---
schema_version: "secwatch.filing_event.v1"
accession: "0001102238-24-000010"
form_type: "8-K"
ticker: "ARL"
cik: "0001102238"
company_name: "AMERICAN REALTY INVESTORS INC"
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T16:01:07.283426+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "medium"
source: SEC EDGAR
---

# American Realty restructures advisory fees into Net Asset Value Fee plus reimbursements

## Summary
- New fee structure: Gross Asset Fee of 0.0625% per month (0.75% annual) of average Gross Asset Value.
- Net Income Fee of 7.5% per annum of Adjusted Net Income, paid quarterly after SEC filings.
- Agreement effective Jan 1, 2024, restates original 2011 agreement; no change in duties or responsibilities.
- Pillar continues as advisor; fees consolidated into single Net Asset Value Fee plus specified allocated reimbursements.
- Reimbursement includes pro-rata share of Advisor's personnel expenses and travel costs.

## SEC filing metadata
- accession: 0001102238-24-000010
- form_type: 8-K
- ticker: ARL
- cik: 0001102238
- company_name: AMERICAN REALTY INVESTORS INC
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: medium
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1102238/000110223824000010/0001102238-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1102238/000110223824000010/arl-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001102238-24-000010
- JSON: https://secwatch.observer/filing/0001102238-24-000010.json
- Plain text: https://secwatch.observer/filing/0001102238-24-000010.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.