Gordon Peter 4

What Happened

• Peter Gordon, a director of AB Commercial Real Estate Private Debt Fund, LLC, reported a purchase-type transaction tied to a capital call. The Form 4 shows an acquisition code (P) but records 0 public shares at $0.00 because the filing documents a capital contribution obligation rather than issuance of tradable shares. Mr. Gordon is obligated to contribute $15,000 on or about April 1, 2026; the Fund will issue limited liability company units in return once the contribution is funded. The exact number of Units to be issued is not yet determined and will be reported in an amended Form 4.

Key Details

• Transaction date: March 25, 2026 (capital call notice issued); Form 4 filed March 27, 2026.
• Form entry: Open market/private purchase (P) showing 0 shares at $0.00 (reflects pending private-unit issuance).
• Cash commitment: $15,000 due on or around April 1, 2026, for issuance of LLC Units.
• Shares/Units owned after transaction: Unknown at filing — the filer will amend once unit count is determined.
• Footnotes: F1 explains the $15,000 capital call and pending unit issuance; F2 notes 205.904 Units included from a dividend reinvestment plan (DRIP).
• Timeliness: Filing appears timely (transaction 3/25, Form 4 filed 3/27).

Context

• This is a private-fund capital contribution, not a public stock trade. Because the unit count and issuance are pending, the Form 4 reports the obligation rather than newly issued units. Such filings inform investors about insiders' continuing investment in a private fund but do not provide immediate market-price signals for public securities. The filer will update the Form 4 once units are issued and the exact ownership change is known.