Business Context and Reporting Period
This Form 8-K filing by Belpointe PREP, LLC (NYSE American: OZ) reports on the results of its Annual Meeting of Unitholders held on September 12, 2025. The report was filed on September 16, 2025. As of the record date (June 16, 2025), the Company had 3,698,562 Class A units, 100,000 Class B units, and one Class M unit outstanding.
Key Financial Metrics
This filing is a Current Report regarding corporate governance and does not contain financial performance data. The text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes and Voting Results
The filing details the approval of two proposals by unitholders:
- Election of Directors: Two Class I directors were elected to serve until the 2028 annual meeting.
- Timothy Oberweger: Approved with 916,800 votes For, 34,614 Against, and 3,588 Abstentions. There were 1,215,006 broker non-votes.
- Shawn Orser: Approved with 623,240 votes For, 289,569 Against, and 42,193 Abstentions. There were 1,215,006 broker non-votes.
- Ratification of Auditors: The appointment of CohnReznick LLP as the independent registered public accounting firm for the fiscal year ended December 31, 2025, was approved.
- Votes: 22,930,963 For, 78,724 Against, and 6,651 Abstained. There were no broker non-votes.
Voting Structure Note: The holder of the Class M unit was not entitled to vote on the election of Class I directors but held voting power equal to ten times the aggregate number of Class A and Class B units on other matters.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. It strictly reports the procedural outcomes of the Annual Meeting.
Key Facts for Investor Verification
- Verify the tenure of the newly elected Class I directors (Timothy Oberweger and Shawn Orser) through the 2028 annual meeting.
- Confirm the engagement of CohnReznick LLP as the independent auditor for the fiscal year ending December 31, 2025.
- Note the significant number of broker non-votes (1,215,006) on the director election proposals, which may indicate institutional holdings where voting instructions were not received.
- Review the definitive proxy statement (Schedule 14A) filed on July 28, 2025, for detailed biographical information on the directors and further context on the proposals.