Gyrodyne to end COO Peter Pitsiokos's employment effective October 2, 2026
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.
Key points
- 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
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 07, 2026.
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