Company: SQFTP
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001641172-25-005264
Chunk: 45

Company: Presidio Property Trust, Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 45
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 reason, he will be entitled to (a) the Hightower Accrued Obligations, (b) a cash payment equal to the sum of his base salary for the year in which the termination date occurs (or if greater, the year immediately preceding the year in which the termination date occurs), (c) a cash payment equal to the mean average of the cash bonus payments received by him during the immediately preceding two years, (d) for the period beginning on the date of termination and ending 12 months following such date, or earlier upon certain circumstances, healthcare benefits for himself and eligible dependents, (e) to the extent previously unpaid or provided, any vested benefits and other amounts or benefits required to be paid or provided under any plan or policy of the Company (excluding equity incentive plans) and (f) on the termination date 100% of outstanding unvested stock options, restricted stock and other equity awards granted to Mr. Hightower under any of the Company’s equity incentive plans (other than performance-based vesting awards) shall become immediately vested and exercisable in full.

Mr. Hightower currently serves on the Board. The Hightower Employment Agreement provides that the Company, subject to certain exceptions, shall use its best efforts to cause Mr. Hightower to be nominated and elected to the Board, and that Mr. Hightower, if so nominated and elected, shall agree to serve on the Board.

| 32 |

Outstanding Equity Awards at Fiscal Year End

The following table shows information regarding restricted stock awards held by our named executive officers on the last day of our fiscal year ended December 31, 2024.

| Name             
 Jack K. Heilbron |     | Stock      
 Awards     
 Grant Date |            |    |     | Number of Shares                  
 or Units that have not Vested (3) |         |     | Market Value                                
 of Shares or Units that have not Vested (4) |         |     | Equity Incentive                                                                   
 Plan Awards: Number of Unearned Shares, Units or other Rights that have not Vested | — |     | Equity Incentive                                                                                   
 Plan Awards: Market or Payout Value of Unearned Shares, Units or other Rights that have not Vested | — |
|:-----------------|:----|:-----------|:-----------|---:|:----|:----------------------------------|--------:|:----|:--------------------------------------------|--------:|:----|:-----------------------------------------------------------------------------------|:--|:----|