TANNENBAUM LEONARD M 4

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.