Power REIT: ~12% preferred votes may be shared on limited matters
The reported voting power concerns Series A preferred stock; separately listed common shares are a different security and are not covered.
Sentiment and the balance of points
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Rhea-AI Filing Summary
Power REIT’s Series A preferred-stock ownership disclosure states that Bradley & Daytona Railway and Land Co. LLC, Alexander Kachmar, the D & C Cacciapaglia Living Trust, the David Cacciapaglia Family Trust, and David Cacciapaglia may be deemed to share voting power over 40,595 shares, approximately 12.0% of the class. The percentage uses 336,944 shares outstanding as of June 30, 2026. The stated beneficial ownership relates solely to voting rights concerning the Series A preferred stock and matters arising under Section 8 of the Articles Supplementary; shared voting power is limited to matters described in Amendment No. 4. Bradley & Daytona and Alexander Kachmar directly beneficially own 28,692 preferred shares. The two trusts together beneficially own 11,903 preferred shares, which David Cacciapaglia indirectly beneficially owns through them. Each reporting person retains sole dispositive power over shares beneficially owned by that person. The disclosure separately lists 7,298 common shares held by Bradley & Daytona and Alexander Kachmar, and 8,000 common shares held by the D & C trust; common stock is not the subject of this disclosure.
Filing Explained
This amendment adds the filers’ claim that Power REIT, its CEO, corporate secretary and board have not called a contractually required meeting to elect nominees Alexander Kachmar and David Cacciapaglia, whose election rights they say vested after dividend arrearages; the process remains at the meeting-call stage.
Key Figures
Key Terms
Liquidation Preference financial
beneficially own regulatory
sole dispositive power regulatory
Articles Supplementary regulatory
FAQ
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What voting and disposition powers do Power REIT reporting persons have?
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