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

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

Summary

• Eagle Point Credit Management LLC (EPCM) and Eagle Point DIF GP I LLC (DIF GP) filed a Form 4 detailing changes in beneficial ownership of ACRES Commercial Realty Corp. securities.
• The transactions involve sales of 8.625% Series C Preferred Stock on October 30 and 31, 2024.
• On October 30, 2024, 2,394 shares were sold at $24.91 per share.
• On October 31, 2024, 10,000 shares were sold at $24.92 per share.
• Following these transactions, EPCM and DIF GP indirectly beneficially own 486,897 shares of 8.625% Series C Preferred Stock, 921,078 shares of 7.875% Series D Preferred Stock, and 1,191,307 shares of Common Stock.
• The reporting persons disclaim beneficial ownership of the securities, stating that the inclusion of these securities in the report should not be deemed an admission of beneficial ownership.

Sentiment

Score: 5

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

Management Comments

• EPCM and DIF GP disclaim beneficial ownership of the reported securities.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders, providing transparency to the market regarding their transactions in the company's securities.

Stakeholder Impact

• Shareholders are informed about the transactions of significant stakeholders.
• The market receives updated information on the ownership structure of ACRES Commercial Realty Corp.

Key Dates