Company: SACH
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-042273
Chunk: 19

Company: Sachem Capital Corp.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 19
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the state in which we are incorporated), NYSE American rules and listing standards, and SEC rules and regulations, as well as best practices suggested by recognized governance authorities. As our business continues to evolve to serve our customers, it is imperative that our Board evolves as well. To this end, we undertook a robust Board succession planning and refreshment process, which was informed by feedback from our annual Board evaluation and discussions with our shareholders and our 11 Nominating and Corporate Governance Committee. As a result of this process, the Board appointed Jeffery Walraven in August 2024. Mr. Walraven is an experienced corporate leader with a passion for excellence. The Board is confident that his extensive experience with public real estate companies and his capital markets, accounting, and finance experience will be a strategic asset to our Board. In December 2024, Mr. Walraven was appointed as our Interim Chief Financial Officer upon the resignation of our then Chief Financial Officer, while the Board conducts a formal search process to identify and appoint a permanent Chief Financial Officer. In accordance with Section 803A(2)(a) of the NYSE Rules, the employment of a director as an executive officer on an interim basis will not disqualify that director from being considered independent following such employment, provided the interim employment did not last longer than one year. However, a director would not be considered independent while serving as an interim officer. The Board expects to identify and appoint a permanent Chief Financial Officer within a year and, at such time, Mr. Walraven will regain the qualification to serve as an independent director on the Board under NYSE Rules. As such, if reelected, Mr. Walraven is expected to be the fourth independent director on the Board upon the appointment of a permanent Chief Financial Officer. The Company’s slate of director nominees for election at the Annual Meeting includes Mr. Walraven, along with our other current Board directors John L. Villano, Leslie Bernhard, Arthur L. Goldberg and Brian A. Prinz. The Board’s Oversight of Risk Management The Board recognizes that all companies face a variety of risks, including credit risk, liquidity risk, strategic risk, and operational risk. The Board believes an effective risk management system will (1) timely identify the material risks that we face, (2) communicate necessary information with respect to material risks to senior executives and, as appropriate, to the Board or relevant Board committee, (3) implement appropriate and responsive risk management strategies consistent with our risk profile,