−Removed: Market for Registrant ’
−Removed: s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
+Added: Market for Registrant ’ s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market information
−Removed: The Company’s common shares began trading on the Nasdaq Capital Market under the symbol “GYRO”
−Removed: beginning September 1, 2015.
−Removed: Prior to the Merger, the Corporation’s common shares (symbol:
+Added: The Company’s common shares began trading on the Nasdaq Capital Market under the symbol “GYRO” beginning September 1, 2015.
+Added: Prior to the Merger, the Corporation’s common shares (symbol:
"GYRO") were traded in the Nasdaq Capital Market, the principal market from June 10, 1948.
The Company believes it is currently in compliance with all of its Nasdaq listing requirements.
−Removed: See, “Risk Factors -- If our common shares are delisted from Nasdaq, shareholders may find it difficult to dispose of their shares ”.
+Added: See, “Ris–Factors -- If our common shares are delisted from Nasdaq, shareholders may find it difficult to dispose of their shares ”.
Approximate number of equity security holders of record (not including beneficial owners holding shares in street name).
−Removed: Title of Class
Number of Holders of Record
−Removed: as of February 28, 2023
+Added: Title of Class
+Added: as of March 15, 2024
Common shares of limited liability interests
−Removed:      
−Removed: Gyrodyne’s corporate strategy is to enhance the value of Flowerfield and Cortlandt Manor by pursuing entitlement opportunities to provide purchasers increased development flexibility, and by enhancing the value of our leases.
+Added: Gyrodyne’s corporate strategy is to enhance the value of Flowerfield and Cortlandt Manor by pursuing entitlement opportunities to provide purchasers increased development flexibility, and by enhancing the value of our leases.
The value of the real estate reported in the Statement of Net Assets as of December 31, 2023, includes some but not all of the potential value impact that may result, if any, from such value enhancement efforts.
3 unchanged sentences
The magnitude and timing of any special distributions will depend on our actual cash flow, proceeds generated from strategic sales of properties, our financial condition, capital requirements and such other factors as the Company deems relevant.
−Removed: The actual cash flow available to pay special distributions will depend on a number of factors including, among others, the factors discussed under “Management’s Discussion and Analysis of Financial Condition and Results of Operations”
−Removed: in Part II, Item 7 of this Annual Report.
−Removed: The Company does not have an equity compensation plan for its employees, officers or directors.
+Added: The actual cash flow available to pay special distributions will depend on a number of factors including, among others, the factors discussed under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of this Annual Report.
+Added: The Company does not have an equity compensation plan for its employees or officers but does have a restricted stock compensation plan for its directors effective November 14, 2023.
+Added: On March 12, 2024, the Company issued 625,000 Common Shares in connection with the Company’s rights offering which closed March 7, 2024, at a subscription price of $8.00 per share, generating gross proceeds of approximately $5.0 million and net proceeds of approximately $4.4 million.
Sale of Unregistered Securities
Equity Compensation Plan Information
−Removed: As of December 31, 2022, there were no equity compensation plans under which securities of the Company were authorized for issuance.
+Added: The Gyrodyne, LLC Restricted Stock Award Plan (the “Stock Plan”) was approved by the Board on September 5, 2023 and by the shareholders of the Company on October 12, 2023 and became effective on October 12, 2023.
+Added: Under the Stock Plan, the Company issued to the former director participants in the Retention Bonus Plan (the “Bonus Plan”), in exchange for the waiver and forfeiture of their Bonus Plan benefits, an aggregate of 91,628 Gyrodyne shares, subject to vesting, effective November 14, 2023 ( See Restricted Stock Plan Under the 2023 Transactions above).
Issuer Purchases of Equity Securities
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.