Company: SQFTP
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001641172-25-005264
Chunk: 74

Company: Presidio Property Trust, Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 74
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v) the voting powers, if any; (vi) the terms, if any, on which the shares may be converted; (vii) the redemption price, if any, and other redemption terms; (viii) sinking fund provisions, if any, for the redemption of the shares; (ix) any limitation on the issuance of any class or series ranking senior to or on parity with such shares; and (x) other terms, rights, limitations and restrictions.

Rank. The Board will determine the ranking and preferences of each class or series of preferred stock with respect to dividend rights, voting rights and rights upon liquidation, dissolution or winding-up of our affairs relative to any of our other authorized shares. Such rights and preferences of a class or series of preferred stock may be senior to, on parity with or junior to our common stock or any other class or series of preferred stock.

Ownership and Transfer Restrictions. Our charter contains restrictions on the ownership and transfer of our shares for the purpose, among others, of preserving our qualification as a REIT under the Code. These limitations and restrictions will generally apply to any class or series of preferred stock, unless our Board determines that such restrictions do not apply.

Depositary Shares. In order to avoid depletion of the number of authorized preferred stock, we may elect to issue fractions of shares of preferred stock or depositary shares rather than full shares of preferred stock. Each depositary share would represent ownership of and entitlement to all preferences and other terms of a fraction of a share of preferred stock of a specified class or series (including dividend, voting, redemption and liquidation rights).

Declawed Preferred Stock

The Board is not aware of any current effort by any person to accumulate shares of stock of the Company or to obtain control of the Company, and the Charter Amendment is not designed to impede a change of control of the Company. Further, the Board has no current intention to adopt a stockholder rights plan (which, if adopted, could have an anti-takeover effect).

In connection with Proposal 4, the Board represents that it will not, without prior stockholder approval, issue or use the newly-authorized shares of preferred stock for any anti-takeover purpose or to implement any stockholder rights plan.

If Proposal 4 is approved by the Company’s stockholders, then the Company will file the Articles of Amendment containing the text of the Charter Amendment set forth in Appendix Bto this Proxy Statement for record with the State Department of Assessments and Taxation of Maryland, which we expect