Broad Street Realty, Inc. (NASDAQ:BRST) CEO Michael Z. Jacoby has recently increased his stake in the company through the acquisition of additional shares. On September 17, Jacoby purchased 13,750 shares of Broad Street Realty at a weighted average price of $0.23 per share. The total investment for these newly acquired shares amounted to approximately $3,162.
This purchase was made in multiple transactions with prices ranging from $0.17 to $0.30, demonstrating the CEO’s commitment to the company during a period of varying share prices. Following this transaction, Jacoby now directly holds a total of 3,675,303 shares in Broad Street Realty.
Additionally, it’s noted that there are 57,125 shares held indirectly by Jacoby’s spouse. However, Jacoby has disclaimed beneficial ownership of these securities, and this filing should not be taken as an admission of beneficial ownership for any legal purposes.
Investors often look to insider buying as a sign of confidence in the company’s future prospects. The recent acquisition by the CEO of Broad Street Realty may be interpreted by the market as a positive signal, underlining the leadership’s belief in the firm’s value and potential.
For those interested in Broad Street Realty’s corporate activities and insider transactions, the details of this latest development are now publicly accessible for review.
In other recent news, Sachem Capital (NYSE:) Corp. has appointed Jeffery C. Walraven to its Board of Directors. Walraven, scheduled for election at the 2024 Annual Meeting of Shareholders, boasts a wealth of experience in real estate and public company leadership. His previous roles include co-founding and serving as Chief Operating Officer of Freehold Properties, Inc., and holding an independent director and audit committee member role at Broad Street Realty, Inc. since 2023. John L. Villano, CEO and Chairman of Sachem Capital, expressed confidence in Walraven’s potential to contribute to the company’s growth and shareholder value creation. Brian Prinz, independent director and Chair of the Nominating and Corporate Governance Committee, underscored Walraven’s public company accounting and corporate finance expertise as aligning with the qualities sought for in a new independent Board member. These are recent developments from Sachem Capital, a company specializing in originating, underwriting, funding, servicing, and managing a portfolio of first mortgage-secured loans.
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