4//SEC Filing
Silberstein Andrew Mark 4
Accession 0001209191-12-058364
CIK 0001045425other
Filed
Dec 17, 7:00 PM ET
Accepted
Dec 18, 5:17 PM ET
Size
12.4 KB
Accession
0001209191-12-058364
Insider Transaction Report
Form 4
Transactions
- Award
Series D Cumulative Redeemable Preferred Shares
2012-12-18+1,000,000→ 2,600,000 total(indirect: By LLC)→ Series E Cumulative Redeemable Preferred Shares (1,000,000 underlying) - Award
Common Share Purchase Warrant
2012-12-18+2,482,750→ 6,455,150 total(indirect: By LLC)Exercise: $6.00From: 2012-12-18→ Common Shares of Beneficial Interest (2,482,750 underlying) - Award
Common Share Appreciation Right
2012-12-18+1,683,916.75→ 4,378,183.55 total(indirect: By LLC)Exercise: $6.00→ Common Shares of Beneficial Interest (1,683,916.75 underlying)
Footnotes (6)
- [F1]The Series D Cumulative Redeemable Preferred Shares are exchangeable into the issuer's Series E Cumulative Redeemable Preferred Shares in certain circumstances on a one-for-one basis, and have no expiration date.
- [F2]These securities were issued pursuant to the Securities Purchase Agreement (the "Purchase Agreement") dated as of October 1, 2012 among the issuer, certain subsidiaries of the issuer and ARS VI Investor I, LLC. The purchase price allocated per security is approximately $21.5685 per Series D Cumulative Redeemable Preferred Share, $0.925 per Common Share Purchase Warrant and $0.674 per Common Share Appreciation Right.
- [F3]The reported securities are owned directly by ARS VI Investor I, LLC (the "Investor"), a limited liability company in which the reporting person indirectly holds an equity interest. Pursuant to the Purchase Agreement, the Investor may designate a trustee on the issuer's board of trustees. The deputized trustee of the Investor is the reporting person, who serves on the issuer's board of trustees as the Investor's representative. The reporting person disclaims beneficial ownership of the reported securities except to the extent of the reporting person's pecuniary interest therein.
- [F4]These securities terminate on the earlier of (i) October 1, 2027 unless exercised on or prior to such date or (ii) (x) thirty (30) days following the receipt of notice by the holder thereof of a defined change of control or (y) if later, the date such change of control occurs.
- [F5]The Common Share Appreciation Rights are exercisable commencing on the earlier of October 1, 2014 and the occurrence of a defined change of control.
- [F6]The Common Share Appreciation Rights are settled in cash, not in the registrant's Common Shares of Beneficial Interest.
Documents
Issuer
RAIT Financial Trust
CIK 0001045425
Entity typeother
Related Parties
1- filerCIK 0001559072
Filing Metadata
- Form type
- 4
- Filed
- Dec 17, 7:00 PM ET
- Accepted
- Dec 18, 5:17 PM ET
- Size
- 12.4 KB