Peter Abramowitz

- Douglas Elliman Inc. (DOUG) completed the **sale of its property management business, Douglas Elliman Property Management (DEPM)**, to PMG Holdings, Inc. on **October 24, 2025**, for a base purchase price of **$85 million**.  **[1878897_0001878897-25-000060_doug-20251024.htm:1]** 
- Concurrently, the company **repaid and redeemed all its senior secured convertible promissory notes** due July 2, 2029, for an aggregate payment of **$95 million**, which included approximately $1.4 million of accrued interest.  **[1878897_0001878897-25-000060_doug-20251024.htm:5]** 
- The company expects to recognize **more than a $75 million after-tax gain** in the fourth quarter of 2025 as a result of the DEPM Sale and the redemption of the Convertible Notes.  **[1878897_0001878897-25-000060_doug-20251024.htm:1]** 
- After these transactions, Douglas Elliman Inc. reported approximately **$130 million of unrestricted cash and cash equivalents** as of the closing date.  **[1878897_0001878897-25-000060_doug-20251024.htm:5]** 
- **David K. Chene**, a KLIM-designated director, **resigned from the Board of Directors** and all committees thereof, effective immediately after the closing of the DEPM Sale.  **[1878897_0001878897-25-000060_doug-20251024.htm:4]**

Douglas Elliman (DOUG)