Form 4: Eagle Point Credit Management Sells ACRES Commercial Realty Corp. Preferred Stock

Eagle Point Credit Management LLC, a 10% owner of ACRES Commercial Realty Corp., has sold shares of its 8.625% Series C Preferred Stock over three days.

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 transactions involve the sale of ACRES Commercial Realty Corp.'s 8.625% Series C Preferred Stock.
• On August 26, 2024, 2,100 shares were sold at $24.91 per share.
• On August 27, 2024, 2,502 shares were sold at $24.91 per share.
• On August 28, 2024, 1,200 shares were sold at $24.92 per share.
• Following these transactions, Eagle Point Credit Management LLC indirectly holds 592,124 shares of the 8.625% Series C Preferred Stock.
• They also indirectly hold 1,015,137 shares of 7.875% Series D Preferred Stock and 1,191,307 shares of Common Stock, $0.001 par value.
• Eagle Point Credit Management LLC disclaims beneficial ownership of the reported securities.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock sales, indicating a neutral sentiment.

Management Comments

• Eagle Point Credit Management LLC disclaims beneficial ownership of the reported securities.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders and significant shareholders.

Stakeholder Impact

• The sale of preferred stock by a major shareholder could potentially influence investor sentiment.

Key Dates