STAR EQUITY P.PFD SE.A DL

Star Equity Fund, which holds a 5.4% stake in GEE Group, has nominated Rick Coleman for the board and recommended the removal of directors Peter Tanous and Thomas Vetrano. The fund criticizes their roles on the compensation committee over the executive contracts approved in 2023 and is calling for merger talks as well as the start of a sales process. GEE recently reported revenue declining to $86 million from $165 million in 2022, its stock is down about 58% over five years; two directors recently resigned and the company is exploring strategic alternatives. » More on de.investing.com

Star Equity Holdings subsidiary Alliance Drilling Tools agreed to three sale-and-leaseback transactions with Custom Capital for properties in Texas ($1.1m), Utah ($0.6m) and Wyoming ($1.7m), with a total purchase price of $3.4m. ADT will sell the assets and lease them back under separate triple-net leases with an initial term of 20 years and extension options, during which ADT will pay all property-related costs; Star Equity guarantees the leases. Closing is expected in Q1 2026; net proceeds will be received after commissions and transaction costs, and completion is subject to customary closing conditions. » More on de.investing.com

The board of Star Equity Holdings approved a revised employment agreement with CEO Jeffrey E. Eberwein through December 31, 2026, with automatic one-year renewals; base salary remains $500,000 and may be paid in whole or in part in equity. Discretionary bonuses will continue to be granted, granted Restricted Stock Units vest over three years, and there is no obligation to provide severance in the event of a change in control. In parallel, Eberwein completed a securities exchange: he acquired 287,631 common shares at $10.43 by transferring 320,855 series A preferred shares and now holds economically 983,619 common shares (26.15%) and 810,217 preferred shares (34.19%). » More on de.investing.com