Herlihy John 4
4 · Ellington Financial Inc. · Filed Dec 19, 2022
Insider Transaction Report
Form 4
Herlihy John
Chief Financial Officer
Transactions
- Award
OP LTIP Units
2022-12-15+19,909→ 84,675 total→ Common Units (19,909 underlying)
Footnotes (3)
- [F1]Represents a separate non-voting class of limited liability company interests ("OP LTIP Units") of Ellington Financial Operating Partnership LLC (the "Operating Partnership"), the operating partnership subsidiary of Ellington Financial Inc. (the "Company").
- [F2]9,955 of the OP LTIP Units will vest on December 15, 2023 and the remaining 9,954 of the OP LTIP units will vest December 15, 2024. The OP LTIP Units may be converted, upon lapse of the vesting restrictions described above, at the election of the holder, or at any time at the election of the Company, into limited liability company interests of the Operating Partnership designated as common units ("Common Units") on a one-for-one basis. Subject to certain conditions, the Common Units are redeemable by the holder for an equivalent number of shares of common stock of the Company, $0.001 par value per share ("Common Shares") or for the cash value of such Common Shares, at the Company's election. The OP LTIP Units were issued pursuant to, and are subject to the terms and conditions of, the Company's 2017 Equity Incentive Plan (the "2017 Plan").
- [F3]11,094 of these OP LTIP Units will vest on December 16, 2023.