SEC Form 4 · accession 0001104659-17-075693
Ladder Capital Corp · LADR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas Harney
Officer — Head-Merchant Banking & Cap Mk
Period of report
Dec 27, 2017
Accepted (ET)
Dec 29, 2017 · 4:30 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001577670
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1,F2 | Dec 27, 2017 | C | 224,299 | — | A | 456,506 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Units and Class B Common StockF1,F2 | — | Dec 27, 2017 | C | 224,299 | D | — | — | Class A Common Stock | 224,299 | 0 | D |
Explanation of responses
- F1The reporting person converted 224,299 shares of Class B Common Stock ("Class B Common Stock") of Ladder Capital Corp ("LCC") and units of Series REIT and Series TRS of Ladder Capital Finance Holdings LLLP ("units") into 224,299 shares of Class A Common Stock ("Class A Common Stock") of LCC (the "Conversion"). No cash or other consideration was exchanged in connection with the Conversion.
- F2Holders of units and Class B Common Stock may from time to time exchange such units paired with an equal number of shares of Class B Common Stock for shares of Class A Common Stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends, and reclassifications. The units and Class B Common Stock together are convertible at the holder's election at any time, and the conversion right has no expiration date.