Gyrodyne settles with Star Equity; board reduced to four, Star Equity withdraws nominations

Gyrodyne, LLC

Star Equity withdraws June 4, 2025 board nominations; board size cut from five to four.
Richard Smith sole nominee at 2025 annual meeting; director fees frozen, chairman cap $65k.
Star Equity agrees to standstill until Dec 31, 2026 (or Dec 31, 2027 if certain directors renominated).
Separate pact with Leap Tide includes voting commitment and standstill until 2028 annual meeting.
Director Paul Lamb, 28-year board member, will not stand for re-election.

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