[8-K] Safe & Green Development Corp Reports Material Event

Rhea-AI Filing Summary

Safe and Green Development Corporation (SGD) filed a Form 8-K reporting a material event consisting of an amendment to the Safe and Green Development 2023 Incentive Compensation Plan. The filing includes an Interactive Data File as Exhibit 104 (Inline XBRL). The Form 8-K was signed by Nicolai Brune, Chief Financial Officer, and is dated September 30, 2025. The cover page references Common Stock, par value $0.001 and lists The Nasdaq Stock Market LLC as the trading market.

Positive

• Amendment to the 2023 Incentive Compensation Plan was formally filed, indicating active governance attention to compensation
• Interactive XBRL Exhibit 104 was included, supporting machine-readable disclosure

Negative

• None.

Insights

Compensation & Governance Analyst

TL;DR: A formal amendment to the 2023 incentive plan was filed, signaling a change in executive/employee compensation framework.

The company disclosed an amendment to the Safe and Green Development 2023 Incentive Compensation Plan, which is a governance action that updates how incentive awards may be granted or administered. Such amendments commonly affect equity grant mechanics, vesting or eligible participants, and therefore can influence retention and dilution depending on the specifics.

Details about the amendment's substance (award size, vesting, eligibility, or dilution impact) are not stated in the available text; investors should review the full amendment language and any related exhibits for concrete metrics within the filing for near-term implications.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 29, 2025

SAFE AND GREEN DEVELOPMENT CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Delaware		001-41581		87-1375590
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification Number)

100 Biscayne Blvd., #1201

Miami, FL 33132

(Address of Principal Executive Offices, Zip Code)

Registrant’s telephone number, including area code: (904) 496-0027

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common Stock, par value $0.001		SGD		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 29, 2025, Safe and Green Development Corporation (the “Company”) held its 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”). At the 2025 Annual Meeting, the Company’s stockholders approved an amendment (the “Plan Increase Amendment”) to the Company’s 2023 Incentive Compensation Plan (the “2023 Plan”) to increase the number of shares of Common Stock available for awards under the 2023 Plan by 1,200,000 shares from 289,859 shares to 1,489,859 shares. A summary of the material terms of the 2023 Plan is incorporated herein by reference from pages 40-46 of the Company’s definitive proxy statement on Schedule 14A for the 2025 Annual Meeting, as filed with the Securities and Exchange Commission (the “SEC”) on September 9, 2025 (the “Proxy Statement”). The Plan Increase Amendment is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 5.07. Submission of Matters to a Vote of Security Holders.

At the 2025 Annual Meeting , the stockholders voted on seven proposals, each of which is listed below and described in more detail in the Company’s Proxy Statement. With respect to each proposal, holders of the Company’s Common Stock were entitled to cast one vote per share of Common Stock held as of the close of business on the record date of July 31, 2025 (the “Record Date”). On the record date there were 3,264,625 shares of the Company’s Common Stock issued and outstanding and entitled to vote at the 2025 Annual Meeting.

The following are the final results of voting on each of the proposals presented at the 2025 Annual Meeting:

Proposal 1 — Election of Directors Proposal

The stockholders elected each of Anthony M. Cialone, John Scott Magrane and David Villarreal to serve as a Class II director until the 2028 Annual Meeting of Stockholders, based on the votes below:

		For				Withheld				Broker Non-Votes
Anthony M. Cialone			869,096				191,657				53,796
John Scott Magrane			865,324				195,429				53,796
David Villarreal			869,448				191,305				53,796

Proposal 2 — Auditor Ratification Proposal

The stockholders ratified the appointment of M&K CPAS PLLC as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026, based on the votes below:

Votes For		Votes Against		Abstentions		Broker Non-Votes
955,297		4,018		155,234		—

Proposal 3 — Reverse Stock Split Proposal

The stockholders approved an amendment to the Amended and Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”) to, at the discretion of the Company’s Board of Directors (the “Board”), effect a reverse stock split with respect to the Company’s issued and outstanding Common Stock at a ratio of 1-for-5 to 1-for-20 (the “Range”), with the ratio within such Range to be determined at the discretion of the Board and included in a public announcement (the “Reverse Stock Split Proposal”), based on the votes listed below:

Votes For		Votes Against		Abstentions		Broker Non-Votes
903,053		56,316		155,180		—

Proposal 4 — Authorized Increase Proposal

The stockholders approved an amendment to the Company’s Certificate of Incorporation to increase the number of shares of Common Stock authorized for issuance under the Certificate of Incorporation from 100,000,000 shares to 500,000,000 shares (the “Authorized Increase Proposal”), based on the votes below:

For		Against		Abstain		Broker Non-Votes
910,004		49,364		155,181		—

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Proposal 5 – 2023 Plan Amendment Proposal

The stockholders approved the Amendment to the 2023 Plan to increase the number of shares of Common Stock available for awards under the 2023 Plan by 1,200,000 shares from 289,859 shares to 1,489,859 shares (the “2023 Plan Amendment Proposal”), based on the votes below:

For		Against		Abstain		Broker Non-Votes
865,399		40,472		154,882		53,796

Proposal 6 - Resource Group Proposal

The stockholders approved the issuance of an aggregate of 9,041,182 shares of Common Stock to the prior members of Resource Group US Holdings LLC (“Resource Group”), including up to 9,000,000 shares of Common Stock issuable upon the conversion of 1,500,000 shares of the Company’s Series A Convertible Preferred Stock issued to the members of Resource Group in connection with the closing of the acquisition of Resource Group, that may be equal to or exceed 20% of Common Stock outstanding before such issuance (the “Resource Group Proposal”), based on the votes below:

For		Against		Abstain		Broker Non-Votes
493,537*		34,965		155,523		53,796

* Excludes, pursuant to Nasdaq rule, the 376,728 shares of Common Stock issued to the prior members of Resource Group in connection with closing of the acquisition thereof on June 2, 2025.

Proposal 7 – Adjournment Proposal

The stockholders approved an adjournment of the 2025 Annual Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event there are not sufficient votes in favor of the Reverse Stock Split Proposal, the Authorized Increase Proposal, the 2023 Plan Amendment Proposal and/or the Resource Group Proposal, based on the votes listed below. However, such an adjournment was not necessary in light of the approval of the Reverse Stock Split Proposal, the Authorized Increase Proposal, the 2023 Plan Amendment Proposal and the Resource Group Proposal at the 2025 Annual Meeting.

For		Against		Abstain		Broker Non-Votes
898,123		59,428		156,998		—

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
10.1		Amendment to the Safe and Green Development 2023 Incentive Compensation Plan
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Safe and Green Development Corporation
Dated: September 30, 2025	By:	/s/ Nicolai Brune
	Name:	Nicolai Brune
	Title:	Chief Financial Officer

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FAQ

What did Safe and Green Development Corp (SGD) report in the Form 8-K?

The company reported an amendment to the Safe and Green Development 2023 Incentive Compensation Plan and included an Interactive Data File as Exhibit 104.

Who signed the Form 8-K for SGD?

The Form 8-K was signed by Nicolai Brune, Chief Financial Officer, dated September 30, 2025.

Does the filing state which market SGD common stock trades on?

Yes, the cover page references The Nasdaq Stock Market LLC as the trading market for SGD common stock.

Is there financial or earnings data included in this Form 8-K?

No. The provided content does not include earnings, revenue, or other financial statements.

Where can I find the exact changes to the incentive plan?

The precise amendment language and exhibits should be reviewed within the full Form 8-K filing and attached exhibits; the summary text does not disclose the amendment details.