SEC Form DEF 14A filed by American Strategic Investment Co.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Securities Exchange Act of 1934
Chief Executive Officer
Newport, Rhode Island 02840
TO BE HELD ON MAY 29, 2025
Chief Executive Officer
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Newport, Rhode Island 02840
Computershare
COMPANY Legal Proxy
P.O. Box 43001
Providence, RI 02940-3001
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Directors with Terms expiring at the
Annual Meeting/Nominee |
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Class
|
| |
Age
|
| |
Position
|
| |
Director
Since |
| |
Current
Term Expires |
| |
Expiration
of Term for Which Nominated |
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Elizabeth K. Tuppeny
|
| | II | | | | | 64 | | | |
Lead Independent Director,
Nominating and Corporate Governance Committee Chair |
| | | | 2014 | | | | | | 2025 | | | | | | 2028 | | |
| Continuing Directors | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Louis P. DiPalma
|
| | III | | | | | 63 | | | | Independent Director, Audit Committee Chair | | | | | 2022 | | | | | | 2026 | | | | | | — | | |
|
Edward M. Weil, Jr.
|
| |
III,
Managing Director |
| | | | 58 | | | | Director | | | | | 2015 | | | | | | 2026 | | | | | | — | | |
|
Nicholas Radesca
|
| | I | | | | | 59 | | | | Independent Director, Compensation Committee Chair | | | | | 2023 | | | | | | 2027 | | | | | | | | |
|
Executive Officers
(not listed above) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Nicholas S. Schorsch, Jr.
|
| | N/A | | | | | 39 | | | | Chief Executive Officer | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
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Michael LeSanto
|
| | N/A | | | | | 39 | | | | Chief Financial Officer and Treasurer | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
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Name and Principal Position
|
| |
Year
|
| |
Salary
($)(1) |
| |
Bonus
($)(1) |
| |
Stock Awards
($)(2) |
| |
All Other
Compensation ($) |
| |
Total
($) |
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Michael Anderson,
Former Chief Executive Officer* |
| | | | 2024 | | | | | $ | 272,931 | | | | | $ | 173,077 | | | | | $ | 90,800 | | | | | $ | 7,771(3) | | | | | $ | 544,579 | | |
| | | | 2023 | | | | | $ | 88,155 | | | | | $ | 28,240 | | | | | $ | — | | | | | $ | 13,223(3) | | | | | $ | 129,618 | | | ||
|
Joseph Marnikovic
Former Chief Financial Officer** |
| | | | 2024 | | | | | $ | 56,498 | | | | | $ | — | | | | | $ | — | | | | | $ | 8,475(4) | | | | | $ | 64,793 | | |
| | | | 2023 | | | | | $ | 38,525 | | | | | $ | 14,605 | | | | | $ | — | | | | | $ | 5,779(4) | | | | | $ | 58,909 | | | ||
|
Michael LeSanto
Chief Financial Officer |
| | | | 2024 | | | | | $ | 234,173 | | | | | $ | 35,000 | | | | | $ | 39,725 | | | | | $ | 33,479(5) | | | | | $ | 342,377 | | |
| | | | 2023 | | | | | $ | 192,240 | | | | | $ | 25,000 | | | | | $ | 868 | | | | | $ | 31,388(5) | | | | | $ | 249,496 | | | ||
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Name
|
| |
Number of Restricted Shares
That Have Not Vested (#) |
| |
Market Value of Restricted Shares
That Have Not Vested ($)(1) |
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Michael Anderson*
|
| | | | 10,457(2) | | | | | $ | 88,779.93 | | |
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Michael LeSanto
|
| | | | 4,527(3) | | | | | $ | 38,434.23 | | |
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Name
|
| |
Fees
Paid in Cash ($) |
| |
Stock
Awards ($)(1) |
| |
Option
Awards ($) |
| |
Non-Equity
Incentive Plan Compensation ($) |
| |
Changes in
Pension Value and Nonqualified Deferred Compensation Earnings ($) |
| |
All
Other Compensation ($) |
| |
Total
Compensation ($) |
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Edward M. Weil, Jr.
