Medalist Diversified REIT, Inc.
Extract: Charter Amendment (Plain English Desc) from a 8-K on 07/02/2024   Download
SEC Document
SEC Filing

Also on July 2, 2024, and immediately following the Reverse Stock Split, the Company completed the previously announced forward stock split of shares of the Company’s Common Stock, and a corresponding adjustment to the outstanding common units of the Operating Partnership, at a ratio of 5-for-1 (the “Forward Stock Split” and, together with the Reverse Stock Split, the “Stock Splits”). The Forward Stock Split took effect at 5:01 p.m. Eastern Time on July 2, 2024 (the “Forward Split Effective Time”) and automatically converted every one share of Common Stock outstanding at that time into five  shares of Common Stock.

The Forward Stock Split affected all holders of Common Stock uniformly and did not affect any common stockholder’s percentage ownership interest in the Company.

Holders of Common Stock were not required to take any action as a result of the Forward Stock Split. Their accounts were automatically adjusted to reflect the number of shares owned.

As a net result of the Stock Splits, the number of shares of Common Stock outstanding was decreased from 2,236,631 shares to approximately 1,118,315 shares as of the Effective Time.

At the Reverse Split Effective Time and the Forward Split Effective Time, the aggregate number of shares of Common Stock available for awards under the Company’s 2018 Equity Incentive Plan and the terms of outstanding awards were ratably adjusted to reflect the Reverse Stock Split and the Forward Stock Split, respectively.