Company: SLND-WT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001558370-25-005565
Chunk: 28

Company: Southland Holdings, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 28
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 million to Frank S. Renda (the “2016 Frank Renda Note”). The 2016 Frank 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 Frank Renda Note accrued interest at a rate of 1.29% per annum. 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 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, 2018, Southland issued an unsecured promissory note for the principal amount of $1.2 million to Frank S. Renda (the “2018 Frank Renda Note”). The 2018 Frank 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 Frank Renda Note is due and payable annually on December 31st of each year as it accrues. There are no installment payments of principal due under the 2018 Frank Renda Note prior to maturity, and the unpaid principal thereunder, together with outstanding accrued interest, shall become due and payable on November 30, 2023. In March 2024, the Company refinanced the 2018 Frank Renda Note and accrued interest thereupon due to Mr. Renda into the 2024 Frank Renda Note (defined below). 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 March 15, 2024, Southland issued an unsecured promissory note for the principal amount of $3.8 million to Frank S. Renda (the “2024 Frank Renda Note”) with a maturity date