KRASNOFF JEFFREY P 4

What Happened

• Jeffrey P. Krasnoff, a director of FS Credit Real Estate Income Trust, sold 158,727.442 shares on 2026-06-30 at $23.86 per share for proceeds of $3,787,284 (reported as a sale).
• On 2026-07-01 he received multiple Class I restricted stock unit (RSU) grants (reported as acquisitions/derivatives): 71,346.63 shares (est.) valued at $1,702,352 and 157,164.83 shares (est.) valued at $3,750,000, both at $23.86 per share (values are estimates based on NAV). The filing also shows a disposition to the issuer of 71,346.63 shares (est.) at the same price (reported as a derivative disposition, commonly used for tax withholding).

Key Details

• Transaction dates and prices: 6/30/2026 sale at $23.86; 7/1/2026 RSU grants and issuer disposition at $23.86 (estimated share counts based on NAV).
• Sale proceeds: $3,787,284. RSU award estimated total value: ~$5,452,352.
• Shares owned after transaction: not specified in the excerpt provided; see the full Form 4 for post-transaction holdings.
• Footnotes of note:
  • F1: Krasnoff disclaims beneficial ownership of shares held by Rialto Capital Management, LLC beyond his pecuniary interest.
  • F4–F6: Administrative fee paid in Class I RSUs (1.0% NAV p.a., split between Adviser and Rialto); RSUs convert to Class I common subject to time-based vesting; reported RSU counts are estimates based on most recent NAV and may change.
  • F2–F3: Includes reinvested distributions; JTK RCM, LLC is jointly owned by Krasnoff and his spouse.
• Filing timeliness: Report filed 2026-07-02; transactions occurred 6/30 and 7/1 and were reported within the standard SEC Form 4 timeframe (no late filing flag noted).

Context

• The 7/1 entries are derivative/award transactions (Class I Restricted Stock Units) rather than open-market purchases; RSUs typically vest over time and convert to common shares per the RSU agreement.
• The disposition to the issuer is reported as a derivative disposition — filings like this frequently reflect shares withheld by the issuer to cover taxes on RSU vesting.
• Sales (like the 6/30 open-market sale) are routine insider transactions; awards (RSUs) reflect compensation or fee arrangements and are not direct market purchases.