secwatch.observer — SEC 8-K summary
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Issuer:     TRANSCONTINENTAL REALTY INVESTORS INC (TCI)
CIK:        0000733590
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0000733590-24-000009
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TCI amends advisory agreement with Pillar, consolidating fees into single NAV fee plus reimbursements
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- Amended agreement effective Jan 1, 2024 consolidates prior fees into a single "Net Asset Value Fee" plus specified allocated reimbursements.
- Gross Asset Fee set at 0.75% per annum (0.0625% monthly) on average Gross Asset Value; Net Income Fee of 7.5% per annum of Adjusted Net Income.
- All duties and responsibilities of Pillar and the Company remain unchanged from the original April 30, 2011 advisory agreement.
- Agreement continues until next Annual Meeting; renewable annually subject to approval by a majority of independent directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/733590/000073359024000009/0000733590-24-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/733590/000073359024000009/tci-20240507.htm
  HTML page:      https://secwatch.observer/filing/0000733590-24-000009

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