Form 4: Ready Capital Corp Executive Ahlborn Acquires and Disposes of Shares Following PSU Vesting
SEC Form 4 Filing
Andrew Ahlborn, Chief Financial Officer of Ready Capital Corp, reports acquisition and disposal of common stock related to the vesting of performance stock units (PSUs) on February 3, 2025.
Summary
- On February 3, 2025, Andrew Ahlborn, the Chief Financial Officer of Ready Capital Corp, acquired 148,368 shares of common stock through the vesting of performance stock units (PSUs) under the company's 2013 Equity Incentive Plan.
- Two-thirds of the PSUs converted to fully vested shares, while the remaining one-third converted to restricted shares that will vest on December 31, 2025, contingent upon continued service.
- Simultaneously, Ahlborn disposed of 48,122 shares to cover tax withholding obligations related to the vesting, at a price of $6.58 per share.
- Following these transactions, Ahlborn directly owns 216,999 shares of Ready Capital Corp common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation.
Future Outlook
The remaining one-third of the PSUs earned converted to restricted shares of Common Stock on February 3, 2025, which will vest on December 31, 2025, subject to the reporting person's continued service with the Issuer on such date, subject to certain exceptions.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| 02/03/2025 | Date of earliest transaction: PSU vesting, stock acquisition and disposal for tax withholding. |
| 02/03/2025 | Two-thirds of PSUs converted to fully vested shares. |
| 12/31/2025 | Remaining one-third of PSUs convert to restricted shares, vesting subject to continued service. |
| 02/05/2025 | Date of signature on the Form 4 filing. |
Keywords
Ready Capital Corp, Andrew Ahlborn, CFO, Form 4, Beneficial Ownership, PSU, Stock Vesting, Tax Withholding, RC
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