Company: SQFTP
Filing Date: 2025-04-07
Form Type: PRE 14A
Source: 0001641172-25-003040
Chunk: 71

Company: Presidio Property Trust, Inc.
Filing Date: 2025-04-07
Form: PRE 14A
Chunk 71
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2025, the Board unanimously approved amending and restating the Plan, subject to stockholder approval of Proposal 3 at the Annual Meeting, to (i) increase the number of shares available for issuance thereunder to 4,500,000 from 3,500,000 shares of common stock and (ii) revise the Plan’s evergreen provision to, on April 1 stand October 1 stof each year, automatically increase the maximum number of shares of common stock available under the Plan to 15% of the Company’s outstanding shares of common stock, if on such date 4,500,000 shares constitute less than 15% of the Company’s then-outstanding shares of common stock.

The Board has directed that the proposal to amend and restate the Plan be submitted to the stockholders for their consideration and approval at the 2025 Annual Meeting.

Reasons to Approve the Second Amended and Restated Plan

The Board believes that our interests and the interests of our stockholders will be advanced if we can continue to offer our employees, advisors, consultants, and non-employee directors the opportunity to acquire or increase their proprietary interests in the Company. The Board has concluded that our ability to attract, retain, and motivate top-quality talent is material to our success and would be enhanced by our continued ability to grant equity compensation under the Plan. Accordingly, the Board has determined that the number of shares available for issuance under the Plan should be increased so that we may continue our compensation structure and strategy.

If our stockholders do not approve amending and restating the Plan at the Annual Meeting, the number of shares of common stock authorized for issuance under the Plan will remain at 3,500,000 shares and the Plan’s evergreen provision shall remain unchanged, and provide for, on April 1 stand October 1 stof each year, an automatic increase in the maximum number of shares of common stock available under the Plan to 15% of the Company’s outstanding shares of common stock, if on such date 3,500,000 is less than 15% of the Company’s then-outstanding shares of common stock. In addition, any equity awards granted under the Plan subject to stockholder approval of Proposal 3 will be rendered null and void, which will have an adverse effect on our ability to retain and motivate top-quality employees, directors, and management.

Summary of the Second Amended and Restated Plan

The terms of the Second Amended and Restated Plan shall be identical to the terms of