Thomas E. Capasse - Nov 8, 2021 Form 4 Insider Report for Ready Capital Corp (RC)

Role
Chief Executive Officer, Director
Signature
/s/ Thomas E. Capasse
Stock symbol
RC
Transactions as of
Nov 8, 2021
Transactions value $
$0
Form type
4
Date filed
11/10/2021, 08:29 PM
Next filing
Dec 2, 2021

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 310K Nov 8, 2021 Direct
holding RC Common Stock 26.6K Nov 8, 2021 By Edward J. Capasse Revocable Trust F4
* 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 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.