April Rand Scott 4

What Happened
April Rand Scott, a director of Ares Commercial Real Estate Corporation (ACRE), received a grant of 18,879 restricted common shares on April 29, 2026. The shares were reported at $0.00 (award/grant) on the Form 4; they are restricted stock rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-29 (reported on Form 4 filed 2026-05-01).
• Transaction type/code: Award/Grant (Code A). Price reported: $0.00.
• Shares granted: 18,879 restricted shares.
• Shares owned after transaction: 43,575 shares (includes 24,696 shares previously owned per prior Form 4).
• Vesting: Shares vest ratably on a quarterly basis over one year, beginning the first business day of the fiscal quarter on July 1, 2026 (per footnote).
• Ownership vehicle: Some common stock is held by the April Family 2013 Living Trust, of which the reporting person is a trustee (per footnote).
• Filing timeliness: Report filed May 1, 2026 for an April 29, 2026 transaction (no late filing indicated on the form).

Context
This was an equity compensation grant (restricted stock) to a director—not an open-market purchase or sale. Restricted grants are common for director compensation and vest over time; they do not necessarily signal a new investment decision by the insider. The Form 4 reports the award amount and vesting terms but shows no cash exchanged at grant.