SEC Form 4 · accession 0001346979-17-000001
IMH Financial Corp · [NONE]
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lawrence D Bain
Officer — CEO · Director
Period of report
Jan 24, 2017
Accepted (ET)
Jan 26, 2017 · 2:24 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001397403
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, Par Value $0.01F1 | Jan 24, 2017 | F | 196,278 | $1.72 | D | 703,722 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The shares were redeemed by IMH Financial Corporation (the "Company"), upon the approval of the Compensation Committee of the Board of Directors of the Company, pursuant to an election made by Mr. Bain under Section 83(b) of the Internal Revenue Code of 1986 and the Restricted Stock Award Agreement entered into between Mr. Bain and the Company, dated June 1, 2015, pursuant to which the parties agreed to make arrangements for the satisfaction of tax withholding requirements associated with the stock award.