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Silver Star (SLVS) Proxy Fight Heats Up as Hartman Pushes Independent Board Nominees After 70% NAV Decline

Summary

Al Hartman’s July 31, 2025 “Silver Star Proxy Discussion” accuses current leadership of destroying ~70% of NAV since 2022 via mismanagement, declining occupancies, and fire-sale disposals; flags money-losing mini-storage assets funded with high-cost debt; alleges legal violations (proxy solicitation without audit, misleading consent counts, and refusal to provide books & records); and criticizes CEO Haddock’s 3:1 “flip-in” that tripled his holdings. Hartman proposes a new slate—himself, governance expert Brent Longnecker, and operator Benjamin Thomas—to sell underperforming storage, pay down expensive debt, and return capital to shareholders.

Company Name: Silver Star Properties Reit Inc
Symbol: SLVS
Filing Date: Aug-04-2025
Filer Name: Hartman Allen R

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Source:

https://www.sec.gov/Archives/edgar/data/831616/000110465925073411/tm2522451d1_ex99-1.htm

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