Trinity Place Holdings INC

Market Movers (8-K)

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Trinity Place Holdings enters into a stock purchase agreement with Steel IP Investments, LLC, an affiliate of Steel Partners Holdings L.P., for the sale of common stock and strategic alignment.
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Trinity Place Holdings Inc. has received notice of delisting from the NYSE American due to its low stock price and will begin trading on the OTC Pink Market.
Worse than expected
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Trinity Place Holdings Inc. shareholders approved an amendment to the 2015 Stock Incentive Plan, increasing the available shares by 2,000,000, at the 2024 Annual Meeting.
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Trinity Place Holdings has appointed Daniel C. Bartok as a new director, while Patrick J. Bartels, Jr. has resigned from the board, effective immediately.
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Trinity Place Holdings has secured an extension to August 1, 2024, for the deadline to complete the delisting of its common stock from the NYSE American.
Delay expected
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Trinity Place Holdings has amended its CEO's employment agreement, established a consulting agreement with him post-employment, and seen the resignation of a board member.

Quarterly Earnings (10-Q)

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Trinity Place Holdings reports its Q3 2024 results, highlighting a significant restructuring that shifted real estate assets to a joint venture, while the company focuses on its tax loss carryforwards and intellectual property.
Worse than expected
Delay expected
Capital raise
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Trinity Place Holdings reports a net income of $7.1 million for the six months ended June 30, 2024, a significant turnaround from a $17.2 million loss in the same period last year, primarily due to a gain on contribution to a joint venture.
Better than expected
Capital raise
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Trinity Place Holdings reports a net income of $8.1 million for Q1 2024, driven by a gain on contribution to a joint venture, following a significant recapitalization.
Better than expected
Delay expected
Capital raise

Annual Reports (10-K)

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Trinity Place Holdings' 10-K filing highlights a year of strategic shifts, including a recapitalization transaction and a focus on intellectual property assets, alongside the financial results for the year ended December 31, 2024.
Delay expected
Worse than expected
Capital raise
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Trinity Place Holdings has filed an amendment to its annual report on Form 10-K, primarily to disclose information regarding directors, executive officers, and corporate governance that was not included in the original filing.
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TPHGreenwich Holdings LLC amends its operating agreement, transferring a 5% interest to TPHS Investor LLC and securing new financing while Trinity Place Holdings Inc. retains a 95% stake.
Capital raise

Insider Trading (Form 4)

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MFP Partners LP, a significant shareholder of Trinity Place Holdings Inc., disposed of 300,000 shares of common stock at a price of $0.05 per share on February 6, 2025.
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Davidson Kempner Capital Management LP, through its affiliate TPHS Lender LLC, has agreed to sell 25,862,245 shares of Trinity Place Holdings Inc. (TPHS) common stock to Steel IP Investments, LLC for $2,586,200.
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Chief Financial Officer of Trinity Place Holdings, Steven Kahn, reports the vesting and settlement of restricted stock units, resulting in changes in his beneficial ownership of company stock.
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Richard Pyontek, Chief Accounting Officer of Trinity Place Holdings Inc., reports the vesting and settlement of restricted stock units.
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Director Keith M. Pattiz reports a notable change in beneficial ownership of Trinity Place Holdings Inc. shares, involving the acquisition and disposal of common stock on September 17, 2024.
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Director Joanne Minieri reports acquiring 40,728 shares of Trinity Place Holdings Inc. common stock on September 17, 2024.

Proxy Statements (Def-14A)

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Trinity Place Holdings Inc. will hold its annual meeting on July 24, 2024, and is soliciting stockholder votes on key proposals, including the election of a director, ratification of the auditor, executive compensation, and an amendment to the stock incentive plan.
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Trinity Place Holdings Inc. is holding its annual meeting on July 24, 2024, to elect directors, ratify the appointment of its accounting firm, approve executive compensation, and amend its stock incentive plan.
Worse than expected

Schedule 13D - Activist Investments

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Steel Partners Holdings, through its affiliates, has acquired a 40% beneficial ownership in Trinity Place Holdings Inc., gaining significant board representation and providing a new $5 million secured promissory note.
Capital raise
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TPHS Lender LLC, an affiliate of Davidson Kempner Capital Management LP, has agreed to sell its entire stake in Trinity Place Holdings Inc. to Steel IP Investments, LLC, alongside significant restructuring of the Issuer's joint venture interests.

Schedule 13G - Passive Investments

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MFP Partners, L.P., along with MFP Investors LLC and Jennifer Cook Price, has disclosed a 12.6% beneficial ownership stake in Trinity Place Holdings Inc., holding 8,232,617 shares of common stock.