Ahlborn Andrew 4
4 · Ready Capital Corp · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Ready Capital (RC) CFO Andrew Ahlborn Receives Awards
What Happened
- Andrew Ahlborn, Chief Financial Officer of Ready Capital Corp (RC), received equity awards totaling 2,691,262 units: 600,000 restricted shares (special time‑based retention award, March 2, 2026), 1,800,000 performance‑based restricted stock units (PSUs, March 2, 2026), and 291,262 restricted shares (March 5, 2026). All awards were granted at $0.00 per share (compensation awards, not purchases), so the reported acquisition value is $0.
- The restricted shares and PSUs are subject to vesting conditions (time and/or performance) described below; these are compensation grants rather than open‑market purchases or sales.
Key Details
- Transaction dates and reported prices: Mar 2, 2026 — 600,000 restricted shares @ $0.00; Mar 2, 2026 — 1,800,000 PSUs @ $0.00; Mar 5, 2026 — 291,262 restricted shares @ $0.00.
- Total units awarded: 2,691,262 (total reported acquisition value $0).
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Notable footnotes:
- 600,000 restricted shares vest Dec 31, 2028, subject to continued employment (with certain exceptions).
- 291,262 restricted shares vest in three equal installments on Mar 5 of 2027, 2028 and 2029, subject to continued employment.
- 1,800,000 PSUs vest in up to ten roughly equal tranches tied to 30‑day VWAP milestones and continued employment; each PSU pays one share (or cash).
- PSUs will be settled in shares if shareholders approve a Plan amendment at the 2026 annual meeting increasing the share pool; if not approved, PSUs will be cash‑settled based on per‑share value at vesting.
- Filing timeliness: Form 4 was filed on Mar 9, 2026 reporting transactions on Mar 2 and Mar 5; this appears outside the typical two‑business‑day Form 4 filing window.
Context
- These are awards/compensation grants (A on Form 4), not purchases or sales — they represent potential future equity subject to vesting and performance conditions and do not indicate an immediate cash outlay by the insider.
- PSUs are derivative, contingent awards: vesting depends on stock‑price milestones and continuing employment, and settlement may be in shares or cash depending on shareholder approval of the Plan amendment.
Insider Transaction Report
Form 4
Ahlborn Andrew
Chief Financial Officer
Transactions
- Award
Common Stock
[F1]2026-03-02+600,000→ 910,808 total - Award
Common Stock
[F2]2026-03-05+291,262→ 1,202,070 total - Award
Performance Stock Units
[F3][F4]2026-03-02+1,800,000→ 1,800,000 total→ Common Stock (1,800,000 underlying)
Footnotes (4)
- [F1]On March 2, 2026, the reporting person was awarded a special time-based retention award of 600,000 shares of restricted Common Stock under the Plan. The shares will vest on December 31, 2028, conditioned upon the reporting person's continued employment (with certain exceptions).
- [F2]On March 5, 2026, the reporting person was awarded 291,262 shares of restricted Common Stock under the Ready Capital Corporation 2023 Equity Incentive Plan (the "Plan"). The shares will vest in equal installments of one-third on March 5, 2027, March 5, 2028 and March 5, 2029, conditioned upon the reporting person's continued employment (with certain exceptions).
- [F3]Each performance stock unit represents a contingent right to receive one share of Common Stock (or an equivalent cash payment, as further described in footnote (4) below).
- [F4]On March 2, 2026, the reporting person was awarded a special performance-based retention award of 1,800,000 performance-based restricted stock units ("PSUs") under the Plan. The PSUs may vest in up to ten, approximately equal parts, provided that the 30-day volume weighted average price of the Common Stock equals or exceeds ten, approximately equally spaced milestones between specified points, and further conditioned upon the reporting person's continued employment (with certain exceptions). The PSUs (i) will be settled in shares of Common Stock if the stockholders of the Company approve at the 2026 annual meeting of stockholders ("2026 Annual Meeting") an amendment to the Plan to increase the pool of shares available for grant thereunder (the "Plan Amendment"), or (ii) if the Plan Amendment is not approved by the Company's stockholders at the 2026 Annual Meeting, then the PSUs will be settled in cash based upon the value per share of Common Stock on the applicable vesting date.
Signature
/s/ Misbah Mohiuddin, Attorney-in-Fact|2026-03-09