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.'s preferred 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 the sale of 8.625% Series C Preferred Stock on August 16, 19, and 20, 2024.
• After these transactions, EPCM and DIF GP indirectly beneficially own 607,911, 604,792, and 603,495 shares of the 8.625% Series C Preferred Stock respectively.
• They also indirectly beneficially own 1,019,330 shares of 7.875% Series D Preferred Stock and 1,191,307 shares of Common Stock, $0.001 par value.
• 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 routine regulatory filing, so the sentiment is neutral. It simply reports transactions without expressing any positive or negative outlook.

Management Comments

• Each of the Reporting Persons hereby disclaims beneficial ownership of the securities described in this report pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934 and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of any of the reported securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's securities. This filing provides transparency into the transactions of Eagle Point Credit Management LLC, a major shareholder of ACRES Commercial Realty Corp.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for individuals and entities deemed insiders by the SEC.
• Similar filings are made by insiders of comparable companies such as Blackstone Mortgage Trust (BXMT) and Starwood Property Trust (STWD) when they engage in transactions involving their company's securities.
• The level of detail provided in this Form 4 is consistent with industry standards for such filings.

Stakeholder Impact

• The transactions reported may influence investor sentiment regarding ACRES Commercial Realty Corp.

Key Dates