SREIT 2024 Annual Report

TABLE OF CONTENTS

Page

PART I. ITEM 1.

BUSINESS ........................................................................................................................................................... 6 ITEM 1A. RISK FACTORS.................................................................................................................................................. 10 ITEM 1B. UNRESOLVED STAFF COMMENTS .............................................................................................................. 59 ITEM 1C. CYBERSECURITY ............................................................................................................................................. 59 ITEM 2. PROPERTIES ...................................................................................................................................................... 60 ITEM 3. LEGAL PROCEEDINGS.................................................................................................................................... 60 ITEM 4. MINE SAFETY DISCLOSURES........................................................................................................................ 60

PART II. ITEM 5. ITEM 6. ITEM 7.

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES..................................................................................... 61 RESERVED ......................................................................................................................................................... 70

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.......................................................................................................................................... 71 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.................................... 85 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.................................................................... 86 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE......................................................................................................................... 86 ITEM 9A. CONTROLS AND PROCEDURES.................................................................................................................... 86 ITEM 9B. OTHER INFORMATION.................................................................................................................................... 87 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS................... 87

PART III. ITEM 10. ITEM 11. ITEM 12.

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE ............................................ 89 EXECUTIVE COMPENSATION....................................................................................................................... 93 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.................................................................................................... 95 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE .......................................................................................................................................... 96 PRINCIPAL ACCOUNTING FEES AND SERVICES...................................................................................... 103

ITEM 13.

ITEM 14.

PART IV. ITEM 15. ITEM 16.

EXHIBITS, FINANCIAL STATEMENT SCHEDULES................................................................................... 105 FORM 10-K SUMMARY.................................................................................................................................... 106 SIGNATURES........................................................................................................................................................................... 107

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