RAIT Financial Trust 4
4 · RAIT Financial Trust · Filed Jun 28, 2017
Insider Transaction Report
Form 4
Transactions
- Disposition to Issuer
Series D Cumulative Redeemable Preferred Shares
2017-06-26−402,280→ 3,133,720 total→ Series E Cumulative Redeemable Preferred Shares (402,280 underlying)
Footnotes (3)
- [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 repurchased by the issuer pursuant to the Securities Repurchase Agreement dated as of June 22, 2017 (the "Repurchase Agreement") among the issuer, certain subsidiaries of the issuer and the reporting person. The purchase price per Series D Cumulative Redeemable Preferred Share in the Repurchase Agreement was $25.00 per share.
- [F3]The reported securities are owned directly by the reporting person, a limited partnership. Andrew M. Silberstein, a trustee of the issuer, indirectly holds an equity interest in the reporting person and serves as the deputized trustee of the reporting person serving on the issuer's board of trustees as the reporting person's representative. See Remarks section. The reporting person converted from a limited liability company into a limited partnership on December 31, 2013. Prior to the conversion, the reporting person was known as ARS VI Investor I, LLC.