Eagle Point trims ACR Series D preferred; indirect holdings remain material

Rhea-AI Filing Summary

Eagle Point Credit Management LLC and related Eagle Point DIF GP I LLC reported sales of ACRES Commercial Realty Corp. (ACR) 7.875% Series D preferred shares in three transactions on 08/28/2025, 08/29/2025 and 09/02/2025 at reported prices of $22.35, $22.52 and $22.35 respectively. Following those dispositions the reporting persons continue to hold a substantial indirect position: approximately 795,000 shares of Series D preferred, 393,646 shares of 8.625% Series C preferred, and 1,177,060 common shares, all held through managed accounts. The filing notes holdings are held by private funds/accounts managed by EPCM, that DIF GP serves as general partner, and includes a weighted average price range of $22.40–$22.63 for the sales.

Positive

• Timely and detailed SEC disclosure including transaction dates, quantities, and weighted average price range ($22.40–$22.63)
• Continued sizable holdings after sales: ~1,177,060 common shares, ~795,000 Series D preferred, and ~393,646 Series C preferred
• Compliance transparency — filing offers to provide per-price allocation to SEC or issuer upon request

Negative

• Reduction in Series D preferred holdings via multiple sales on 08/28/2025–09/02/2025 (aggregate decrease shown across reported lines)
• Beneficial ownership ambiguity — reporting persons disclaim beneficial ownership, which can limit clarity on economic exposure

Insights

Financial Analyst

TL;DR: Insider sales were small tranche dispositions; reporting entities retain large indirect stakes across common and preferred shares.

The transactions are sales of preferred shares across three dates at prices clustered around $22.4–$22.6, reducing the reported indirect Series D position modestly from about 795,743 to 794,985 shares. The reporting entities still hold material positions in ACR: roughly 1.18 million common shares and nearly 394k Series C preferred shares. For market impact, the disclosed volumes appear incremental relative to the retained positions, and the filing provides a weighted price range and willingness to disclose per-price breakdowns, which aids transparency.

Corporate Governance Expert

TL;DR: Proper Section 16 disclosure filed; reporting persons include a standard beneficial ownership disclaimer.

The form is signed and includes required footnotes clarifying that the securities are held by private funds/accounts managed by EPCM and that DIF GP acts as general partner. The filing contains a clear Rule 16 disclaimer of beneficial ownership by the reporting persons, which is typical for asset managers. The undertaking to supply per-price allocation on request is a positive compliance signal. There is no indication of insider trading policy breaches based on this disclosure alone.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Eagle Point Credit Management LLC

(Last) (First) (Middle)

600 STEAMBOAT ROAD, SUITE 202

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ACRES Commercial Realty Corp. [ ACR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
7.875% Series D Preferred Stock	08/28/2025		S		323	D	$22.35	795,743	I	See footnotes(1)(2)(3)
7.875% Series D Preferred Stock	08/29/2025		S		658	D	$22.52	795,085	I	See footnotes(1)(2)(3)(4)
7.875% Series D Preferred Stock	09/02/2025		S		100	D	$22.35	794,985	I	See footnotes(1)(2)(3)
Common Stock, $0.001 par value								1,177,060	I	See footnotes(1)(2)(3)
8.625% Series C Preferred Stock								393,646	I	See footnotes(1)(2)(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Eagle Point Credit Management LLC

(Last) (First) (Middle)

600 STEAMBOAT ROAD, SUITE 202

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Eagle Point DIF GP I LLC

(Last) (First) (Middle)

600 STEAMBOAT ROAD, SUITE 202

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The securities are directly held by certain private investment funds and/or certain accounts (the "Applicable Accounts") managed by Eagle Point Credit Management LLC ("EPCM"). Eagle Point DIF GP I LLC ("DIF GP") serves as general partner to certain Applicable Accounts.

2. EPCM and DIF GP could be deemed to have an "indirect pecuniary interest" (within the meaning of Rule 16a-1(a)(2)(ii) under the Securities Exchange Act of 1934) in securities reported herein.

3. 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.

4. The price reported reflects the weighted average price per share. These securities were sold in multiple transactions at prices ranging from $22.40 to $22.63 per share, inclusive. Upon request by the staff of the Securities and Exchange Commission, the Issuer or any security holder of the Issuer, the reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

	/s/ Courtney Fandrick, Chief Compliance Officer of Eagle Point Credit Management LLC	09/02/2025
	/s/ Courtney Fandrick, Authorized Person of Eagle Point DIF GP I LLC	09/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Eagle Point report on Form 4 for ACRES Commercial Realty Corp (ACR)?

The filing reports sales of 7.875% Series D preferred shares on 08/28/2025, 08/29/2025 and 09/02/2025 at weighted prices around $22.40–$22.63 and continuing indirect holdings in multiple classes.

How many ACR shares do the reporting persons still indirectly hold?

After the reported transactions the filing shows approximately 795,000 Series D preferred shares, 393,646 8.625% Series C preferred shares, and 1,177,060 common shares held indirectly.

Who are the reporting entities on this Form 4?

The reporting persons are Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, with signatures by Courtney Fandrick as authorized representative.

Does the filing state these securities are directly owned by the reporting persons?

No; the filing discloses the securities are held by private funds and/or accounts managed by EPCM and includes a disclaimer that the reporting persons disclaim beneficial ownership under Rule 16a-1(a)(4).

What price range were the Series D preferred shares sold at?

The filing reports sales at prices between $22.40 and $22.63 and provides the weighted average price figures for the reported transactions.