secwatch.observer — SEC 8-K summary
======================================

Issuer:     Gyrodyne, LLC (GYRO)
CIK:        0001589061
Form:       8-K
Filed at:   2026-08-07T20:00:25+00:00
Accession:  0001437749-26-026570
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gyrodyne COO Peter Pitsiokos to depart Oct 2; $100K severance, $620K savings expected
--------------------------------------------------------------------------------

- COO Peter Pitsiokos' employment terminates Oct 2, 2026; separation agreement signed Aug 3.
- Severance: $100,000 lump sum (6 months' pay) plus base salary through termination date.
- Company will have one full-time employee remaining to oversee liquidation after his departure.
- Expected savings of ~$620,000 over remaining liquidation timeline, targeted completion by end of 2028.
- Pitsiokos retains eligibility for retention bonus under plan if property sale conditions met.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589061/000143774926026570/0001437749-26-026570-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589061/000143774926026570/gyrllc20260807_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-026570

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer