FRP Holdings, Inc. Announces Board and Committee Appointments
March 12, 2024 at 04:17 pm EDT
Share
On March 6, 2024, the board of directors of FRP Holdings, Inc. unanimously voted to expand the size of the board of directors by one seat and elect David H. deVilliers, Jr. and Matthew S. McAfee to fill the vacancies on the board of directors (one of which resulted from the passing of Charles E. Commander), with their respective terms commencing on March 6, 2024. Mr. deVilliers currently serves as the President of the Company and is a named executive officer whose compensation is discussed in the Company's Annual Report on Form 10-K and Proxy Statement. He will not receive any additional compensation as a director of the Company. Mr. deVilliers will serve as the Vice Chairman of the board of directors. Matthew S. McAfee has been a practicing real estate lawyer for over 30 years. His practice focuses on commercial real estate transactions, commercial leasing and real estate project finance. In 2003, Mr. McAfee founded Driver McAfee Hawthrone & Diebenow, PLLC, located in Jacksonville, Florida, where he continues to
practice. Mr. McAfee previously served as the Chairman of the Jacksonville Symphony Orchestra and the President of the Tree Hill Nature Center. He received a J.D from the University of Florida Levin College of Law and a B.S. from Duke University. Mr. McAfee brings extensive knowledge of the commercial real estate industry, valuable legal experience and experience in board leadership to the FRP Board. Mr. McAfee, will receive director compensation consistent with the existing compensation arrangements for the Company's non-employee directors. He will serve as a member of the Audit Committee and Compensation Committee and will serve as the chairman of the Nominating & Governance Committee of the board of directors.
FRP Holdings, Inc. is a holding company, which is engaged in various real estate businesses. The Company operates through four segments: Asset Management, Mining Royalty Lands, Development, and Stabilized Joint Venture Segment. Asset Management segment is engaged in leasing and management of commercial properties owned by the Company. Mining Royalty Lands Segment is engaged in leasing and management of mining royalty land owned by the Company. The segment owns several properties comprising approximately 16,650 acres under lease for mining rents or royalties and an additional 4,280 acres. Other than one location in Virginia, all of its mining properties are located in Florida and Georgia. Development segment real property acquisition, entitlement, development and construction primarily for apartment, retail, warehouse and office buildings either alone or through joint ventures. Stabilized Joint Venture segment ownership, leasing and management of buildings through joint ventures.
FRP HOLDINGS, INC. 
