Gyrodyne LLC Reaches Agreement with <a href="https://laohu8.com/S/STRR">Star Equity</a> Fund, Board Size Reduced and Director Fees Capped Amid Shareholder Activism
Gyrodyne, LLC announced it has reached an agreement with Star Equity Fund, LP following shareholder activism ahead of its 2025 annual shareholders meeting. As part of the agreement, Star Equity Fund has withdrawn its slate of nominees for the board, while Gyrodyne will reduce the size of its board from five to four directors, freeze director compensation, and limit the aggregate fee paid to the Chairman to $65,000. In connection with the board size reduction, Richard Smith will be the sole nominee standing for election at the meeting. The agreement includes customary standstill provisions and reflects ongoing engagement between Gyrodyne and its shareholders. Nader Salour, Chairman of Gyrodyne's Nominating Committee, expressed gratitude to Paul Lamb for his 28 years of service, noting that he will not stand for re-election but will remain a significant shareholder. Jeff Eberwein, manager of Star Equity Fund, stated that the collaborative discussions with the Board have enhanced governance and alignment with shareholder interests. The full agreement will be filed with the Securities and Exchange Commission.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Gyrodyne LLC published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9547788-en) on October 17, 2025, and is solely responsible for the information contained therein.
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