Form 4: Eagle Point Credit Management LLC Reports Changes in Beneficial Ownership of ACRES Commercial Realty Corp.

Eagle Point Credit Management LLC reports transactions in ACRES Commercial Realty Corp. preferred and common stock, disclaiming beneficial ownership.

Summary

• Eagle Point Credit Management LLC, along with Eagle Point DIF GP I LLC, filed a Form 4 detailing changes in beneficial ownership of ACRES Commercial Realty Corp. securities.
• The report indicates transactions involving 8.625% Series C Preferred Stock and 7.875% Series D Preferred Stock on December 26 and 27, 2024.
• On December 26, 2024, 420 shares of 8.625% Series C Preferred Stock were disposed of at a price of $25.2.
• On December 27, 2024, 1 share of 8.625% Series C Preferred Stock was disposed of at a price of $25.2.
• On December 27, 2024, 2,820 shares of 7.875% Series D Preferred Stock were disposed of at a price of $23.05.
• The report also mentions indirect beneficial ownership of common stock, with 1,191,307 shares held.
• Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC disclaim beneficial ownership of the reported securities.
• Kenneth P. Onorio, Chief Financial Officer, signed the report on behalf of both entities on December 30, 2024.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Management Comments

• Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC disclaim beneficial ownership of the reported securities.

Industry Context

Form 4 filings are standard practice for entities with significant holdings in publicly traded companies, providing transparency into their transactions and ownership positions.

Stakeholder Impact

• Shareholders are informed about changes in ownership by a significant holder.
• The filing provides transparency regarding the transactions of Eagle Point Credit Management LLC.

Key Dates