting, Inc., and it is secured by a security interest in such ownership interests. The 2016 Rudy Renda Note accrued interest at a rate of 1.29% per annum, which is due and payable annually as it accrues. In December 2024, the Company exchanged the remaining balance of the promissory note and accrued interest thereupon due to Mr. Renda in exchange for shares of common stock. Mr. Renda serves as Co-Chief Operating Officer and Executive Vice President of the Company. Mr. Renda is also the beneficial owner of more than 5% of the issued and outstanding shares of common stock of the Company.

On November 30, 2018, Southland issued an unsecured promissory note for the principal amount of $1.2 million to Rudy V. Renda (the “2018 Rudy Renda Note”). The 2018 Rudy Renda Note accrued interest at a rate per annum equal to the long-term applicable federal rate with a monthly compounding period, as published by the Internal Revenue Service from time to time, or, if greater, the minimum rate of interest necessary under applicable law to avoid the existence of a taxable benefit to Mr. Renda in respect of the amount of interest payable thereunder. Interest under the 2018 Rudy Renda Note is due and payable annually on December 31st of each year as it accrues