4//SEC Filing
Capasse Thomas E 4
Accession 0001104659-21-145934
CIK 0001527590other
Filed
Dec 1, 7:00 PM ET
Accepted
Dec 2, 4:31 PM ET
Size
9.5 KB
Accession
0001104659-21-145934
Insider Transaction Report
Form 4
Capasse Thomas E
DirectorCEO and CIO
Transactions
- Purchase
6.50% Series E Cumulative Redeemable Preferred Stock
2021-11-30$24.59/sh+20,000$491,742→ 20,000 total
Holdings
- 102,630(indirect: By Waterfall)
Common Stock
- 309,925
Common Stock
- 26,623(indirect: By Trust)
Common Stock
Footnotes (5)
- [F1]The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $24.55 to $24.71, inclusive on November 30, 2021. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
- [F2]Upon the occurrence of a Change of Control (as defined in the Articles Supplementary relating to the Series E Preferred Stock) of the Issuer, the Reporting Person will have the right to convert the shares of Series E Preferred Stock into a number of shares of common stock of the Issuer per share of Series E Preferred Stock equal to the lesser of (A) the quotient obtained by dividing (i) the sum of (x) the $25.00 liquidation preference plus (y) the amount of any accrued and unpaid dividends by (ii) the Common Stock Price (as defined in the Articles Supplementary relating to the Series E Preferred Stock) and (B) 3.2916, subject to certain adjustments indicated in the Articles Supplementary relating to the Series E Preferred Stock.
- [F3]These shares represent the 102,630 shares of Common Stock of the Issuer out of the 341,428 and 8,869 total shares of Common Stock owned by the Manager and its affiliate, Waterfall Management, LLC ("WM" and together with the Manager, "Waterfall"), respectively, based on the Reporting Person's percentage of direct ownership interests in Waterfall.
- [F4]WM serves as the general partner of Sutherland REIT Holdings, LP (the "Partnership") and may be deemed to be the beneficial owner of the shares of Common Stock that are held by the Partnership. In addition, the Reporting Person is a principal of the Manager and may be deemed to share voting and investment power over the 13,195,300 shares of Common Stock held by the Partnership.
- [F5]These shares are held in a trust for the benefit of the Reporting Person's father. The Reporting Person's father is trustee of the trust. The Reporting Person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
Documents
Issuer
Ready Capital Corp
CIK 0001527590
Entity typeother
Related Parties
1- filerCIK 0001469065
Filing Metadata
- Form type
- 4
- Filed
- Dec 1, 7:00 PM ET
- Accepted
- Dec 2, 4:31 PM ET
- Size
- 9.5 KB