On November 13, 2023, Transcontinental Realty Investors, Inc. filed a definitive proxy statement soliciting proxies and urged the shareholders to vote against a shareholder proposal, requesting that the Board of Directors immediately engage the services of an investment banking firm to evaluate alternatives including, but not limited to, a merger, orderly plan of liquidation or an outright sale of the Company on terms that will maximize share value for all shareholders, submitted by Gregory Greenberg at the Company?s annual shareholders meeting scheduled to be held on December 13, 2023.