---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-025610"
form_type: "8-K"
ticker: "GYRO"
cik: "0001589061"
company_name: "Gyrodyne, LLC"
filed_at: "2023-09-11T23:59:59+00:00"
generated_at: "2026-06-10T21:42:16.596214+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Gyrodyne amends bonus plan; directors waive cash for 91,628 shares

## Summary
- Director participants waive bonus plan benefits for 91,628 shares under new Stock Plan, subject to shareholder approval.
- Retired director forfeited benefits of $1,137,108 returned to company rather than reallocated.
- Employee bonus rate: 4.12% up to $50,985,000 net proceeds, 6.72% above; extra 1% if property sold by June 30, 2024.
- Benefits for employees delayed until shareholders receive liquidating distributions; early payment if bonus pool reaches $500,000.
- Price floor hurdle removed; director rate if stock plan not approved is 5.30% of net selling price.

## SEC filing metadata
- accession: 0001437749-23-025610
- form_type: 8-K
- ticker: GYRO
- cik: 0001589061
- company_name: Gyrodyne, LLC
- filed_at: 2023-09-11T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589061/000143774923025610/0001437749-23-025610-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589061/000143774923025610/gyrllc20230910_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-025610
- JSON: https://secwatch.observer/filing/0001437749-23-025610.json
- Plain text: https://secwatch.observer/filing/0001437749-23-025610.txt

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