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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Capital Properties Inc (QX) | USOTC:CPTP | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0025 | -0.02% | 10.05 | 10.00 | 11.40 | 10.05 | 10.05 | 10.05 | 200 | 19:26:17 |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
of incorporation)
(Commission File Number) |
(IRS Employer Identification Number) |
(Address of principal executive offices) |
(
(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-K filing 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-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications 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 | ||
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-2 of the Securities Exchange Act of 1934 (§240.12b-2 of 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 1.01 | Entry Into a Material Definitive Agreement |
On January 9, 2024, Capital Properties, Inc. (the “Company”) entered into a Second Amendment to its Lease Agreement with Metropark, Ltd., dated January 17, 2017, as amended (the “Lease Agreement”), pursuant to which Metropark agreed to return to a fixed monthly rental payment of $57,000 per month subject to adjustment in accordance with the Lease Agreement. Additionally, the Company and Metropark agreed to settle the Company’s claim for deferred rent for all prior periods amounting to $1,126,818 (which amount had been fully reserved on the Company’s books) for $150,000 payable by Metropark in twenty (20) equal quarterly installments commencing on April 1, 2024 together with interest on the unpaid balance in the amount of 4.73% per annum.
Item 5.02. | Compensation of Certain Officers |
On December 20, 2023 in accordance with the Company’s historical practice of increasing executive compensation at the approximate annual increase in the Consumer Price Index (in this case 3%) the Compensation Committee voted to increase the salary of Robert H. Eder, the Company’s, Chairman, President and Chief Executive Officer to $337,100 per year and Susan R. Johnson, the Company’s Treasurer and Chief Financial Officer, to $168,700 per year, each effective January 1, 2024.
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: January 10, 2024 | By: | /s/ Susan R. Johnson | ||||
Susan R. Johnson | ||||||
Treasurer and Chief Financial Officer |
Document and Entity Information |
Dec. 20, 2023 |
---|---|
Cover [Abstract] | |
Security Exchange Name | NONE |
Amendment Flag | false |
Entity Central Index Key | 0000202947 |
Entity Address, State or Province | RI |
Document Type | 8-K |
Document Period End Date | Dec. 20, 2023 |
Entity Registrant Name | CAPITAL PROPERTIES, INC. |
Entity Incorporation State Country Code | RI |
Entity File Number | 001-08499 |
Entity Tax Identification Number | 05-0386287 |
Entity Address, Address Line One | 5 Steeple Street |
Entity Address, Address Line Two | Unit 303 |
Entity Address, City or Town | Providence |
Entity Address, Postal Zip Code | 02903 |
City Area Code | 401 |
Local Phone Number | 435-7171 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Class A Common Stock, $.01 par value |
Trading Symbol | CPTP |
Entity Emerging Growth Company | false |
1 Year Capital Properties (QX) Chart |
1 Month Capital Properties (QX) Chart |
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