Sachem Capital Corp 2025年度报告

(Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 SACHEM CAPITAL CORP. (Exact name of registrant as specified in its charter) 81-3467779 (I.R.S. Employer Identification No.) 568 East Main Street, Branford, CT 06405(Address of principal executive offices)203-433-4736Registrant’s telephone number, including area code Securities registered pursuant to section 12(g) of the Act:NONE Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. YesNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months(or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of thischapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. Seedefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accountingstandards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting underSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of anerror to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’sexecutive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo As of June30, 2025, the last business day of registrant’s most recently completed second fiscal quarter, the aggregate market value of the registrant’s voting and non-voting commonshares held by non-affiliates, computed by reference to the closing price for a common share on the NYSE American LLC on such date, was approximately $54.0 million. As of March10, 2026 the registrant had 47,967,172 common shares, $0.001 par value outstanding. DOCUMENTS INCORPORATED BY REFERENCE None. SACHEM CAPITAL CORP.FORM 10-K ANNUAL REPORT TABLE OF CONTENTS PART I4Item 1.Business4Item 1A.Risk Factors13Item 1B.Unresolved Staff Comments39Item 1C.Cybersecurity39Item 2.Properties40Item 3.Legal Proceedings40Item 4.Mine Safety Disclosures40PART II41Item 5.Market for Common Equity, Related Shareholder Matters and Small Business Issuer Purchases ofEquity Securities41Item 6.[Reserved]41Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations41Item 7A.Quantitative and Qualitative Disclosures about Market Risk52Item 8.Consolidated Financial Statements and Supplementary Data52Item 9.Change in and Disagreements with Accountants on Accounting and Financial Disclosure52Item 9A.Controls and Procedures52Item 9B.Other Information53Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections53PART III54Item 10.Directors, Executive Officers and Corporate Governance54Item 11.Executive Compensation56Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters61Item 13.Certain Relationships and Related Transactions and Director Independence62Item 14.Principal Accounting Fees and Services63PART IV64Item 15.Exhibits and Financial Statement Schedules64Item 16.Form 10-K Summary67SIGNATURES68 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This annual report on Form 10-K (this “Report”) includes forward-looking statements. All statements other than statements ofhistorical facts contained in this Report, including statements regarding our future results of operatio