Power REIT Preferred Holders Sue Trust to Force Special Meeting, Nominate Two Trustees
PW sits 38% above its 52-week low of $5 on elevated volume (2.6× avg).
Summary
Power REIT's activist Series A Preferred holders (about 12% of the class) sued the trust on October 28 to compel a special meeting and elect two trustees, escalating a governance fight days before the November 10 adjourned annual meeting.
Key Events · Corporate Governance and Compliance · PW
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Preferred Holders Sue to Force Meeting
On October 28, 2026, the Reporting Persons filed suit in the Circuit Court for Baltimore County, Maryland to compel Power REIT to call, notice and hold a special meeting of Series A Preferred holders to elect two additional trustees under Section 8(a) of the Articles Supplementary.
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Two Trustee Nominees Named
The group's nominees are Alexander Kachmar and David Cacciapaglia; the initial written demand was delivered May 26, 2026 and reiterated October 16, 2026 as holders of record of more than 10% of the Series A Preferred Stock.
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Group Holds 12.0% of Series A
The Reporting Persons may be deemed to beneficially own 40,487 Series A Preferred shares, about 12.0% of the 336,944 shares outstanding as of June 30, 2026 per the company's 10-Q filed August 12, 2026.
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Open-Market Preferred Buying Continued
Bradley & Daytona and Alexander Kachmar bought 392 Series A Preferred shares between 10/08/2026 and 10/19/2026 at average prices of $6.79 to $6.99, per Exhibit 99.A.
Analysis · PW · Real Estate & Construction
A 12% Series A Preferred group led by Alexander Kachmar and David Cacciapaglia has taken Power REIT to Maryland court to force a special preferred-holder meeting to elect two additional trustees — seats the Articles Supplementary entitle them to fill. The move is a direct challenge to a board already under pressure: the annual meeting was adjourned to November 10 because the Series A amendment vote failed, and ISS has recommended withholding votes for four trustees including David Lesser. Should the suit succeed, the activists gain board seats at a company whose own board says a failed Series A vote risks NYSE American delisting and Exchange Act deregistration. The group kept buying preferred on the open market through October 19 at $6.79-$6.99, so its stake is still growing.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 38.5% of the 1020 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PW was trading at $6.88 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $2.5M. The 52-week trading range was $5.00 to $12.92. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.