{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-082077","form_type":"8-K","ticker":"MDRR","cik":"0001654595","company_name":"Medalist Diversified, Inc.","filed_at":"2023-07-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.731086+00:00","generated_at":"2026-06-13T07:05:09.686915+00:00","sec_items":["1.01","1.02","5.02","7.01","8.01","9.01"],"event_type":"leadership","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Medalist Diversified REIT internalizes management; founders exit in $1.6M settlement","bullets":["Termination of external management agreement; $1,602,717 paid to settle all amounts.","William Elliott and Thomas Messier resign as directors and officers effective immediately.","Francis Kavanaugh appointed interim CEO and President; Timothy O'Brien named non-executive Chairman.","Colin Elliott, VP, also resigning; effective date and terms under negotiation.","Company expects streamlined operations, reduced costs, and increased agility post-internalization."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-082077","json":"https://secwatch.observer/filing/0001104659-23-082077.json","markdown":"https://secwatch.observer/filing/0001104659-23-082077.md","text":"https://secwatch.observer/filing/0001104659-23-082077.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1654595/000110465923082077/0001104659-23-082077-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1654595/000110465923082077/tm2321576d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T07:05:09.686915+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2bbaeaef0e","claim":"Colin M. Elliott resigned as Vice President at Medalist Diversified, Inc..","evidence_excerpt":"Colin M. Elliott, Vice President of the Company, notified the Company of his intent to resign as an employee of Gunston Consulting, LLC and consequently as Vice President of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1654595/000110465923082077/0001104659-23-082077-index.htm","confidence":0.9,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Vice President"}],"fact_type":"executive_change"},{"claim_id":"7a1859e317","claim":"William Elliott resigned as Chairman & Chief Executive Officer at Medalist Diversified, Inc..","evidence_excerpt":"each of Messrs. W. Elliott and Messier provided notice of their respective resignations as director, Chairman & Chief Executive Officer and director, Vice Chairman, President & Chief Operating Officer, effectively immediately upon the Internalization.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1654595/000110465923082077/0001104659-23-082077-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Chairman & Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"b836ba7e9d","claim":"Thomas Messier resigned as Vice Chairman, President & Chief Operating Officer at Medalist Diversified, Inc..","evidence_excerpt":"each of Messrs. W. Elliott and Messier provided notice of their respective resignations as director, Chairman & Chief Executive Officer and director, Vice Chairman, President & Chief Operating Officer, effectively immediately upon the Internalization.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1654595/000110465923082077/0001104659-23-082077-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Vice Chairman, President & Chief Operating Officer"}],"fact_type":"executive_change"},{"claim_id":"d3ffb37ff0","claim":"Francis P. Kavanaugh was appointed as interim Chief Executive Officer and President at Medalist Diversified, Inc..","evidence_excerpt":"Effective upon the Internalization, the Board appointed Francis P. Kavanaugh as the Company’s interim Chief Executive Officer and President.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1654595/000110465923082077/0001104659-23-082077-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"interim Chief Executive Officer and President"}],"fact_type":"executive_change"},{"claim_id":"2fe4667fc5f6f40f5375c0f6110aa364f75ea418","claim":"Medalist Diversified, Inc. terminated Termination Agreement with Medalist Diversified Holdings, L.P. valued at $1,602,717 (effective 2023-07-18).","evidence_excerpt":"On July 18, 2023, the Company and Medalist Diversified Holdings, L.P., a Delaware limited partnership (the “Operating Partnership”), entered into a Termination Agreement (the “Termination Agreement”) with the Manager, William R. Elliott and Thomas E. Messier, which provides for the immediate termination of the Management Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1654595/000110465923082077/0001104659-23-082077-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"settlement"},{"label":"Counterparty","value":"Medalist Diversified Holdings, L.P."},{"label":"Value","value":"$1,602,717"},{"label":"Effective","value":"2023-07-18"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}