SEC Form 4 · accession 0001209191-16-153935
RAIT Financial Trust · RAS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Period of report
Dec 7, 2016
Accepted (ET)
Dec 7, 2016 · 5:08 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001045425
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series D Cumulative Redeemable Preferred SharesF2,F3,F1 | — | Dec 7, 2016 | D | 464,000 | D | — | — | Series E Cumulative Redeemable Preferred Shares | 464,000 | 3,536,000 | I |
Explanation of responses
- F1The Series D Cumulative Redeemable Preferred Shares are exchangeable into the issuer's Series E Cumulative Redeemable Preferred Shares in certain circumstances on a one-for-one basis, and have no expiration date.
- F2These securities were repurchased by the issuer pursuant to the Securities Repurchase Agreement dated as of November 23, 2016 (the "Repurchase Agreement") among the issuer, certain subsidiaries of the issuer and ARS VI Investor I, LP (the "Investor"). The purchase price per Series D Cumulative Redeemable Preferred Share in the Repurchase Agreement was $25.00 per share.
- F3The reported securities are owned directly by the Investor, a limited partnership in which the reporting person indirectly holds an equity interest. The Investor converted from a limited liability company into a limited partnership on December 31, 2013. Prior to the conversion, the Investor was known as ARS VI Investor I, LLC. Pursuant to the Securities Purchase Agreement dated as of October 1, 2012 among the Investor, the issuer and certain subsidiaries of the issuer, the Investor may designate a trustee on the issuer's board of trustees. The deputized trustee of the Investor is the reporting person, who serves on the issuer's board of trustees as the Investor's representative. The reporting person disclaims beneficial ownership of the reported securities except to the extent of the reporting person's pecuniary interest therein.