Company: SQFTP
Filing Date: 2025-08-14
Form Type: S-11
Source: 0001493152-25-011985
Chunk: 63

Company: Presidio Property Trust, Inc.
Filing Date: 2025-08-14
Form: S-11
Chunk 63
---
 Officers

Maryland law permits us to include a provision in our charter limiting the liability of our directors and officers to us and our stockholders for money damages, except for liability resulting from (a) actual receipt of an improper benefit or profit in money, property or services or (b) active and deliberate dishonesty that is established by a final judgment and which is material to the cause of action. Our charter contains a provision that eliminates our directors’ and officers’ liability to the maximum extent permitted by Maryland law.

The MGCL requires us (unless our charter provides otherwise, which our charter does not) to indemnify a director or officer who has been successful, on the merits or otherwise, in the defense of any proceeding to which he or she is made a party by reason of his or her service in that capacity. The MGCL permits us to indemnify our present and former directors and officers, among others, against judgments, penalties, fines, settlements and reasonable expenses actually incurred by them in connection with any proceeding to which they may be made or threatened to be made a party by reason of their service in those or certain other capacities unless it is established that:

| ● | the act or omission of                                                                                                             
 the director or officer was material to the matter giving rise to the proceeding and (a) was committed in bad faith or (b) was the 
 result of active and deliberate dishonesty;                                                                                        |
| ● | the director or officer                                                                                                            
 actually received an improper personal benefit in money, property or services; or                                                  |
| ● | in the case of any criminal                                                                                                        
 proceeding, the director or officer had reasonable cause to believe that the act or omission was unlawful.                         |

Under the MGCL, we may not indemnify a director or officer in a suit by us or in our right in which the director or officer was adjudged liable to us or in a suit in which the director or officer was adjudged liable on the basis that personal benefit was improperly received. A court may order indemnification if it determines that the director or officer is fairly and reasonably entitled to indemnification, even though the director or officer did not meet the prescribed standard of conduct or was adjudged liable on the basis that personal benefit was improperly received. However, indemnification for an adverse judgment in a suit by us or in our right, or for a judgment of liability on the basis that personal benefit was improperly received, is limited to expenses.

| 43 |

In addition, the MGCL permits us to advance reasonable expenses to a director or