KRASNOFF JEFFREY P 4
4 · FS Credit Real Estate Income Trust, Inc. · Filed Apr 3, 2026
Research Summary
AI-generated summary of this filing
FS Credit Director Jeffrey Krasnoff Receives $5.38M in Stock Awards
What Happened
Jeffrey P. Krasnoff, a director of FS Credit Real Estate Income Trust, was the recipient of equity awards on April 1, 2026. The Form 4 reports two acquisitions: 68,231.184 shares acquired at $23.88 each (value $1,629,449) and 157,026.628 shares reported as a derivative acquisition at $23.88 each (value $3,750,000). Total reported value of the transactions is approximately $5,379,449. These were awards/acquisitions (not open-market purchases or sales).
Key Details
- Transaction date: April 1, 2026; Filing date: April 3, 2026 (appears timely). Price reported: $23.88 per share for both entries.
- Shares acquired: 68,231.184 (direct acquisition) + 157,026.628 (derivative security) = 225,257.812 total shares/units reported.
- Shares owned after transaction: Not specified in this Form 4.
- Notable footnotes:
- F4/F5 — Awards are Class I Restricted Stock Units (RSUs) issued under the Adviser agreement; RSUs are to be exchanged for Class I common stock and are subject to time‑based vesting. The RSUs relate to an administrative services fee (1.0% of NAV), paid in RSUs and split 50/50 between the Adviser and Rialto Capital Management LLC.
- F1 — Krasnoff disclaims beneficial ownership of shares held by Rialto Capital Management, LLC beyond his pecuniary interest.
- F2 — Includes shares from reinvested distributions.
- F3 — JTK RCM, LLC is jointly owned by Krasnoff and his spouse.
Context
The larger tranche is recorded as a derivative (RSUs), meaning those units are subject to vesting and are not immediately tradeable common shares. Awards and RSUs generally reflect compensation or fee arrangements rather than open‑market insider “buys,” so they do not necessarily signal new personal investment intent. The filing notes relationships with Rialto Capital Management and the Adviser that affect how beneficial ownership is reported.
Insider Transaction Report
- Award
Class I Common Stock
[F1]2026-04-01$23.88/sh+68,231.184$1,629,449→ 544,414.626 total(indirect: By LLC) - Award
Class I Restricted Stock Units
[F4][F5][F1]2026-04-01$23.88/sh+157,026.628$3,750,000→ 1,978,945.96 total(indirect: By LLC)→ Class I Common Stock (157,026.628 underlying)
- 23,131.99(indirect: By LLC)
Class I Common Stock
[F2][F3] - 38,882.317(indirect: By LLC)
Class F Common Stock
[F2][F3]
Footnotes (5)
- [F1]The reporting person disclaims beneficial ownership of any shares held by Rialto Capital Management, LLC that exceed his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
- [F2]Includes shares received on account of reinvested distributions.
- [F3]JTK RCM, LLC is jointly owned by reporting person and his spouse.
- [F4]In accordance with the Advisory Agreement between the Company and the Adviser, the Company shall pay the Adviser an administrative services fee equal to 1.0% of the Company's net asset value per annum, payable quarterly, in Class I Restricted Stock Units, subject to the terms and conditions set forth in the Class I Restricted Stock Unit Agreement (as amended) between the Company and the Adviser. The administrative services fee is split 50/50 between the Adviser and Rialto Capital Management LLC.
- [F5]In accordance with the Class I Restricted Stock Unit Agreement (as amended) between the Company, the Adviser and Rialto Capital Management, LLC, Class I Restricted Stock Units shall be exchanged for Class I Common, subject to time based vesting.