8-K 1 a8-kexecutivechairman.htm 8-K Document

Washington, D.C. 20549


Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 11, 2023

(Exact name of registrant as specified in its charter)
(State or other jurisdiction of
incorporation or organization)
File Number)
(I.R.S. Employer
Identification No.)
2909 Hillcroft, Suite 420, Houston, Texas77057
(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code: (713) 467-2222

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR  240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR  240.13e-4(c))

Securities registered or to be registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
Title of each classTrading Symbol(s)Name of each exchange on which registered
 None None None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 11, 2023, the Executive Committee of the Board of Directors (the “Board”) of Silver Star Properties REIT, Inc. (the “Company”) appointed Gerald Haddock as the Company’s Executive Chairman of the Board. In connection with Mr. Haddock’s election as Executive Chairman, the Executive Committee has approved of a compensation arrangement to Mr. Haddock consisting of a payment of $175,000 for services rendered to the Executive Committee during the prior ten months as requested by the Executive Committee; payments of $15,000 per month for the next twelve months for his continuing efforts towards the Company’s New Direction Plans; and upon the successful completion of both an IPO or other method of listing the Company’s shares on an established securities exchange and a capital infusion by selling securities, Mr. Haddock shall receive 400,000 restricted stock units.

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 thereunto duly authorized.

Date: August 16, 2023By:/s/ Michael Racusin
Michael Racusin
Senior Vice President, General Counsel, and Corporate Secretary