Capital Properties : Management Change/Compensation - Form 8-K
November 18, 2022 at 01:09 pm
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8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 17, 2022
CAPITAL PROPERTIES, INC.
(Exact name of registrant as specified in its charter)
Rhode Island
(State or other jurisdiction of incorporation)
001-08499
05-0386287
(Commission
File Number)
(IRS Employer
Identification Number)
5 Steeple Street, Unit 303
Providence, R.I.02903
(Address of principal executive offices)
(401) 435-7171
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-Kfiling is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencementcommunications pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencementcommunications pursuant to Rule 13e-4(c)under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each Class
Trading
Symbol
Name of each exchange
on which registered
Class A Common Stock, $.01 par value
CPTP
OTCQX
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2of the Securities Exchange Act of 1934 (§240.12b-2of this chapter).
Emerging growth company ☐
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.
Compensation of Certain Officers
On November 17, 2022 the Compensation Committee voted to increase the salary of Robert H. Eder, the Company's, Chairman, President and Chief Executive Officer to $327,200 per year and Susan Johnson, the Company's Treasurer and Chief Financial Officer, to $163,800 per year, each effective January 1, 2023.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CAPITAL PROPERTIES, INC.
Date: November 18, 2022
By:
/s/ Susan R. Johnson
Susan R. Johnson
Treasurer and Chief Financial Officer
3
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Capital Properties Inc. published this content on 18 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2022 18:08:05 UTC.
Capital Properties, Inc. is engaged in the business of leasing the Company-owned land in Capital Center (Capital Center) and property adjacent to Capital Center (Parcel 20) in downtown Providence, Rhode Island under long-term ground leases with terms of 99 years or more. The Companyâs real properties are leased either under long-term leases or short-term leases. The Company owns approximately 18 acres in Capital Center consisting of 13 individual parcels. Capital Center, which is approximately 77 acres of land, is the result of a development project undertaken by the state of Rhode Island, the City of Providence, and the National Railroad Passenger Corporation (Amtrak). The Company also owns or controls 23 locations in Rhode Island and Massachusetts on which 44 billboard faces have been constructed. The Company also leases Parcels 3E, 3W, 4E, 4W and a portion of Parcel 20 in the Capital Center Area for public parking purposes to Metropark, Ltd.