Lisa Mumford - Dec 27, 2024 Form 4 Insider Report for Ellington Financial Inc. (EFC)

Role
Director
Signature
/s/ Alaael-Deen Shilleh, as attorney-in-fact for Lisa Mumford
Stock symbol
EFC
Transactions as of
Dec 27, 2024
Transactions value $
$0
Form type
4
Date filed
12/30/2024, 04:43 PM
Previous filing
Sep 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EFC Common Stock Award $0 +8.38K +13.19% $0.00 71.9K Dec 27, 2024 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EFC OP LTIP Units Other $0 -8.38K -52.25% $0.00 7.66K Dec 27, 2024 Common Units 8.38K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 27, 2024, Ms. Mumford and Ellington Financial Inc. (the "Company") entered into an Exchange Agreement (the "Exchange Agreement") whereby Ms. Mumford exchanged the 8,378 OP LTIP Units (as defined below) that were granted to her on September 11, 2024 pursuant to, and are subject to the terms and conditions of the Company's 2017 Equity Incentive Plan (the "Plan"), for 8,378 shares of common stock of the Company, $0.001 par value per share (the "Common Shares"). No other consideration was involved in connection with the Exchange Agreement. The Common Shares were also issued pursuant to, and are subject to the terms and conditions of, the Plan. The 8,378 Common Shares remain forfeitable, subject to Ms. Mumford's continued service as a member of the board of directors of the Company, until December 26, 2025.
F2 Represents a separate non-voting class of limited liability company interests ("OP LTIP Units") of Ellington Financial Operating Partnership LLC (the "Operating Partnership"), the operating partnership of the Company.
F3 Ms. Mumford's 7,657 OP LTIP Units remaining vested on September 13, 2024. The OP LTIP Units may be converted at the election of the holder, or at any time at the election of the Company, into limited liability company interests of the Operating Partnership designated as common units ("Common Units") on a one-for-one basis. Subject to certain conditions, the Common Units are redeemable by the holder for an equivalent number of Common Shares or for the cash value of such Common Shares, at the Company's election. The OP LTIP Units were issued pursuant to, and are subject to the terms and conditions of the Company's 2017 Equity Incentive Plan. The rights to convert OP LTIP Units into Common Units and redeem such Common Units do not have expiration dates.