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | | — | | |
|
Elizabeth K. Tuppeny
|
| | | $ | 113,000 | | | | | $ | 63,719 | | | | | | — | | | | | | — | | | | | | — | | | | | $ | — | | | | | $ | 176,719 | | |
|
Nicholas Radesca
|
| | | $ | 38,250 | | | | | $ | 63,719 | | | | | | — | | | | | | — | | | | | | — | | | | | $ | — | | | | | $ | 101,969 | | |
|
Louis P. DiPalma
|
| | | $ | 59,500 | | | | | $ | 63,719 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 123,219 | | |
|
Abby M. Wenzel(2)
|
| | | $ | 18,250 | | | | | | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 18,250 | | |
|
Plan Category
|
| |
Number of Securities
to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights (a) |
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Weighted- Average
Exercise Price of Outstanding Options, Warrants and Rights (b) |
| |
Number of Securities
Remaining Available For Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a) (c) |
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Equity Compensation Plans approved by security holders
|
| | | | — | | | | | | — | | | | | | — | | |
|
Equity Compensation Plans not approved by security holders
|
| | | | — | | | | | | — | | | | | | 347,343(1) | | |
|
Total
|
| | | | — | | | | | | — | | | | | | 347,343 | | |
| Year | | | Summary Compensation Table Total for PEO(1) | | | Compensation Actually Paid to PEO(1)(3) | | | Summary Compensation Table Total for PEO(2) | | | Compensation Actually Paid to PEO(2)(3) | | | Average Summary Compensation Table Total for Non-PEO NEOs(3)(4) | | | Average Compensation Actually Paid to Non-PEO NEOs(3) | | ||||||||||||||||||
| 2024 | | | | | | | | | | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||||
| 2023 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||||
| 2022 | | | | $ | | | | | $ | | | | | | | | | | | | | | | $ | | | | | $ | | | ||||||
| | | | | | | | | | | | | | | | Additions to SCT(2) | | | | | | | | | | | | | | |||||||||||||||
| Fiscal Year | | | Summary Compensation Table (“SCT”) Total | | | Deductions from SCT(1) | | | Fair Value of Current Year Equity Awards | | | Change in Value of Prior Years’ Awards Unvested | | | Change in Value of Prior Years’ Awards that Vested | | | Deductions for Forfeited Awards | | | CAP(3) | | |||||||||||||||||||||
| 2024 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | |||||||
| 2023 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | ( | | | | | $ | | | | | $ | | | ||||||
| 2022 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | |||||||
| | | |
Common Stock
|
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Beneficial Owner(1)
|
| |
Number of Shares
Beneficially Owned |
| |
Percent of
Class |
| ||||||
|
Bellevue Capital Partners, LLC and its affiliates(3)(4)
|
| | |
|
1,487,273
|
| | | |
|
56.5%
|
| |
|
Edward M. Weil, Jr.(5)
|
| | |
|
109
|
| | | |
|
*
|
| |
|
Elizabeth K. Tuppeny(6)
|
| | |
|
15,349
|
| | | |
|
*
|
| |
|
Louis P. DiPalma(6)
|
| | |
|
17,647
|
| | | |
|
*
|
| |
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Nicholas Radesca
|
| | |
|
7,072
|
| | | |
|
*
|
| |
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Michael Anderson
|
| | |
|
11,007
|
| | | |
|
*
|
| |
|
Michael LeSanto
|
| | |
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4,592
|
| | | |
|
*
|
| |
|
All directors and executive officers as a group (six persons)
|
| | |
|
45,776
|
| | | | | | | |
| | | |
Year Ended December 31, 2024
|
| |
Payable (Receivable)
Incurred December 31, 2024 |
| ||||||
|
(In thousands)
|
| |
Incurred
|
| |||||||||
| Ongoing fees: | | | | | | | | | | | | | |
|
Asset and property management fees to related parties(1)
|
| | | $ | 7,751 | | | | | | — | | |
|
Professional fees and other reimbursements(2)
|
| | | | 4,128 | | | | | | — | | |
|
Total related party operation fees and reimbursements
|
| | |
$
|
11,879
|
| | | | | — | | |
Elizabeth K. Tuppeny
Nicholas Redesca
Nicholas Redesca
| | | |
2024
|
| |
2023
|
| ||||||
|
Audit Fees
|
| | | $ | 1,328,873 | | | | | $ | 1,023,064 | | |
|
Audit Related fees
|
| | | | — | | | | | | — | | |
|
Tax Fees
|
| | | | — | | | | | | — | | |
|
All Other Fees
|
| | | | — | | | | | | — | | |
|
Total
|
| | | $ | 1,328,873 | | | | | $ | 1,023,064 | | |
Chief Executive Officer