Chairman Letter to Shareholders
Dear fellow shareholders,
On behalf of the Shee Atiká Board, I want to update you on several very recent events for our corporation and Trusts.
First, Norma Perkins, our senior-most director has decided to retire from the Board for health reasons. We are all sad to see Norma go, and her wisdom and humor will be deeply missed in the Boardroom. In her role as corporate secretary and Governance Committee chair, Norma has been very key in our efforts to develop and follow consistent practices and procedures as to how SAI is governed. As SAI grows in size, it is critical that we have these practices and procedures in place so that all are treated fairly and Norma is a big part of the reason we now have them.
Norma’s successor will be chosen through a process that is open to any SAI shareholder 18 years of age or older who owns voting stock, submits an application packet (available from the SAI shareholder portal and website) and otherwise meets the qualifications set forth in our Bylaws. These qualifications are described in the application. From those shareholders who submit an application by December 19, 2025, and after conducting background checks, the Board will interview up to five candidates at our February 13, 2026, Board meeting, and then appoint a new director to serve until the 2028 annual meeting. It is a fitting tribute to Norma that her successor will be chosen under the very process that Norma and her Governance Committee developed for just this purpose over the past two years.
Last Friday, the SAFE Trustees declared a 2025 Fall distribution of $8.25/Trust Unit, payable by mail on December 11, 2025 and electronically December 8, 2025, to the Beneficiaries of record on November 24, 2025. This Fall distribution is in addition to the one-time special distribution of $7.00/Trust Unit that SAFE paid in July from the proceeds of the sale of SAFE’s Colorado Spring property. We are all thrilled with the progress we are making in growing SAFE for the future and increasing our annual Fall distribution. Just a few short years ago, SAFE had to struggle to pay $6/Trust Unit, and thanks to the success of SAFE’s investments, the 2025 Fall distribution will be $8.25/Trust Unit.
SAI is having another great year, and we are anticipating that our corporation will generate over $100 million in annual revenue for 2025. Reinvestments are necessary so that SAI’s business growth can continue, and from SAI’s profits, SAI is purchasing a building in Huntsville, Alabama in which one of our subsidiaries, Eikon Research, Inc. is located. This will help lower Eikon’s costs, meaning more profit for shareholders. It is possible other SAI subsidiaries will eventually be located in the new building as well, although at present, the other space in the Huntsville building is leased at market rates to third parties.
The plan is that SAI’s new Huntsville building will be contributed to SAFE before December 31, 2025, which would bring SAFE’s total assets to over $61 million. This $61 million value represents a substantial increase over SAFE’s asset value from just a few years ago and demonstrates how successful SAFE’s investments have been.
Finally, this fall our Board transferred ownership of our 3,000 acres of surface estate at Katlian Bay to the Shee Atiká Land Trust (“SALT”), the new ANCSA settlement trust SAI’s shareholders approved at the June 2025 annual meeting. As you all know, the Katlian lands have significant cultural, traditional and heritage value for our shareholders, and the Board transferred the Katlian lands to SALT to protect these lands in view of the road the State is building into the Katlian area from the road’s present endpoint at the Starrigavan River.
Your Board thanks you for the opportunity to serve you, we hope you enjoy hearing these updates, and we wish you a Happy Holiday Season.
Gunalchéesh,
Steve Karpstein
Chairman of the Board
