Gyrodyne与Star Equity Fund达成协议，根据该协议，Star Equity Fund已撤回其在2025年年度股东大会上选举的提名人名单，Gyrodyne将将其董事会规模从5名董事减少至4名董事

Gyrodyne, LLC (NASDAQ:GYRO), an owner and manager of a diversified portfolio of real estate properties ("Gyrodyne"), today announced that it has entered into an agreement (the "Agreement") with Star Equity Fund, LP ("Star Equity Fund"), under which Star Equity Fund has withdrawn its slate of nominees for election at the 2025 annual shareholders meeting, and Gyrodyne will reduce the size of its board from five to four directors, freeze director compensation and limit the aggregate fee paid to the Chairman to $65,000. In connection with the reduction in board size, Richard Smith will be the sole nominee standing for election at the 2025 annual shareholders meeting.

Star Equity has also agreed to certain customary standstill provisions. The full agreement with Star Equity will be filed in a Current Report on Form 8-K with the Securities and Exchange Commission.

The agreement with Star Equity Fund reflects Gyrodyne's continued commitment to constructive engagement with shareholders as part of its ongoing efforts to strengthen governance, enhance transparency and drive long-term value creation for all shareholders.

Gary Fitlin, Gyrodyne's President and Chief Executive Officer, stated that "We appreciate the thoughtful input from Star Equity and our broader shareholder base. Their perspectives have strengthened our efforts as we work toward completing the sale of our properties and delivering maximum value to our shareholders."

Jeff Eberwein, manager of Star Equity Fund, added that "Following the most recent constructive discussions with the company, we are pleased to have worked collaboratively with the Board to enhance governance and further align with shareholders' interests".

Nader Salour, Chairman of Gyrodyne's Nominating Committee, also added: "On behalf of the entire company and Board of Directors, I want to express our deep gratitude to Paul Lamb for his extraordinary 28 years of service to Gyrodyne. His steady leadership and strategic vision have been instrumental in guiding the company through periods of tremendous challenge and transformation. Paul Lamb leaves behind a lasting legacy of integrity and a steadfast commitment to our stakeholders. While he will not be standing for re-election at the upcoming shareholders' meeting, as a significant shareholder he will continue to be an important voice and valued supporter of the company's long-term success. We thank him for his many contributions and wish him the very best in the years ahead."