Sachem Capital Corp. (SACH) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Shareholders of Sachem Capital Corp. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to John Villano, President, Chief Executive Officer and Chairman of the Board of Sachem Capital Corp. Mr. Villano, the floor is yours.

Good morning, ladies and gentlemen. I am John Villano, President, Chief Executive Officer and Chairman of the Board of Sachem Capital Corp. I welcome you to our 2026 Annual Meeting of Shareholders. With me is Jeff Walraven, our Chief Financial Officer. Today's virtual-only meeting is a live audio webcast. We believe that holding a virtual meeting makes it easier for our shareholders to attend the meeting, resulting in greater shareholder participation as well as significant cost savings for the company and our shareholders. I call your attention to the meeting links section on the right side of the meeting screen. Under the documents section, you will find a link to the rules of conduct. It is recommended that you review the rules of conduct set forth for this meeting. You'll also find a copy of the annual report and the proxy statement under the same document section by clicking on the Annual Meeting Materials link. Also present is Joel Goldschmidt from the law firm of Kurzman Eisenberg Corbin & Lever, LLP, the company's Corporate and Securities Counsel; Chuck Kronmiller of the independent accounting firm of Baker Tilly US, LLP, the company's independent auditors; Andrew Waford of Computershare, the company's transfer agent; and Armen Kassabian of ICR, Investor Relations for the company, who will help moderate the Q&A. Mr. Goldschmidt has been appointed Secretary for this meeting, and Mr. Waford has been appointed the Inspector of Elections for this meeting. The following directors are also present: Leslie Bernhard and Brian Prinz. I will now address the meeting agenda and present the affidavit of William Valentin, an employee of Computershare Communication Service, to the effect that notice of this meeting was mailed on September 11, 2026, to all shareholders of record of Sachem Capital Corp. as of September 2, 2026, the record date for this meeting. Unless specifically requested, we will dispense with the reading of such notice. A certified list of all shareholders entitled to vote at the meeting is available upon request. It shows that at the close of business on the record date, there were 47,954,632 eligible votes. I direct that the affidavit be filed with the minutes of this meeting. I present the oath of office subscribed by the inspector and direct that the oath also be filed with the minutes. The inspector has advised that he has tallied the number of votes present at the meeting and that in excess of 50% of the eligible votes are present in person or by proxy. A quorum is therefore present, and the meeting can now proceed to consider all matters coming before it. The first item of business is the reelection of John Villano, Leslie Bernhard and Brian Prinz to the company's Board to serve until the 2027 Annual Meeting of Shareholders or until their respective successors have been elected and qualified. The Board recommends a vote for each candidate. I move for approval of the reelection of each nominee to the company's Board to serve until the 2027 Annual Meeting of Shareholders or until their respective successors have been elected and qualified.

I second the motion.

The second item of business is the advisory approval of the appointment of Baker Tilly US, LLP as the company's independent auditors for the fiscal year ending December 31, 2026. The Board recommends a vote for the proposal. I move for the advisory approval of the appointment of Baker Tilly US, LLP as the company's independent auditors for the 2026 fiscal year.

I second the motion.

The third item of business is the approval of the nonbinding advisory resolution relating to executive compensation. The Board recommends a vote for the proposal. I move for the approval of the nonbinding advisory resolution relating to executive compensation.

I second the motion.

Before we open the floor, I'd like to address the pending contribution transaction with Industrial Realty Group. We are limited in what we can discuss beyond the information we have already made public. So we encourage you to review our SEC filings and press release for the latest details. We remain committed to completing the transaction, and we appreciate your patience and continued support.