secwatch.observer — SEC 8-K summary
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Issuer:     Sotherly Hotels Inc. (SOHOO)
CIK:        0001301236
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0000950170-23-038499
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sotherly Hotels adopts clawback policy, lowers stockholder quorum to 33 1/3%
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- Adopted Executive Officer Incentive Compensation Recovery Policy effective Oct 2, 2023, requiring recoupment after accounting restatements.
- Policy applies to all current and former executive officers under Rule 16a-1(f); no-fault recoupment regardless of misconduct.
- Amended Bylaws to reduce stockholder meeting quorum from a majority to at least 33.33% of voting power.
- Clawback Policy covers incentive compensation based on financial reporting measures, stock price, or total shareholder return.
- Company will not indemnify or insure any executive against loss of erroneously awarded compensation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1301236/000095017023038499/0000950170-23-038499-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1301236/000095017023038499/soho-20230731.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-038499

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