4//SEC Filing
HERBST FREDERICK C 4
Accession 0001104659-18-015975
CIK 0001527590other
Filed
Mar 7, 7:00 PM ET
Accepted
Mar 8, 7:01 PM ET
Size
7.4 KB
Accession
0001104659-18-015975
Insider Transaction Report
Form 4
HERBST FREDERICK C
Chief Financial Officer
Transactions
- Award
Common Stock
2018-03-06+14,439→ 32,795 total
Holdings
- 14,733(indirect: By Sutherland REIT Holdings, LP.)
Common Stock
Footnotes (3)
- [F1]On March 6, 2018, the reporting person was awarded 14,439 restricted shares of common stock under the 2012 Sutherland Asset Management Corporation Equity Incentive Plan. Pursuant to the terms of the award agreement, the 14,439 restricted shares of common stock will vest in equal increments of one-third on March 6, 2019, March 6, 2020, and March 6, 2021. The reporting person will receive dividends on the unvested shares of restricted common stock. The shares of common stock are held through FREDERICK C HERBST & CAROLYN B HERBST JT TEN, a joint tenant account of the reporting person and his wife.
- [F2]These shares represent 14,733 shares of common stock of the Issuer out of the 13,913,400 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.
- [F3]However, Waterfall Management, LLC does not have an economic interest in certain of 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.
Documents
Issuer
Sutherland Asset Management Corp
CIK 0001527590
Entity typeother
Related Parties
1- filerCIK 0001285197
Filing Metadata
- Form type
- 4
- Filed
- Mar 7, 7:00 PM ET
- Accepted
- Mar 8, 7:01 PM ET
- Size
- 7.4 KB