Adam Zausmer - Feb 12, 2023 Form 4 Insider Report for Ready Capital Corp (RC)

Signature
/s/ Misbah Mohiuddin, Attorney-in-Fact
Stock symbol
RC
Transactions as of
Feb 12, 2023
Transactions value $
-$85,020
Form type
4
Date filed
2/14/2023, 07:24 PM
Previous filing
Feb 15, 2022
Next filing
Jan 11, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RC Common stock Award $0 +30.8K +75.84% $0.00 71.5K Feb 12, 2023 Direct F1
transaction RC Common stock Tax liability -$68.4K -5.27K -7.38% $12.98 66.2K Feb 12, 2023 Direct F2, F3
transaction RC Common stock Tax liability -$16.6K -1.25K -1.89% $13.25 64.9K Feb 13, 2023 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 12, 2023, the reporting person was awarded 30,817 Restricted Stock Units ("RSUs") under the 2013 Ready Capital Corporation Equity Incentive Plan, which represent the right to receive one share of Common Stock of the Issuer for each RSU at vesting. Pursuant to the terms of the award agreement, the RSUs will vest in equal installments of one-third on February 12, 2024, February 12, 2025 and February 12, 2026. The reporting person will receive dividend equivalent rights on unvested RSUs from the grant date payable in cash in an amount equal to the cash dividend distributions paid on a share of Common Stock of the Issuer.
F2 Consists of shares of Common Stock withheld by the Issuer, with approval of the Issuer's Board of Directors, in order to satisfy the tax withholding obligation of the reporting person in connection with the vesting of shares of Common Stock.
F3 Represents the closing price of the Common Stock on February 10, 2023.
F4 Represents the closing price of the Common Stock on February 13, 2023.