Safe & Green Holdings Corp. Appoints Jim Pendergast as Chief Operating Officer

On January 16, 2025, Safe & Green Holdings Corp. (NASDAQ:SGBX) made a significant move by naming Jim Pendergast as the company’s Chief Operating Officer. The appointment was accompanied by the execution of an employment agreement between the company and Mr. Pendergast. This agreement outlines a two-year initial term, featuring an annual base salary of $200,000, a restricted stock grant for 200,000 shares of the company’s common stock, vesting over a period of eighteen months, and a performance bonus of up to 20% of Mr. Pendergast’s base salary, payable in cash and/or equity as decided by the company’s Board of Directors.

Mr. Pendergast brings a wealth of experience in corporate operations, having held leadership positions in various sectors such as energy, construction, manufacturing, and agriculture. His background includes roles as CEO, CFO, and COO in both public and private companies. His expertise spans mergers and acquisitions, corporate restructuring, and equity and debt financing.

Notable positions in Mr. Pendergast’s career include serving as COO at MGO Systems Ltd., overseeing numerous construction projects, and as CEO/CFO at Paramount Structures Inc., where he led the company through acquisition and financial restructuring. As CEO of FP Genetics Inc., he successfully redirected the company towards profitable growth. Additionally, Mr. Pendergast managed significant business development projects and engaged with investors during his tenure at Agrium Inc.

To ensure continued commitment, Mr. Pendergast is bound by a one-year post-termination non-compete and non-solicitation agreement concerning employees and clients, along with confidentiality provisions. It is important to note that there are no familial relationships between Mr. Pendergast and any of the company’s directors or executive officers. Beyond the disclosed information, there are no other transactions involving Mr. Pendergast that require reporting under Item 404(a) of Regulation S-K.

The details of the employment agreement are not exhaustive and interested parties are encouraged to refer to the full text of the agreement, which has been filed as Exhibit 10.1 to the Current Report on Form 8-K. This document offers a comprehensive understanding of the terms outlined in Mr. Pendergast’s employment.

In conjunction with this appointment, Safe & Green (NASDAQ:SGBX) submitted the necessary filings, including the Employment Agreement, to the Securities and Exchange Commission. The inclusion of Mr. Pendergast as Chief Operating Officer is expected to bring a new wave of leadership and operational expertise to the company.

This disclosure falls under the purview of Item 5.02 of the SEC rules and regulations, pertaining to the departure and appointment of key executives within a publicly traded company. Additionally, pursuant to Item 9.01, the company has provided relevant financial statements and exhibits for public review.

The signing officer for Safe & Green Holdings Corp. for this report is Patricia Kaelin, who currently serves as the Chief Financial Officer. The report was authorized and signed as of January 21, 2025.

The news of Mr. Pendergast’s appointment comes at a crucial time for Safe & Green, aligning with the company’s strategic plans for growth and operational excellence. Investors and stakeholders are likely to monitor the impact of this decision on the company’s performance moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Safe & Green’s 8K filing here.

About Safe & Green

Safe & Green Holdings Corp. is a design and construction services company, which engages in the provision of code engineered cargo shipping containers. It operates through the following segments: Construction, Medical, Development, and Corporate and Support. The Construction Services segment includes the manufacturing of unit SG ECHO and other modules projects.