SEC Form 4 · accession 0001104659-18-052005
Ready Capital Corp · RC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas Buttacavoli
Officer — Chief Investment Officer
Period of report
Aug 10, 2018
Accepted (ET)
Aug 14, 2018 · 5:02 pm EDT
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 | Aug 10, 2018 | A | 699 | — | A | 5,908 | I | By Waterfall |
| Common StockF3 | holding | — | — | — | 80,950 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On August 10, 2018, the board of the directors of the Issuer approved the issuance of 8,123 shares of Common Stock to Waterfall Asset Management, LLC, its external manager (the "Manager"), as payment of 50% of the incentive distribution payable to the Manager pursuant to the management agreement between the Issuer and the Manager. The 699 shares of Common Stock reported on this Form 4 represent the Reporting Person's pro rata ownership of the 8,123 shares based on the Reporting Person's percentage ownership in the Manager.
- F2These shares represent the 5,908 shares of Common Stock of the Issuer out of the 60,154 and 8,454 total shares of Common Stock held by the Manager and Waterfall Management, LLC ("WM" and together with the Manager, "Waterfall"), respectively, including through each entity's ownership of Sutherland REIT Holdings, LP (the "Partnership") based on the Reporting Person's percentage ownership in Waterfall. The Reporting Person disclaims beneficial ownership of the shares held by Waterfall, except to the extent of his economic interest therein.
- F3Includes 64,723 shares of Common Stock previously held indirectly through the Reporting Person's ownership of the Partnership as reported in a Form 4 filed by the Reporting Person on May 18, 2018, which are held directly by the Reporting Person on the date hereof.