Departed
Philip F. Palmedo
Director
GYRO ·
Gyrodyne, LLC
resigned as a director of the Company due to health concerns, effective July 28, 2023.
Ready 8-Ks
28
Latest filing
August 7, 2026, 4:00 PM ET
Top materiality
0.80
Event mix
other_material ×23 · litigation ×2 · leadership ×1
Sentiment
5 pos · 2 neg · 21 neu
Executive change
recent →
Recent 8-K filings for GYRO
Highest-materiality recent filing
Gyrodyne's Cortlandt Manor property rezoned as Medical Oriented District; sale planned
- Town Board unanimously adopted SEQRA findings and approved MOD local law on March 20, 2023.
- Gyrodyne receives MOD campus designation for 154,000 sq ft (150k medical, 4k retail) on 12.61 acres.
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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.
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Second Amendment provides $1,520,222 credit to B2K for on-site improvements on Lots 1 and 3 of Flowerfield.
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Gyrodyne LLC announces shareholder voting results from 2025 annual meeting
Richard B. Smith elected as director with 1,394,282 votes for and 29,759 withheld.
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Gyrodyne CEO provides operational update; Flowerfield parcel sale for $28.74M targeted end of 2027
Sold 49 undeveloped acres of Flowerfield to B2K Development for $28.74M; close expected end 2027 subject to litigation & approvals.
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Gyrodyne settles with Star Equity; board reduced to four, Star Equity withdraws nominations
Star Equity withdraws June 4, 2025 board nominations; board size cut from five to four.
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Gyrodyne signs agreement to sell 49-acre parcel for up to $28.74M; NAV per share rises to $14.83
Purchase price range $24M-$28.74M, estimated final price $28.74M; buyer B2K Smithtown LLC.
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NY Supreme Court dismisses Article 78 petition against Gyrodyne's Flowerfield subdivision approval
On October 11, 2024, the NY Supreme Court ruled in favor of Gyrodyne, dismissing the Article 78 petition challenging the 8-lot subdivision of its Flowerfield property.
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Gyrodyne LLC reports 2024 annual meeting voting results
Director Ronald J. Macklin elected with 1,030,041 for, 325,673 withheld, and 585,051 broker non-votes.
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Rights offering oversubscribed 65%, net proceeds $4.4M to defend Article 78 litigation and negotiate from strength.
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Gyrodyne closes oversubscribed rights offering, raises $5M gross
Gross proceeds of $5M from sale of 625,000 shares at $8 per share; net proceeds ~$4.4M.
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Court partially denies motions to dismiss in Article 78 proceeding; answer due in 20 days
Supreme Court of NY, Suffolk County, issued order on Feb 6, 2024, partially denying and granting motions.
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Gyrodyne launches rights offering to raise up to $5M at $8.00 per share
Rights offering to raise up to $5M via 625K shares at $8.00/share.
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Gyrodyne sets record date Jan 29 for $5M rights offering at $8.00/share
Record date for proposed rights offering is Jan 29, 2024 at 5:00 p.m. ET.
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Gyrodyne secures $1.5M term mortgage loan for working capital
Principal $1.5M from LLYR Resources, LLC; two-year term, floating rate at 1.5% above Wall Street Prime Rate.
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Gyrodyne shareholders approve all four proposals at 2023 annual meeting
Jan H. Loeb and Nader G.M. Salour elected as directors for three-year terms with 705,265 and 732,037 FOR votes, respectively.
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Gyrodyne reports estimated NAV of $20.14/share, updates on entitlement delays and activist costs
Estimated liquidating value $20.14 per share at Q2 2023, up $4.61 from Dec 2021, driven by $11.1M real estate value increase.
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Gyrodyne amends bonus plan; directors waive cash for 91,628 shares
Director participants waive bonus plan benefits for 91,628 shares under new Stock Plan, subject to shareholder approval.
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Gyrodyne settles with Star Equity; adopts stock plan for directors, freezes fees
Gyrodyne will submit a new stock incentive plan to shareholders; $579,328 in director bonus benefits exchanged for shares.
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Confidentiality agreement signed August 16, 2023 with Star Equity Fund to facilitate discussions about 2023 annual meeting.
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Gyrodyne appoints Jan Loeb to board under cooperation agreement; Palmedo resigns
Cooperation Agreement with Leap Tide Capital Management; Loeb appointed and will be nominated for 2023 annual meeting.
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Gyrodyne's Cortlandt Manor property rezoned as Medical Oriented District; sale planned
Town Board unanimously adopted SEQRA findings and approved MOD local law on March 20, 2023.
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Gyrodyne CEO letter outlines progress on entitlements, targets dissolution by end of 2024
Total real estate assets $42.5M, debt $9.8M, loan-to-value 23% as of Q3 2022.
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Gyrodyne (GYRO) shareholders withhold majority from both director nominees; say-on-pay fails
85.70% of eligible shares voted at Aug 24 annual meeting; 1,270,616 of 1,482,680 shares represented.
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NAV per share $15.50 as of June 30, 2022, up $0.33 from Dec 31, 2020; real estate value up $3.99M offset by $3.5M higher liquidation costs.
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Gyrodyne faces Article 78 lawsuit seeking to annul Flowerfield subdivision approval
Petitioners filed Article 78 petition April 26 in NY Supreme Court, Suffolk County, to annul Planning Board's preliminary subdivision approval.
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Town of Smithtown Planning Board granted preliminary subdivision approval on March 30, 2022, subject to conditions including stormwater plan and SEQRA findings.
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Gyrodyne annual meeting elects two directors; say-on-pay vote shows high abstentions
Directors Elliot H. Levine and Ronald J. Macklin elected with 460,556 and 458,122 for votes respectively; 420,238 broker non-votes each.
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Gyrodyne NAV per share falls 28% to $15.22; progress on entitlements but timeline extended to 2022
NAV per share $15.22 at March 31, 2021, down 28% from $21.20 a year ago; pandemic blamed for terminated purchase agreements and delays.
Executive changes
Appointed
Jan H. Loeb
Director
GYRO ·
Gyrodyne, LLC
appointed Jan H. Loeb to the Board to fill the vacancy on the Board created by Mr. Palmedo’s resignation
Materiality & sentiment trend
Max materiality 0.80 · Median 0.60 · Most common event other_material