Sutherland REIT Holdings, LP - Dec 31, 2022 Form 5 Insider Report for Ready Capital Corp (RC)

Role
10%+ Owner
Signature
/s/ Thomas Capasse, Member
Stock symbol
RC
Transactions as of
Dec 31, 2022
Transactions value $
$0
Form type
5
Date filed
2/14/2023, 07:00 AM
Previous filing
Feb 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RC Common Stock Other $0 -1.76M -13.37% $0.00 11.4M Jul 8, 2022 Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person received a redemption request (the "SRH Redemption Request") from a certain limited partner in respect of certain of its limited partnership interests in the Reporting Person ("SRH Units"). On the date noted in Table I above, the Reporting Person satisfied the SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.
F2 Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.
F3 In addition, each of Thomas Capasse and Jack Ross is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.
F4 Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.