Company: SACH
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-042273
Chunk: 24

Company: Sachem Capital Corp.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 24
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4 Annual Meeting of Shareholders. (2) In 2024, no stock awards were issued to the non-employee directors. (3) Mr. Walraven was appointed to the Board on August 21, 2024. From August 21, 2024, through December 12, 2024, Mr. Walraven earned $42,500 in director compensation. Effective as of December 13, 2024, Mr. Walraven was appointed as our Interim Chief Financial Officer. In connection with his appointment, Mr. Walraven is compensated at the rate of $62,500 per month. Mr. Walraven’s appointment is on a month-to-month basis and can be terminated by either party as of the end of any calendar month at any time by giving notice to the other no later than the 15th day of that month. For the period from December 13, 2024 through December 31, 2024, Mr. Walraven earned $31,250 as our Interim Chief Financial Officer. Mr. Walraven continues to be a member of the Board, but did not receive any compensation for his Board service after he was appointed as our Interim Chief Financial Officer effective December 13, 2024. Mr. Walraven has resigned from the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board upon his appointment as our Interim Chief Financial Officer. Executive Compensation For our fiscal year 2024, we qualified as a “smaller reporting company” under Item 10 of Regulation S-K promulgated under the Exchange Act, and as a result, we have elected to comply with certain scaled disclosure requirements applicable to smaller reporting companies with respect to certain portions of the executive compensation disclosure in this Proxy Statement. Our Compensation Committee is responsible for the executive compensation programs for our executive officers and reports to our Board on its discussions, decisions and other actions. Typically, our Chief Executive Officer makes recommendations to our Compensation Committee, often attends meetings and is involved in the determination of compensation for the respective executive officers who report to him, except that our Chief Executive Officer does not make recommendations as to his own compensation. Our Compensation Committee reviews the Chief Executive Officer’s recommendations and relevant market data regarding executive compensation. Our Compensation Committee then makes recommendations to our Board regarding executive compensation without members of management present. Our Compensation Committee is authorized to retain the services of one or more executive compensation advisors, as it sees fit, in connection with the establishment of