Company: SQFTP
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001641172-25-005264
Chunk: 73

Company: Presidio Property Trust, Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 73
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ia Realty Trust                   |     | Digital Realty Trust, Inc.       |     | Hudson Pacific Properties, Inc. |
| Alexandria Real Estate Equities, Inc. |     | Extra Space Storage Inc.         |     | UDR, Inc.                       |
| Arbor Realty Trust, Inc.              |     | Federal Realty Investment Trust  |     |                                 |
| COPT Defense Properties               |     | Franklin Street Properties Corp. |     |                                 |

The foregoing list includes industry-leading REITs. In competing for property acquisitions, the acquiror’s cost of capital is a critical element to success. As a result, we may be at a potential competitive disadvantage to other REITs due to our inability to issue shares of preferred stock as an additional financing tool to achieve the lowest possible overall cost of capital. Moreover, in order for the Company to maintain its qualification as a REIT under the Code, we must distribute annually at least 90% of our REIT taxable income. Therefore, the Company (like all REITs) must regularly access the capital markets to finance its growth since it is generally unable to do so by retaining earnings. As a result, due to the capital-intensive nature of the REIT industry, having the ability to issue new classes or series of stock is an important financing tool for many REITs.

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Terms

The Charter Amendment would grant the Board broad discretion with respect to designating the terms of each class and series of preferred stock prior to issuance. The following is a brief description of the terms, preferences, rights, limitations and restrictions that the Board will be entitled to designate with respect to any class or series preferred stock. The preferences and other terms of each class or series of preferred stock will be specified in the articles supplementary classifying and designating such class or series, which articles supplementary will be accepted for record by the SDAT prior to any issuance of the shares.

Number. The Company would be authorized to issue up to 2,000,000 shares of preferred stock.

Classes and Series. Shares of preferred stock may be issued in classes or series established from time to time by the Board. The Board may fix for each class or series: (i) the number of shares included in the class or series; (ii) the dividend rate(s), period(s) and payment date(s) or method(s) of calculation; (iii) the date from which dividends will accumulate, if applicable; (iv) the amount payable in the event of our liquidation; (