TANNENBAUM LEONARD M 4
4 · Sunrise Realty Trust, Inc. · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Sunrise Realty (SUNS) 10% Owner Leonard Tannenbaum Receives Award
What Happened
Leonard M. Tannenbaum, a 10% owner of Sunrise Realty Trust (SUNS), was granted 13,384 restricted shares on Feb 19, 2026. The grant is recorded at $9.34 per share for a total reported value of $125,007. The Form 4 lists the transaction as an award/acquisition under the issuer’s stock incentive plan (transaction code A).
Key Details
- Transaction date: 2026-02-19; Form 4 filed: 2026-02-23 (appears to be filed after the 2-business-day window required for Section 16 filings).
- Price per share: $9.34; total value reported: $125,007.
- Shares reported: 13,384 restricted shares granted. Shares owned after the transaction are not specified in the filing.
- Vesting: These restricted shares vest roughly one-third on each of the first, second and third anniversaries of January 2, 2026 (see footnote).
- Holdings & ownership disclaimers: Some shares are held by the Tannenbaum Family Foundation, Sunny 5 Irrevocable Trust, and Tannenbaum Family 2012 Trust; the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest (footnotes F2–F5).
Context
This was a restricted stock award (not an open-market buy or sale). Awards typically reflect compensation or long-term incentives and vest over time; because many of the shares are held in family trusts or a foundation and the reporting person disclaims beneficial ownership, this filing may reflect institutional/family holdings rather than a direct personal purchase. The late filing may be a procedural issue — it does not itself indicate trading intent.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-19$9.34/sh+13,384$125,007→ 3,024,610 total
- 585,681(indirect: See footnote)
Common Stock
[F2] - 15,000(indirect: See footnote)
Common Stock
[F3] - 1,000(indirect: By reporting person as UTMA custodian for son)
Common Stock
- 58,958(indirect: See footnote)
Common Stock
[F4] - 46,516(indirect: By Spouse)
Common Stock
[F5]
Footnotes (5)
- [F1]Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall vest over a three-year period with approximately 33% vesting on each of the first, second and third anniversaries of January 2, 2026, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.
- [F2]These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.
- [F3]These shares are held by the Sunny 5 Irrevocable Trust for benefit of certain members of the Reporting Person's family, for which Jeffrey Boccuzzi is a Co-Trustee. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.
- [F4]These shares are held by the Tannenbaum Family 2012 Trust for benefit of certain members of the Reporting Person's family, for which Jeffrey Boccuzzi is a Co-Trustee. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.
- [F5]The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.