Company: SACH
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-042273
Chunk: 29

Company: Sachem Capital Corp.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 29
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) an annual time-based equity award with a value of $125,000, payable in restricted Common Shares, commencing on January 1, 2025 and on January 1st of each year thereafter; (iii) an annual cash bonus of up to 50% of his base salary, with the exact amount determined by the Compensation Committee of the Board; and (iv) eligibility to participate in the Company’s health insurance plan and the perquisites and other fringe benefits in accordance with our prevailing policy. Mr. Marcello resigned from his position as our Chief Financial Officer on December 10, 2024. Letter Agreement with Jeffery C. Walraven In December 2024, Jeffery C. Walraven was appointed as our Interim Chief Financial Officer. In connection with his appointment, the Company and Mr. Walraven entered into a Letter Agreement, dated December 13, 2024, pursuant to which Mr. Walraven receives compensation at the rate of $62,500 per month. Mr. Walraven provides service on a month-to-month basis and can be terminated by either party as of the end of any calendar month at any time by written notice to the other party no later than the 15th day of that month. 17 Executive Compensation Elements The following describes the material terms of the elements of our executive compensation program during 2024. 2024 Base Salaries Base salaries for our Named Executive Officers are initially established through arm’s-length negotiations at the time of the executive officer’s hiring, taking into account such executive officer’s qualifications, experience, the scope of the executive officers’ responsibilities, and competitive market compensation paid by other companies for similar positions within the industry and geography. Annual base salaries are intended to provide a fixed component of compensation to our Named Executive Officers, reflecting their skill sets, experience, roles, and responsibilities. 2024 Bonuses For the year ended December 31, 2024, Mr. Villano was entitled to a “target bonus” of $375,000. On March 10, 2025, the Compensation Committee awarded Mr. Villano a bonus of $300,000 based on the Company’s performance for 2024, which was paid in one lump sum in 2025. Mr. Marcello received a one-time payment of $20,000 in connection with his appointment as the Chief Financial Officer. Equity Compensation We maintain the Sachem Capital Corp. 2016 Equity Compensation Plan, under which we may grant equity awards to