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Filing Details

Accession Number:: 0001200461-24-000009
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-07-12 19:49:03
Reporting Period:: 2024-07-10

Accepted Time:: 2024-07-12 19:49:03
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
2012706	Sunrise Realty Trust Inc.	SUNS	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1200461	M Leonard Tannenbaum	525 Okeechobee Blvd Suite 1650 West Palm Beach FL 33401	Executive Chairman	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2024-07-10	10,000	$8.73	1,270,763	No	4	P	Direct
Common Stock	Acquisiton	2024-07-10	58,958	$10.56	58,958	No	4	P	Indirect	See footnote
Common Stock	Acquisiton	2024-07-11	68,086	$11.49	128,219	No	4	P	Indirect	See footnote

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

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	24,959	Indirect	Held by spouse

Footnotes

Includes 1,260,763 shares received in connection with the spin-off of the Issuer from AFC Gamma, Inc., of which 48,455 shares are restricted shares received in the spin-off from restricted common stock granted under AFC Gamma, Inc. Stock Incentive Plan (the AFCG Plan) and 37,037 shares shall vest over a three-year period with approximately 33% vesting on each of the first, second and third anniversaries of January 2, 2024, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement, and 11,418 shares are restricted shares received in the spin-off from restricted common stock granted under the AFCG Plan on January 3, 2023, with approximately 50% of the remaining restricted shares vesting on each of January 3, 2025 and 2026, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.
This transaction was executed in multiple trades at prices ranging from $8.94 to $11.25; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
These shares are held by the Tannenbaum Family 2012 Trust for benefit of certain members of the Reporting Person's family, for which Jeffrey Boccuzzi is a Co-Trustee. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.
This transaction was executed in multiple trades at prices ranging from $10.85 to $12.54; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
Includes 60,133 shares of common stock received in connection with the spin-off of the Issuer from AFC Gamma, Inc.
These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.
The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.