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PW SCHEDULE 13D/A: Activist campaign

Filed with the SEC on · accession 0002005138-26-000011

PW filed a SCHEDULE 13D/A (schedule 13d/a) with the SEC on Nov 12, 2026. An activist group of preferred stockholders (Bradley & Daytona Railway & Land Co. LLC, Alexander Kachmar, and David Cacciapaglia) filed an amended 13D disclosing they are litigating to compel Power REIT to hold a special meeting to elect two additional trustees, and demanding that the company not… The stock moved -0.1% by the first close after the filing.

Summary of the filing

An activist group of preferred stockholders (Bradley & Daytona Railway & Land Co. LLC, Alexander Kachmar, and David Cacciapaglia) filed an amended 13D disclosing they are litigating to compel Power REIT to hold a special meeting to elect two additional trustees, and demanding that the company not issue additional Series A Preferred shares to influence an upcoming conversion vote. The activists argue the proposed conversion of Series A Preferred into common at a 0.50 ratio values the preferred at ~$3.34/share versus a $32.75 liquidation preference plus accrued dividends.

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Key details

Aggregate Series A Preferred shares beneficially owned by reporting persons$41K
Percentage of outstanding Series A Preferred owned by reporting persons$12
Series A Preferred liquidation preference per share$25
Accrued but unpaid dividends per Series A Preferred share as of Sept 30, 2026$8
Total liquidation preference plus accrued dividends per share$33
Implied conversion value per share based on 0.50 ratio and $6.68 common price$3
Power REIT common stock closing price on Nov 11, 2026$7
Issuer/target of activist campaignPower REIT
Activist reporting personBradley & Daytona Railway & Land Co. LLC
Activist reporting personD & C Cacciapaglia Living Trust, U/A DTD 02/01/2013
Activist reporting personDavid Cacciapaglia Family Trust, U/A DTD 11/25/2020
Managing member of bradley & daytona railway & land co. llc; activist nominee for trusteeAlexander Kachmar
Trustee of d & c cacciapaglia living trust and david cacciapaglia family trust; activist nominee for trusteeDavid Cacciapaglia

How PW stock reacted

Close before

$6.68

Nov 11, 2026

First close after

-0.15%

$6.67

5 trading days

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Since filing

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Frequently asked questions

What did PW file with the SEC on Nov 12, 2026?

PW filed a SCHEDULE 13D/A (Activist campaign). An activist group of preferred stockholders (Bradley & Daytona Railway & Land Co. LLC, Alexander Kachmar, and David Cacciapaglia) filed an amended 13D disclosing they are litigating to compel Power REIT to hold a special meeting to elect two additional trustees, and demanding that the company not issue additional Series A Preferred shares to influence an upcoming conversion vote. The activists argue the proposed conversion of Series A Preferred into common at a 0.50 ratio values the preferred at ~$3.34/share versus a $32.75 liquidation preference plus accrued dividends.

What does a activist campaign mean for PW stock?

A settlement removes uncertainty; the stock often reacts to whether the amount is bigger or smaller than investors expected.

How do I read a SCHEDULE 13D/A?

A report the company filed with the SEC (the US market regulator). Start with the summary, then the key amounts and names. Compare it with the company’s earlier filings.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A SCHEDULE 13D/A (schedule 13d/a): A report the company filed with the SEC (the US market regulator).

How did PW stock react to this filing?

PW closed at $6.68 before the filing and $6.67 on Nov 12, 2026 (-0.15%).

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