Form 4: Eagle Point Disposes Series D Preferred in ACRES (ACR) Over Three Days
Rhea-AI Filing Summary
Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC reported sales of ACRES Commercial Realty Corp. (ACR) preferred shares on September 9–11, 2025. The filers sold 1,643; 3,142; and 5,945 shares of 7.875% Series D preferred stock on 09/09, 09/10 and 09/11, respectively, at weighted average prices of $22.43, $22.48 and $22.52 per share. After these transactions, the reporting persons hold indirectly 781,067 shares of Series D preferred stock. The report also discloses indirect holdings of 1,177,060 shares of common stock and 393,646 shares of 8.625% Series C preferred stock. The form was signed by Courtney Fandrick as authorized representative.
Positive
- Timely disclosure of sales across three consecutive trading days, showing compliance with reporting obligations
- Detailed pricing provided as weighted averages with stated price ranges and willingness to supply per-price breakdowns upon request
- Clear identification of reporting entities and signature by an authorized compliance officer
Negative
- Dispositions of Series D preferred shares totaling 10,730 shares over three days (1,643 + 3,142 + 5,945) reduce the reported position from prior levels
- Beneficial ownership is indirect, which limits clarity about ultimate decision-makers and economic exposure
Insights
TL;DR Insider group sold small tranches of Series D preferred stock over three days; significant indirect holdings remain.
The transactions are disclosed as sales occurring on 09/09/2025, 09/10/2025 and 09/11/2025 with weighted average prices reported for each day. The reporting entities state the securities are held by funds/accounts they manage and that ownership is indirect. Total indirect holdings after the reported sales include 781,067 Series D preferred shares, 393,646 Series C preferred shares and 1,177,060 common shares. The filing provides weighted average price ranges for the sales and commits to furnish per-price breakdowns upon SEC request. From a quantitative perspective, the filing documents precise sale amounts and confirms continuing material stakes.
TL;DR Reporting persons correctly disclosed indirect holdings and multiple-day dispositions; filing includes required disclaimers.
The report identifies Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC as reporting persons with director and 10% owner relationships to the issuer. The explanation footnotes disclaim beneficial ownership under Rule 16a-1(a)(4) and assert indirect pecuniary interest per Rule 16a-1(a)(2)(ii). Signatures from an authorized compliance officer are provided for both entities. The form adheres to Form 4 presentation requirements by reporting each class of security and supplying weighted average prices and transaction codes; it also offers to provide detailed transaction-price breakdowns upon regulatory request.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | 7.875% Series D Preferred Stock | 5,945 | $22.52 | $134K |
| Sale | 7.875% Series D Preferred Stock | 3,142 | $22.48 | $71K |
| Sale | 7.875% Series D Preferred Stock | 1,643 | $22.43 | $37K |
| holding | Common Stock, $0.001 par value | -- | -- | -- |
| holding | 8.625% Series C Preferred Stock | -- | -- | -- |
Footnotes (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. 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. 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. The price reported reflects the weighted average price per share. These securities were sold in multiple transactions at prices ranging from $22.42 to $22.45 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. The price reported reflects the weighted average price per share. These securities were sold in multiple transactions at prices ranging from $22.48 to $22.51 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. The price reported reflects the weighted average price per share. These securities were sold in multiple transactions at prices ranging from $22.50 to $22.55 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.
