Jack J. Ross - Nov 8, 2021 Form 4 Insider Report for Ready Capital Corp (RC)

Role: President, Director
Signature: /s/ Jack J. Ross
Stock symbol: RC
Transactions as of: Nov 8, 2021
Transactions value $: $0
Form type: 4
Date filed: 11/10/2021, 08:26 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RC	Common Stock	Award		+24.3K	+31.1%		103K	Nov 8, 2021	By Waterfall	F1, F2, F3
holding	RC	Common Stock						155K	Nov 8, 2021	Direct	F4
holding	RC	Common Stock						155K	Nov 8, 2021	By Robin J. Ross 2009 Trust	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On November 8, 2021, the board of the directors of the Issuer approved the issuance of 84,758 shares of Common Stock to Waterfall Asset Management, LLC, its external manager (the "Manager"), as payment of 50% of the incentive distribution payable to the Manager pursuant to the management agreement between the Issuer and the Manager. The 24,345 shares of Common Stock reported on this Form 4 represent the Reporting Person's pro rata ownership of the 84,758 shares based on the Reporting Person's percentage ownership in the Manager.
F2	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.
F3	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.
F4	The Reporting Person owns the shares of Common Stock of the Issuer through the Mr. Jack J. Ross and Mrs. Robin J. Ross JTWROS, a joint tenant account of the Reporting Person and his wife.
F5	The Reporting Person owns the shares of Common Stock of the Issuer through the Robin J. Ross 2009 Trust. The Reporting Person does not serve as the trustee for the trust and the Reporting Person's wife is the trustee and sole beneficiary of the trust. The trustee of the trust has sole voting and investment power with respect to the securities held by the trust.