UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Resignation of Principal Accounting Officer
On September 22, 2023, Adam Sragovicz notified Presidio Property Trust, Inc. (the “Company”) of his resignation as Chief Financial Officer, effective immediately. Mr. Sragovicz’s departure is not related to the Company’s financial or operating results or to any disagreements with the Company regarding the Company’s financial, operational, accounting or reporting policies or practices. As previously disclosed, Mr. Sragovicz had notified the Company of his intent to resign as Chief Financial Officer upon the consummation of the business combination of Murphy Canyon Acquisition Corp. (the “SPAC”) with Conduit Pharmaceuticals Limited, which business combination occurred on September 22, 2023. The Company had served as the sponsor of the SPAC and owned approximately 65% of the SPAC’s outstanding common stock prior to the consummation of the business combination.
Appointment of Principal Accounting Officer
Effective September 22, 2023, the Company appointed Mr. Edwin H. Bentzen IV, age 47, to serve as its Chief Financial Officer. Mr. Bentzen has served as the Chief Accounting Officer since March 2021. Prior to joining the Company, Mr. Bentzen served as Chief Financial Officer and Chief Operations Officer for Crystal View Capital Management, LLC in 2020 and as a Chief Financial Officer / Finance consultant for various clients (including real estate development companies) from 2018 to 2020. Prior to these roles, Mr. Bentzen held officer and/or senior accounting roles at various companies in Las Vegas, Nevada. He holds a Bachelor of Science degree in Hotel Administration, with an emphasis in Gaming, and a Master of Science degree in Accountancy, from University of Nevada, Las Vegas, and is licensed as a Certified Internal Auditor (inactive). Mr. Bentzen’s annual base salary is $207,900, and he is eligible for benefits customarily available to the Company’s employees, including an award of restricted stock under the Company’s 2017 Incentive Award Plan.
There are no arrangements or understandings between Mr. Bentzen and any other person pursuant to which he was appointed to serve as an officer of the Company. There are also no family relationships between Mr. Bentzen and any director or executive officer of the Company, and Mr. Bentzen does not have a direct or indirect material interest in any “related party” transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: September 22, 2023 | PRESIDIO PROPERTY TRUST, INC. | |
| By: | /s/ Jack Heilbron | |
| Name: | Jack Heilbron | |
| Title: | Chief Executive Officer | |
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