Form 4: Broad Street Realty Director Acquires Shares in Lieu of Cash Retainer

Samuel M. Spiritos, a director of Broad Street Realty, acquired 38,393 shares of common stock in lieu of a cash retainer on July 1, 2024.

Summary

• On July 1, 2024, Samuel M. Spiritos, a director of Broad Street Realty, Inc., acquired 38,393 shares of common stock.
• The shares were issued under the company's Amended and Restated 2020 Equity Incentive Plan in lieu of his cash retainer.
• Following the transaction, Spiritos directly owns 487,953 shares of Broad Street Realty, Inc.
• Spiritos also indirectly owns 13,827 shares through SR BSV Spotswood LLC, where he is the manager.
• He disclaims beneficial ownership of these indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a standard compensation practice. The director taking shares in lieu of cash is a moderately positive sign.

Positives

• The director's acquisition of shares demonstrates confidence in the company.
• Using equity in lieu of cash preserves the company's cash reserves.

Industry Context

Directors often receive equity compensation as part of their overall remuneration package, aligning their interests with those of shareholders. This is a common practice in the real estate industry.

Stakeholder Impact

• Shareholders may view the director's acquisition of shares positively, as it aligns his interests with theirs.
• The company benefits from preserving cash by issuing equity instead of paying a cash retainer.

Key Dates

Keywords

Broad Street Realty, Director, Samuel Spiritos, Share Acquisition, Equity Incentive Plan, Common Stock, Form 4