Company: SQFTP
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001641172-25-005264
Chunk: 69

Company: Presidio Property Trust, Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 69
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 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. Following stockholder approval as set forth herein, the Plan shall be referred to as the “Second Amended and Restated Plan.”

Effective as of October 18, 2017, our Board established the Plan. On May 26, 2022, our stockholders approved an amendment to the Plan to increase the number of shares available for issuance thereunder to 2,500,000 from 1,100,000 shares of common stock. On June 1, 2023, our stockholders approved amending and restating the Plan to (i) increase the number of shares authorized for issuance under the Plan from 2,500,000 shares of common stock to 3,500,000 shares and (ii) add an 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 3,500,000 is less than 15% of the Company’s then-outstanding shares of common stock. As of March 31, 2025, an aggregate of 3,500,000 shares of common stock were reserved for issuance under the Plan and 3,287,293 shares of common stock were subject to outstanding awards under the Plan and 212,707 shares of common stock were available for future awards under the Plan. The Board believes than an increase in the number of authorized shares is necessary for us to continue to incentivize our officers, directors, consultants and others, allowing us to attract, retain and motivate the individuals critical to the Company’s success in achieving its business objectives and thereby creating greater value for all our stockholders.

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On April 8, 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