Company: SQFTP
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001641172-25-019665
Chunk: 59

Company: Presidio Property Trust, Inc.
Filing Date: 2025-07-15
Form: 424B5
Chunk 59
---
 The fair value of the shares as determined for purposes of appraisal rights may not be less than the highest price per share paid by the acquirer in the control share acquisition.

The control share acquisition statute does not apply (a) to shares acquired in a merger, consolidation or share exchange if the corporation is a party to the transaction or (b) to acquisitions approved or exempted by the charter or bylaws of the corporation.

Our bylaws contain a provision exempting from the control share acquisition statute any acquisition by any person of shares of our stock.

Subtitle 8

Subtitle 8 of Title 3 of the MGCL permits a Maryland corporation with a class of equity securities registered under the Exchange Act and at least three independent directors to elect, by provision in its charter or bylaws or a resolution of its Board of Directors and notwithstanding any contrary provision in the charter or bylaws, to be subject to any or all of five provisions, including:

| ● | a                                                                                                
 classified Board of Directors;                                                                   |
| ● | a                                                                                                
 two-thirds vote requirement for removing a director;                                             |
| ● | a                                                                                                
 requirement that the number of directors be fixed only by vote of the Board of Directors;        |
| ● | a                                                                                                
 requirement that a vacancy on the Board of Directors be filled only by a vote of the remaining   
 directors in office and for the remainder of the full term of the class of directors in which    
 the vacancy occurred and until a successor is elected and qualifies; and                         |
| ● | a                                                                                                
 majority requirement for the calling of a stockholder-requested special meeting of stockholders. |

In accordance with Maryland law, the Company filed Articles Supplementary effecting the Company’s election to be subject to the classified board provisions of Section 3-803 of the MGCL with the State Department of Assessments and Taxation of Maryland on March 18, 2024. Through provisions in our charter and bylaws unrelated to Subtitle 8, we (1) vest in our Board of Directors the exclusive power to fix the number of directors and (2) require, unless called by our Chairman, our Chief Executive Officer, our President or our Board of Directors, the request of stockholders entitled to cast not less than a majority of all the votes entitled to be cast at the meeting to call a special meeting of stockholders.

Special Meetings of Stockholders

Pursuant to our bylaws, our Chairman, our Chief Executive Officer, our President or our Board of Directors may call a special meeting of our