Every material Form 8-K Gyrodyne, LLC has filed with the SEC since August 07, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Gyrodyne's CEO told shareholders at the November 5, 2026 annual meeting that the preliminary, unaudited net assets in liquidation estimate fell to approximately $10.75 per share as of September 30, 2026, from $12.30 at June 30, 2026. The decline reflects a shift from the B2K Flowerfield sale, which the company now believes may not close, to a potential sale of the same acreage to New York State, for which no definitive agreement exists.
Preliminary net assets in liquidation estimated at approximately $10.75 per share as of September 30, 2026, a decrease of $1.55 per share, or approximately $3.4 million in aggregate
Company is negotiating a potential sale of undeveloped Flowerfield acreage to New York State and a termination of the B2K agreement, but no definitive agreement has been reached with either party
Company believes there is a material risk the B2K transaction will not close by the end of 2028, if at all, due to an unresolved visual easement issue
Employee headcount reduced from four at the end of 2024 to one full-time employee as of October 2, 2026
Subsidiary GSD Cortlandt, LLC and Gyrodyne, as guarantor, entered into a letter agreement with SIG CRE 2023 Venture LLC to extend the maturity of a $4.95 million loan secured by GSD Cortlandt's property at 1985 Crompond Road, Cortlandt Manor, New York. The loan now matures October 10, 2031, with the interest rate reset to 7.28% per annum, and GSD Cortlandt made a $431,411.38 principal paydown as a condition of the extension. After the paydown and the scheduled payment, the outstanding principal balance is $4,041,482.21, and Gyrodyne reaffirmed its limited guaranty.
Maturity extended five years to October 10, 2031; agreement dated October 19, 2026, effective October 10, 2026
Interest rate reset to 7.28% per annum under the existing note terms
GSD Cortlandt paid a principal paydown of $431,411.38 as a condition of the extension
Outstanding principal balance after the paydown and scheduled payment: $4,041,482.21
Gyrodyne, LLC disclosed a Separation Agreement with Chief Operating Officer Peter Pitsiokos, ending his employment effective October 2, 2026. The company says the change leaves one full-time employee to handle entitlements, property sales and the liquidation, which it expects to finish by the end of 2028, and it estimates about $620,000 in savings over that period.
Termination effective October 2, 2026, under a Separation Agreement dated August 3, 2026 and executed August 7, 2026
Severance of $100,000, equal to six months, paid in a lump sum within three business days after the agreement and release take effect
Company expects about $620,000 in savings over the remaining liquidation timeline, with completion expected by the end of 2028
After the termination date, one full-time employee will remain to oversee the sale of remaining properties and the wind-up
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