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Silver Star (SLVS) Faces Hartman’s Proxy Fight: Shareholder Demands Board Overhaul After Mismanagement and Shareholder Exclusion

Summary

Al Hartman charged Silver Star’s leadership with destroying 70% of NAV since 2022 through poor governance, asset neglect, and fire-sale property disposals, while highlighting money-losing storage assets burdened by high-cost debt. He accused CEO Haddock of abusing a 3:1 “flip-in” maneuver to triple his holdings and exclude certain shareholders, raising serious legal and fiduciary concerns, including proxy solicitation without audits and withholding records. To restore accountability, Hartman proposed a new slate—himself, governance expert Brent Longnecker, and operator Benjamin Thomas—focused on disciplined asset repositioning, selling underperforming storage, and returning capital to investors.

Company Name: Silver Star Properties Reit Inc
Symbol: SLVS
Filing Date: Aug-11-2025
Filer Name: Hartman Allen R

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Source:

https://www.sec.gov/Archives/edgar/data/831616/000110465925076166/tm2523113d2_ex99-1.htm

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