---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-070374"
form_type: "8-K"
ticker: "GSIT"
cik: "0001126741"
company_name: "GSI TECHNOLOGY INC"
filed_at: "2024-06-11T23:59:59+00:00"
generated_at: "2026-06-01T04:58:55.811098+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# GSI Technology completes $11.65M sale-leaseback of Sunnyvale HQ; director not to stand for reelection

## Summary
- Sale of 1213 Elko Drive property for $11.65M cash, closed June 6, 2024.
- Simultaneously entered 10-year lease with affiliate DRSIP/ELKO LLC; initial monthly rent ~$90,768, 3% annual escalator.
- Lease includes two 5-year renewal options and a purchase option.
- Director Barbara Nelson will not stand for reelection at 2024 annual meeting; no disagreement cited.
- Tenant responsible for operating expenses, maintenance, insurance, property taxes, and utilities.

## SEC filing metadata
- accession: 0001104659-24-070374
- form_type: 8-K
- ticker: GSIT
- cik: 0001126741
- company_name: GSI TECHNOLOGY INC
- filed_at: 2024-06-11T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1126741/000110465924070374/0001104659-24-070374-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1126741/000110465924070374/tm2416903d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-070374
- JSON: https://secwatch.observer/filing/0001104659-24-070374.json
- Plain text: https://secwatch.observer/filing/0001104659-24-070374.txt

## Key facts
- Executive change
  Barbara Nelson departed as Director at GSI TECHNOLOGY INC.
  - Action: not stand for reelection
  - Role: Director
  source text: On June 9, 2024, Barbara Nelson, a member of the Board of Directors of the Company (the “Board”), the Chair of the Nominating and Governance Committee of the Board and a member of the Audit Committee of the Board, notified the Company of her decision not to stand for reelection when her current term expires at the Company’s 2024 Annual Meeting of Stockholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126741/000110465924070374/0001104659-24-070374-index.htm
- M&A Transactions
  GSI TECHNOLOGY INC completed a disposition involving D.R. Stephens & Company, LLC for $11.65 million cash (closed 2024-06-06).
  - Action: disposition
  - Counterparty: D.R. Stephens & Company, LLC
  - Consideration: $11.65 million cash
  - Closing: 2024-06-06
  source text: of the Company’s 1213 Elko Drive property in Sunnyvale, California (the “Sunnyvale Property”). Pursuant to the Purchase Agreement, the Company sold the Sunnyvale Property for $11.65 million cash. The foregoing descriptions are not intended to be complete descriptions of the Purchase Agreement or the transactions contemplated therein and are qualified in their
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126741/000110465924070374/0001104659-24-070374-index.htm

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