Power REIT adds Brent Morrison as independent trustee
Power REIT has appointed Brent Morrison as an independent trustee, effective July 6, 2026.
Rhea-AI Filing Summary
Power REIT has appointed Brent Morrison as an independent trustee, effective July 6, 2026. He will serve on the Board of Trustees until the next annual shareholder meeting and until a successor is elected, or earlier resignation or removal under the trust’s governing documents.
Morrison is Chairman, Chief Executive Officer and President of Regional Health Properties, Inc., a publicly traded healthcare company, and brings experience in public company governance, capital markets, financial reporting, strategic planning and corporate finance. The Board determined he meets NYSE American independence requirements, will receive standard non-employee trustee compensation, and has no related-party arrangements or transactions requiring disclosure.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Appointment date: July 6, 2026
Series A preferred liquidation preference: $25 per share
2 metrics
Appointment date
July 6, 2026
Effective date of Brent Morrison’s service as trustee
Series A preferred liquidation preference
$25 per share
7.75% Series A Cumulative Redeemable Perpetual Preferred Stock
Key Terms
independent trustee, Emerging growth company, NYSE American LLC Company Guide, Item 404(a) of Regulation S-K, +1 more
5 terms
independent trustee financial
"appointed Brent Morrison to serve as an independent trustee of the Trust"
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
NYSE American LLC Company Guide regulatory
"The Board has determined that Mr. Morrison satisfies the applicable independence requirements of the NYSE American LLC Company Guide."
The NYSE American LLC Company Guide is the rulebook that sets the financial, reporting and governance standards companies must meet to list and remain on the NYSE American stock market. Think of it as a set of marketplace rules and quality checks — covering things like required financial results, public disclosures and board practices — that help investors assess whether a listed company meets basic transparency and stability expectations.
Item 404(a) of Regulation S-K regulatory
"There are no transactions involving Mr. Morrison that would require disclosure under Item 404(a) of Regulation S-K."
Cumulative Redeemable Perpetual Preferred Stock financial
"7.75% Series A Cumulative Redeemable Perpetual Preferred Stock, Liquidation Preference $25 per Share"
A cumulative redeemable perpetual preferred stock is a type of ownership share that pays fixed dividends forever unless the company stops them, and any missed dividends accumulate and must be paid later. It can be redeemed (bought back) by the issuer at specified times or prices, so it behaves partly like a long-term loan; investors care because it sits ahead of common shares for payments and can affect a company’s cash needs and perceived credit risk.
FAQ
What did Power REIT (PW) announce in this 8-K filing?
Power REIT announced the appointment of Brent Morrison as an independent trustee, effective July 6, 2026. He joins the Board of Trustees and will serve until the next annual shareholder meeting, bringing extensive public company leadership and governance experience to the real estate investment trust.
Who is Brent Morrison, newly appointed to Power REIT (PW)’s board?
Brent Morrison is Chairman, Chief Executive Officer and President of Regional Health Properties, Inc., a publicly traded healthcare company. He has significant experience leading small capitalization public companies, including governance, capital markets transactions, financial reporting, strategic planning and corporate finance, which Power REIT’s Board views as valuable.
Is Brent Morrison considered independent under NYSE American rules at Power REIT (PW)?
Yes. Power REIT’s Board determined that Brent Morrison satisfies the applicable independence requirements of the NYSE American LLC Company Guide. This means he qualifies as an independent trustee, which can strengthen board oversight and align with exchange governance standards for listed companies like Power REIT.
How long will Brent Morrison serve as a trustee of Power REIT (PW)?
Brent Morrison will serve as a trustee until Power REIT’s next annual meeting of shareholders and until his successor is duly elected and qualifies. His term can also end earlier if he resigns, retires or is removed under the trust’s governing documents.
What compensation will Brent Morrison receive from Power REIT (PW)?
Brent Morrison will receive Power REIT’s standard compensation for non-employee trustees, as approved by the Board from time to time. The filing does not detail specific amounts, but indicates he will be paid on the same basis as other non-employee members of the board.
AI-generated analysis. How Rhea-AI works. Not financial advice.
