Medalist Diversified, Inc 8-K/A, filed Jul 21, 2023
Medalist Diversified, Inc. (MDRR)
About this 8-K/A
Medalist Diversified, Inc filed this 8-K/A on July 21, 2023, reporting on events of July 18, 2023.
Items reported
- Item 1.02: Ended a material agreement
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
(Amendment No. 1)
CURRENT REPORT
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Explanatory Note
On July 18, 2023, Medalist Diversified REIT, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original Form 8-K”) to report Colin M. Elliott’s resignation as an employee of Gunston Consulting, LLC, and consequently as Vice President of the Company. The Company is filing this amendment to the Original Form 8-K to disclose the terms of the Separation Agreement and General Release, by and among Gunston Consulting, LLC, the Company, and Mr. Elliott.
Item 1.02. Termination of a Material Definitive Agreement.
The information set forth in Item 5.02 with respect to the termination of the Elliott Agreements (as defined below) is incorporated by reference into this Item 1.02.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 20, 2023, Mr. Elliott and the Company entered into a Separation Agreement and General Release (the “Agreement”) related to Mr. Elliott’s resignation as an employee of Gunston Consulting, LLC, and consequently as Vice President of the Company.
The Agreement provides for the resignation of Mr. Elliott, effective as of July 20, 2023, and termination of (i) Mr. Elliott’s change of control of control agreement with the Company previously filed as Exhibit 10.3 of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and (ii) the letter agreement dated November 30, 2022 previously filed as Exhibit 10.16 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 ((i) and (ii) collectively, the “Elliott Agreements”).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MEDALIST DIVERSIFIED REIT, INC. | ||
| Dated: July 21, 2023 | By: | /s/ C. Brent Winn, Jr. |
| C. Brent Winn, Jr. | ||
| Chief Financial Officer | ||