Chris Smernoff - Dec 16, 2021 Form 4 Insider Report for Ellington Financial Inc. (EFC)

Role
Chief Accounting Officer
Signature
/s/ Jason Frank, as attorney-in-fact for Christopher Smernoff
Stock symbol
EFC
Transactions as of
Dec 16, 2021
Transactions value $
$0
Form type
4
Date filed
12/20/2021, 03:11 PM
Next filing
Dec 19, 2022

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 Award $0 +9.39K +25.37% $0.00 46.4K Dec 16, 2021 Common Units 9.39K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 Ellington Financial Inc. (the "Company").
F2 4,696 of the OP LTIP Units will vest on December 16, 2022 and the remaining 4,695 of the OP LTIP units will vest on December 16, 2023. The OP LTIP Units may be converted, upon lapse of the vesting restrictions described above, 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 shares of common stock of the Company, $0.001 par value per share ("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 "2017 Plan").
F3 4,992 of the OP LTIP units will vest on December 17, 2022.