4//SEC Filing
Capasse Thomas E 4
Accession 0001104659-18-052002
CIK 0001527590other
Filed
Aug 13, 8:00 PM ET
Accepted
Aug 14, 5:00 PM ET
Size
7.6 KB
Accession
0001104659-18-052002
Insider Transaction Report
Form 4
Capasse Thomas E
DirectorCEO and CIO
Transactions
- Award
Common Stock
2018-08-10+2,333→ 19,709 total(indirect: By Waterfall)
Holdings
- 260,028
Common Stock
Footnotes (4)
- [F1]On 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 2,333 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.
- [F2]These shares represent the 19,709 shares of Common Stock of the Issuer out of the 60,154 and 8,454 total shares of Common Stock owned by the Manager and its affiliate, 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 of direct ownership interests in Waterfall.
- [F3]WM serves as the general partner of 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 13,741,454 shares of Common Stock held by the Partnership.
- [F4]However, WM does not have an economic interest in 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, WM 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 19,709 shares reported herein, which represents his economic interest in the Manager, including through the Manager's ownership of the Partnership.
Documents
Issuer
Sutherland Asset Management Corp
CIK 0001527590
Entity typeother
Related Parties
1- filerCIK 0001469065
Filing Metadata
- Form type
- 4
- Filed
- Aug 13, 8:00 PM ET
- Accepted
- Aug 14, 5:00 PM ET
- Size
- 7.6 KB