SEC Form 4 · accession 0001104659-16-159814
Ready Capital Corp · RC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frederick C Herbst
Officer — Chief Financial Officer
Period of report
Nov 28, 2016
Accepted (ET)
Nov 30, 2016 · 6:43 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001527590
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Nov 28, 2016 | P | 10,000 | $13.15 | A | 18,356 | D | |
| Common StockF3,F4 | holding | — | — | — | 14,733 | I | By Sutherland REIT Holdings, LP |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The shares of common stock of the Issuer are held through FREDERICK C HERBST & CAROLYN B HERBST JT TEN, a joint tenant account of the Reporting Person and his wife.
- F2The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $13.05 to $13.20, inclusive on November 28, 2016. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
- F3These shares represent 14,733 shares of common stock of the Issuer out of the 13,733,959 total shares of common stock held by Sutherland REIT Holdings, LP (the "Partnership") based on the Reporting Person's percentage ownership in the Partnership. Waterfall Management, LLC, an affiliate of Waterfall Asset Management, LLC, the Issuer's external manager, serves as the general partner of the Partnership and may be deemed to be the beneficial owner of the shares of common stock of the Issuer that are held by the Partnership. In addition, the Reporting Person is a managing director of Waterfall Asset Management, LLC and may be deemed to share voting and investment power over the shares of common stock of the Issuer held by the Partnership.
- F4However, Waterfall Management, LLC does not have an economic interest in these shares and expects to distribute such shares to the beneficial owners of the Partnership upon their request in accordance with the Partnership's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Partnership and the Reporting Person disclaims beneficial ownership of such shares of common stock, except to the extent of the 14,733 shares reported herein, which represents his economic interest in the Partnership.