---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-23-008490"
form_type: "8-K"
ticker: null
cik: "0001695963"
company_name: "Korth Direct Mortgage Inc."
filed_at: "2023-06-14T23:59:59+00:00"
generated_at: "2026-06-14T01:20:21.725689+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Korth Direct Mortgage CEO buys 45.8% stake from chairman for $3.3M via note

## Summary
- CEO Holly MacDonald-Korth bought 1,100,000 shares at $3.00 each ($3.3M total) from Chairman James W. Korth.
- Purchase price is a 5% ten-year interest-only note secured by a pledge of the shares.
- Post-transaction, MacDonald-Korth owns 45.8% of the company's common stock, becoming its largest shareholder.

## SEC filing metadata
- accession: 0001214659-23-008490
- form_type: 8-K
- cik: 0001695963
- company_name: Korth Direct Mortgage Inc.
- filed_at: 2023-06-14T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 5.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1695963/000121465923008490/0001214659-23-008490-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1695963/000121465923008490/p6142308k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-23-008490
- JSON: https://secwatch.observer/filing/0001214659-23-008490.json
- Plain text: https://secwatch.observer/filing/0001214659-23-008490.txt

## Key facts
- M&A Transactions
  Korth Direct Mortgage Inc. underwent a change of control involving James W. Korth for $3.00 per share, or an aggregate of $3,300,000 (closed 2023-06-09).
  - Action: change of control
  - Counterparty: James W. Korth
  - Consideration: $3.00 per share, or an aggregate of $3,300,000
  - Closing: 2023-06-09
  source text: On June 9, 2023, Holly MacDonald-Korth, Chief Executive Officer of Korth Direct Mortgage Inc. (the “Company”), purchased 1,100,000 shares of the common stock of the Company (the “Shares”) at a price of $3.00 per share, or an aggregate of $3,300,000 (the “Purchase Price”), from James W. Korth, the Company’s Chairman and former Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1695963/000121465923008490/0001214659-23-008490-index.htm

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