---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-010539"
form_type: "8-K"
ticker: "RENX"
cik: "0001959023"
company_name: "RenX Enterprises Corp."
filed_at: "2024-02-06T23:59:59+00:00"
generated_at: "2026-06-06T08:36:40.111982+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Safe and Green Development sells St Mary's site for $1.35M; CEO/CFO pay raises, RSU vesting accelerated

## Summary
- Agreement to sell ~29-acre manufacturing-zoned St Mary's, GA property to Pigmental Studios for $1.35M ($900K cash, $450K note at 10% interest).
- CEO David Villarreal salary raised to $450K, CFO Nicolai Brune to $302K effective Nov 1, 2023.
- All 216,668 RSUs for CEO and 66,668 RSUs for CFO accelerated; each gets 3-week cash bonus.
- Sale expected to close on or about April 1, 2024; proceeds to strengthen balance sheet.
- Company remains active in St Mary's region via Cumberland Inlet Project investment.

## SEC filing metadata
- accession: 0001213900-24-010539
- form_type: 8-K
- ticker: RENX
- cik: 0001959023
- company_name: RenX Enterprises Corp.
- filed_at: 2024-02-06T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1959023/000121390024010539/0001213900-24-010539-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1959023/000121390024010539/ea192933-8k_safeandgreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-010539
- JSON: https://secwatch.observer/filing/0001213900-24-010539.json
- Plain text: https://secwatch.observer/filing/0001213900-24-010539.txt

## Key facts
- Material Agreements
  RenX Enterprises Corp. entered into Agreement of Sale with Pigmental, LLC valued at $1.35 million (effective 2024-01-31).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Pigmental, LLC
  - Value: $1.35 million
  - Effective: 2024-01-31
  source text: On January 31, 2024, Safe and Green Development Corporation (the “Company”) entered into an Agreement of Sale (the “Agreement of Sale”) with Pigmental, LLC, a Delaware limited liability company (“Pigmental Studios”), to sell approximately 27 acres of land zoned for a manufacturing facility in St. Mary’s, Georgia (the “St Mary’s Industrial Site”) owned by the Company to Pigmental Studios for $1.35 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1959023/000121390024010539/0001213900-24-010539-index.htm

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