RESSLER RICHARD S 4

What Happened

• Richard S. Ressler (reported as a 10% owner and, by footnote, associated with the issuer’s CEO role) reported the vesting and settlement of restricted stock units (RSUs) tied to the issuer’s Manager. On June 30, 2026, 354,800.387 RSUs vested. Per plan terms, each vested RSU was settled 50% in shares and 50% in cash: the Manager received 177,400.194 shares (the 50% share portion) and cash equal to the value of the other 177,400.193 RSUs. The Manager then distributed the 177,400.194 shares to certain employees and/or other persons affiliated with the Manager. No open‑market purchase or sale by Ressler is shown; the transactions reflect RSU settlement and downstream distributions.

Key Details

• Transaction date: June 30, 2026.
• Transactions reported: Conversion/exercise of derivative (code M) for 177,400.194 shares acquired and 354,800.388 RSU-equivalent shares disposed (reported at $0.00 for the cash-settled portion); other acquisition/disposition (code J) showing 177,400.194 shares disposed (distribution to employees/affiliates).
• Price/value: Shares issued at settlement; the cash portion (50%) was paid but dollar amount is not disclosed in the Form 4.
• Shares owned after transaction: The reported shares are owned directly by CIM Real Estate Finance Management, LLC (the Manager). Ressler may be deemed to beneficially own such shares due to his role but disclaims beneficial ownership except for any indirect pecuniary interest.
• Notable footnotes: Remaining unvested RSUs from multiple grants remain outstanding and vest on future dates (see filing footnotes for schedules). The Manager distributed the 177,400.194 shares to employees/affiliates (footnote F3).
• Filing timeliness: No late filing indicated in the report.

Context

• These entries reflect RSU vesting and settlement (derivative conversion and cash settlement), not open-market buying or selling by the individual insider. The Manager received a mix of stock and cash as described (50/50 settlement), and the shares issued were reallocated by the Manager to employees/affiliates. For retail investors, such vesting/distribution events are routine compensation settlements and do not necessarily signal the insider’s personal buying/selling intent.