Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 307

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 8
Chunk 307
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John V. Winfield, InterGroup’s Chairman, President and Chief Executive Officer, beneficially owned approximately 2.5% of Portsmouth’s
common stock.

Other
directorships. Director William J. Nance has served as a director and Audit Committee Chair of Comstock Mining, Inc. since 2005. The
Company had no transactions with Comstock Mining, Inc. during the periods presented.

Related-party
review policy. InterGroup maintains a written related-party transactions policy requiring the Audit Committee (or the independent directors)
to review and approve any transaction in which the Company or its subsidiaries are a participant, a “related person” (as
defined in Item 404 of Regulation S-K) has a direct or indirect material interest, and the amount involved exceeds $120,000. In evaluating
such matters, the Audit Committee considers whether the terms are fair and reasonable to InterGroup and comparable to those that could
be obtained in arm’s-length dealings. The Audit Committee and Board reviewed and approved the InterGroup–Portsmouth loan
amendments described above in accordance with this policy.

Except
as described herein and in Note 16, there were no related-party transactions during fiscal 2025 requiring disclosure under Item 404(a)
of Regulation S-K.

As
Chairman of the Executive Strategic Real Estate and Securities Investment Committee, the President and Chief Executive Officer (CEO),
John V. Winfield, directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board
of Directors. Mr. Winfield also serves as Chairman and Chief Executive Officer of Portsmouth and oversees the investment activity of
Portsmouth. Effective June 2016, Mr. Winfield became the Managing Director of Justice and served in that position until the dissolution
of Justice in December 2021. Depending on certain market conditions and various risk factors, the Chief Executive Officer and Portsmouth
may, at times, invest in the same companies in which the Company invests. Such investments align the interests of the Company with the
interests of related parties because it places the personal resources of the Chief Executive Officer and the resources of Portsmouth,
at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company. These
activities are overseen pursuant to Board-delegated authority and applicable policies.

Director
Independence

InterGroup’s
common stock is listed on the NASDAQ Capital Market. InterGroup is a Smaller Reporting Company under the rules and regulations of the
SEC.