E. Donald Gulbrandsen - Dec 31, 2022 Form 4 Insider Report for Chicago Atlantic Real Estate Finance, Inc. (REFI)

Role: Director
Signature: /s/ Donald Gulbrandsen
Stock symbol: REFI
Transactions as of: Dec 31, 2022
Transactions value $: $0
Form type: 4
Date filed: 1/4/2023, 07:38 PM
Previous filing: Dec 10, 2021
Next filing: Apr 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	REFI	Common Stock	Award	$0	+4.98K	+0.59%	$0.00	847K	Dec 31, 2022	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	On December 31, 2022, Mr. Gulbrandsen was awarded 4,976 restricted shares of common stock under the Chicago Atlantic Real Estate Finance, Inc. 2021 Omnibus Incentive Plan. Pursuant to the terms of the award agreement, the 4,976 restricted shares of common stock will vest over a three year period, with one-third of the restricted stock vesting after 12 months, 24 months and 36 months, respectively.
F2	Includes 836,970 shares distributed by Chicago Atlantic Management, LLC and Chicago Atlantic CRE Manager, LLC, the managing members of Chicago Atlantic Fund QP, LLC and Chicago Atlantic CRE Holdings, LLC, respectively, in connection with the distribution of shares of Chicago Atlantic Real Estate Finance, Inc. held by Chicago Atlantic Fund QP, LLC and Chicago Atlantic CRE Holdings, LLC to their members pursuant to the terms of their respective operating agreements for no consideration.

Content

On December 31, 2022, Mr. Gulbrandsen was awarded 4,976 restricted shares of common stock under the Chicago Atlantic Real Estate Finance, Inc. 2021 Omnibus Incentive Plan. Pursuant to the terms of the award agreement, the 4,976 restricted shares of common stock will vest over a three year period, with one-third of the restricted stock vesting after 12 months, 24 months and 36 months, respectively.

Includes 836,970 shares distributed by Chicago Atlantic Management, LLC and Chicago Atlantic CRE Manager, LLC, the managing members of Chicago Atlantic Fund QP, LLC and Chicago Atlantic CRE Holdings, LLC, respectively, in connection with the distribution of shares of Chicago Atlantic Real Estate Finance, Inc. held by Chicago Atlantic Fund QP, LLC and Chicago Atlantic CRE Holdings, LLC to their members pursuant to the terms of their respective operating agreements for no consideration.