Form 4: Yakira Capital Sells Seritage Preferred Shares

Yakira Capital Management, a 10% owner of Seritage Growth Properties, reported the sale of 9,600 preferred shares over two days in late February 2026.

Summary

• Yakira Capital Management, Inc., identified as a 10% owner of Seritage Growth Properties [SRG-PA], reported changes in its beneficial ownership.
• The reporting person disposed of 7,375 shares of 7.00% Series A Cumulative Redeemable Preferred Shares on February 23, 2026, at a price of $23.95 per share.
• An additional 2,225 shares of the same preferred stock were sold on February 24, 2026, at a price of $24.0963 per share.
• These transactions were made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following these transactions, Yakira Capital Management, Inc. beneficially owns 284,768 shares of the 7.00% Series A Cumulative Redeemable Preferred Shares indirectly.
• The beneficial ownership is held through Yakira Partners, L.P., Yakira Enhanced Offshore Fund Ltd., and MAP 136 Segregated Portfolio, for which Yakira Capital Management, Inc. serves as investment advisor with sole voting and investment discretion.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a moderately negative signal due to the sale of preferred shares by a significant owner, though the pre-planned nature of the transaction (10b5-1) suggests it may not be based on new, adverse information.

Positives

• The transactions were executed under a Rule 10b5-1 plan, indicating they were pre-scheduled and not necessarily based on new, non-public information.

Negatives

• Yakira Capital Management, Inc., a 10% owner, reduced its beneficial ownership of Seritage Growth Properties' 7.00% Series A Cumulative Redeemable Preferred Shares by selling a total of 9,600 shares.

Future Outlook

No future outlook or guidance is provided in this Form 4 filing.

Management Comments

• Yakira Capital Management, Inc. serves as investment advisor to Yakira Partners, L.P., Yakira Enhanced Offshore Fund Ltd., and MAP 136 Segregated Portfolio, and has sole voting and investment discretion with respect to the securities reported.
• The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Reporting Person is the beneficial owner of the securities reported herein for the purpose of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose, except to the extent of Reporting Person's pecuniary interest therein.

Industry Context

StockSavvy.ai notes that insider sales, particularly by a 10% owner, are often scrutinized by the market for potential signals regarding the company's future prospects or valuation. While the 10b5-1 plan mitigates some of the immediate negative interpretation, investors typically monitor such transactions closely.

Stakeholder Impact

• Shareholders may interpret the sale by a significant owner as a negative signal, potentially impacting investor confidence in Seritage Growth Properties.

Key Dates

Recommendation

The sale of preferred shares by a 10% owner, Yakira Capital Management, is generally a negative signal. However, the transaction was executed under a Rule 10b5-1 plan, suggesting it was pre-scheduled and not necessarily driven by new, adverse information. Investors should monitor future insider activity and company performance for further insights before making a definitive buy or sell decision.

Keywords

Seritage Growth Properties, SRG-PA, Yakira Capital Management, Form 4, insider trading, preferred shares, beneficial ownership, stock sale, 10b5-1 plan