SCHEDULE: Neil Subin Cuts Gyrodyne Stake Below 5%

Neil S. Subin has reduced his beneficial ownership in Gyrodyne, LLC to 4.9%, triggering an exit filing with the SEC.

Summary

• Neil S. Subin's beneficial ownership in Gyrodyne, LLC has decreased to 107,188 Common Shares of Limited Liability Company Interests.
• This represents 4.9% of Gyrodyne, LLC's outstanding Common Shares.
• The percentage is based on 2,199,308 Common Shares outstanding, as reported in Gyrodyne, LLC's Quarterly Report on Form 10-Q filed with the SEC on May 5, 2025.
• Subin ceased to be a beneficial owner of more than five percent of Gyrodyne, LLC's Common Shares as of August 5, 2025.
• This Amendment No. 2 to Schedule 13G serves as an exit filing for Neil S. Subin.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of a change in beneficial ownership, which is a neutral event in itself. While a reduction in stake by a significant holder could be interpreted negatively by some, the filing provides no additional context to suggest a positive or negative sentiment from the company's perspective.

Future Outlook

No forward-looking statements or guidance are provided.

Management Comments

• Neil S. Subin certified that, to the best of his knowledge and belief, the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, and were not acquired or held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This filing is a routine disclosure of a change in beneficial ownership by a significant investor and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders may note the reduction in a significant investor's stake, which could influence market sentiment regarding the company's stock.

Key Dates

Recommendation

The filing indicates a reduction in a significant shareholder's stake below the 5% threshold, which is a factual disclosure of a past event. While a reduction by a notable investor like Neil S. Subin could be interpreted as a slight negative signal, the filing itself does not provide sufficient new information regarding the company's fundamentals, financial performance, or strategic direction to warrant a strong buy or sell recommendation. Investors should monitor future filings and company performance for further insights.

Keywords

Gyrodyne LLC, Neil S. Subin, Beneficial Ownership, Schedule 13G, SEC Filing, Common Shares, Limited Liability Company Interests