---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-123618"
form_type: "8-K"
ticker: "TPTA"
cik: "0001674356"
company_name: "Terra Property Trust, Inc."
filed_at: "2023-12-05T23:59:59+00:00"
generated_at: "2026-06-07T18:05:11.418627+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Terra Property Trust stockholders approve charter amendments enabling early Class B conversion and NASAA provisions

## Summary
- Stockholders voted 20,034,169.6 for vs 34,264 against; 82.5% quorum; approval of Second Articles.
- Amendments allow Board to convert Class B Common Stock to Class A upon direct listing (Early Conversion).
- Automatic conversion: 50% after 365 days, remainder after 545 days from Early Conversion.
- Springing NASAA provisions trigger only if non-traded REIT IPO occurs; include independent director majority, leverage cap of 300% of net assets, and related-party transaction rules.
- New tender offer provisions require SEC rule compliance for mini-tender offers; stockholders have rescission rights for non-compliant offers.

## SEC filing metadata
- accession: 0001104659-23-123618
- form_type: 8-K
- ticker: TPTA
- cik: 0001674356
- company_name: Terra Property Trust, Inc.
- filed_at: 2023-12-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 3.03, 5.03, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1674356/000110465923123618/0001104659-23-123618-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1674356/000110465923123618/tm2332022d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-123618
- JSON: https://secwatch.observer/filing/0001104659-23-123618.json
- Plain text: https://secwatch.observer/filing/0001104659-23-123618.txt

## Key facts
- Governance Changes
  Terra Property Trust, Inc.: Filed Second Articles of Amendment and Restatement to permit earlier conversion of Class B Common Stock into Class A Common Stock upon a direct listing and to include springing provisions required by NASAA REIT Guidelines (effective 2023-12-01).
  - Change: charter amendment
  - Effective: 2023-12-01
  source text: On December 1, 2023, Terra Property Trust, Inc., a Maryland corporation (the “Company”), filed the Second Articles of Amendment and Restatement of the Company (the “Second Articles”) with the State Department of Assessments and Taxation of Maryland (“SDAT”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674356/000110465923123618/0001104659-23-123618-index.htm
- Shareholder Votes
  Terra Property Trust, Inc. shareholders approved Approve the Second Articles of Amendment at the 2023-11-30 meeting.
  - Proposal: charter amendment
  - Outcome: passed
  - Meeting: 2023-11-30
  source text: Stockholders representing 20,094,102.6 shares, or 82.5%, of the 24,335,711 outstanding shares of Class B Common Stock were present in person or by proxy, constituting a quorum under applicable law. A summary of voting results with respect to the proposal is set forth below. Proposal 1. The Company’s stockholders voted on a proposal to approve the Second Articles. The votes with respect to the proposal to approve the Second Articles were as follows: Total Votes For Total Votes Against Abstentions Broker Non-Votes 20,034,169.6 34,264 25,669 0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674356/000110465923123618/0001104659-23-123618-index.htm

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