New SGD Director Takes Major Stake Through Investment Firms

Rhea-AI Filing Summary

Bjarne Erik Siwert Borg has filed an initial Form 3 statement declaring beneficial ownership of securities in Safe and Green Development Corporation (SGD) as of June 17, 2025. Borg serves as a Director of the company.

The filing reveals beneficial ownership of:

• 122,030 shares of Common Stock held indirectly through Index Equity US LLC (121,992 shares) and Index Resource Equity LLC (38 shares)
• 485,766 shares of Series A Convertible Preferred Stock held indirectly through the same entities (485,616 and 150 shares respectively)

Borg serves as manager of Index Equity US LLC and Index Management Services LLC (which manages Index Resource Equity LLC). The filing includes a disclaimer of beneficial ownership except for his pecuniary interest in these securities. A Power of Attorney was executed by Nicolai Brune as Attorney-in-Fact on June 27, 2025.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Borg Bjarne Erik Siwert

Role Director

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--
holding	Series A Convertible Preferred Stock	--	--	--

Holdings After Transaction: Common Stock — 122,030 shares (Indirect, By Index Equity US LLC and Index Resource Equity LLC); Series A Convertible Preferred Stock — 485,766 shares (Indirect, By Index Equity US LLC and Index Resource Equity LLC)

Footnotes (1)

1. Total includes 121,992 shares of common stock held by Index Equity US LLC ("IEU") and 38 shares of common stock held by Index Resource Equity LLC ("IRE"). The reporting person is the manager of IEU and the manager of Index Management Services LLC, which is the manager of IRE. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. Total includes 485,616 shares of Series A Convertible Preferred Stock held by IEU and 150 shares of Series A Convertible Preferred Stock held by IRE.

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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1. Name and Address of Reporting Person^*

Borg Bjarne Erik Siwert

(Last) (First) (Middle)

C/O SAFE AND GREEN DEVELOPMENT CORP,

100 BISCAYNE BLVD., #1201

(Street)

MIAMI FL 33132

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/17/2025

3. Issuer Name and Ticker or Trading Symbol
Safe & Green Development Corp [ SGD ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	122,030(1)	I	By Index Equity US LLC and Index Resource Equity LLC(2)
Series A Convertible Preferred Stock	485,766(3)	I	By Index Equity US LLC and Index Resource Equity LLC(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Total includes 121,992 shares of common stock held by Index Equity US LLC ("IEU") and 38 shares of common stock held by Index Resource Equity LLC ("IRE"). The reporting person is the manager of IEU and the manager of Index Management Services LLC, which is the manager of IRE.

2. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

3. Total includes 485,616 shares of Series A Convertible Preferred Stock held by IEU and 150 shares of Series A Convertible Preferred Stock held by IRE.

Remarks:

Exhibit List - Exhibit 24.1: Power of Attorney

	/s/ Nicolai Brune, Attorney-in-Fact	06/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many shares of SGD common stock does Bjarne Erik Siwert Borg own?

According to the Form 3 filing, Bjarne Erik Siwert Borg indirectly owns 122,030 shares of SGD common stock through Index Equity US LLC (121,992 shares) and Index Resource Equity LLC (38 shares), where he serves as a manager.

What position does Bjarne Borg hold at Safe & Green Development Corp (SGD)?

According to the Form 3 filing dated June 28, 2025, Bjarne Borg serves as a Director of Safe & Green Development Corp (SGD). This is indicated by the 'X' marked in the Director box under Section 4 of the filing.

How many shares of SGD Series A Convertible Preferred Stock does Bjarne Borg control?

Bjarne Borg indirectly controls 485,766 shares of SGD Series A Convertible Preferred Stock, with 485,616 shares held by Index Equity US LLC and 150 shares held by Index Resource Equity LLC.

When did Bjarne Borg's ownership reporting requirement for SGD begin?

The event requiring the Form 3 statement occurred on June 17, 2025, which typically indicates when Bjarne Borg became an insider (Director) at Safe & Green Development Corp, triggering the SEC reporting requirement.

Through which entities does Bjarne Borg hold his SGD shares?

Bjarne Borg holds his SGD shares indirectly through two entities: Index Equity US LLC (IEU) and Index Resource Equity LLC (IRE). He serves as the manager of IEU and is the manager of Index Management Services LLC, which manages IRE.