Chris Smernoff - 16 Dec 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
Issuer symbol
EFC
Transactions as of
16 Dec 2021
Net transactions value
$0
Form type
4
Filing time
20 Dec 2021, 15:11:18 UTC
Next filing
19 Dec 2022
SEC
View on sec.gov

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 +9,391 +25% $0.000000 46,412 16 Dec 2021 Common Units 9,391 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.