-
Signature
-
/s/ Sarah Wadsworth, Attorney-in-Fact
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Issuer symbol
-
N/A
-
Transactions as of
-
31 Jan 2022
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Net transactions value
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$0
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Form type
-
4
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Filing time
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31 Jan 2022, 16:03:36 UTC
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 |
|
Operating Partnership Units |
Other |
|
+1,610,730 |
+369% |
|
2,047,831 |
31 Jan 2022 |
Common Stock |
1,610,730 |
|
See footnote |
F1, F2 |
* An asterisk sign (*) next to the price indicates that the price is likely invalid.
Explanation of Responses:
Remarks:
1,610,729.815 Units were issued to the LLC at the direction of Ares Commercial Real Estate Management LLC (the "Advisor") on 1/31/22. The Units were issued by BCI IV Operating Partnership LP (the "Partnership"), a subsidiary of the Issuer, as payment of a portion of the performance participation allocation payable to a subsidiary of the Advisor. The NAV per Unit at the time of the issuance of the Units was $12.5007. The holder of the Units may cause the Partnership to redeem the Units for cash, unless the Issuer's board of directors determines the redemption of the Units for cash would be prohibited by applicable law or the Issuer's charter, in which case the Units will be redeemed for shares of the Issuer's common stock with an equivalent aggregate net asset value. Any such redemption of Units for shares of the Issuer's common stock is expected to be on a one-for-one basis. The Reporting Person disclaims beneficial ownership of the Units issued to the LLC except to the extent of his pecuniary interest therein.