Home > Insider Trading > Filing (0001104659-21-145934)

Filing Details

Accession Number:: 0001104659-21-145934
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-12-02 16:31:08
Reporting Period:: 2021-11-30

Accepted Time:: 2021-12-02 16:31:08
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1527590	Ready Capital Corp	RC	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1469065	E Thomas Capasse	1251 Avenue Of The Americas 50Th Floor New York NY 10020	Chief Executive Officer	Yes	Yes	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
6.50% Series E Cumulative Redeemable Preferred Stock	Acquisiton	2021-11-30	20,000	$24.59	20,000	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	102,630	Indirect	By Waterfall
Common Stock	309,925	Direct
Common Stock	26,623	Indirect	By Edward J. Capasse Revocable Trust

Footnotes

The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $24.55 to $24.71, inclusive on November 30, 2021. 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.
Upon the occurrence of a Change of Control (as defined in the Articles Supplementary relating to the Series E Preferred Stock) of the Issuer, the Reporting Person will have the right to convert the shares of Series E Preferred Stock into a number of shares of common stock of the Issuer per share of Series E Preferred Stock equal to the lesser of (A) the quotient obtained by dividing (i) the sum of (x) the $25.00 liquidation preference plus (y) the amount of any accrued and unpaid dividends by (ii) the Common Stock Price (as defined in the Articles Supplementary relating to the Series E Preferred Stock) and (B) 3.2916, subject to certain adjustments indicated in the Articles Supplementary relating to the Series E Preferred Stock.
These shares represent the 102,630 shares of Common Stock of the Issuer out of the 341,428 and 8,869 total shares of Common Stock owned by the Manager and its affiliate, Waterfall Management, LLC ("WM" and together with the Manager, "Waterfall"), respectively, based on the Reporting Person's percentage of direct ownership interests in Waterfall.
WM serves as the general partner of Sutherland REIT Holdings, LP (the "Partnership") and may be deemed to be the beneficial owner of the shares of Common Stock that are held by the Partnership. In addition, the Reporting Person is a principal of the Manager and may be deemed to share voting and investment power over the 13,195,300 shares of Common Stock held by the Partnership.
These shares are held in a trust for the benefit of the Reporting Person's father. The Reporting Person's father is trustee of the trust. The Reporting Person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.