Form 4: 595K AOMR Shares Disposed by Davidson Kempner

Rhea-AI Filing Summary

Davidson Kempner Capital Management LP reported a sale of Angel Oak Mortgage REIT, Inc. (AOMR) common stock. On 08/21/2025 the reporting group disposed of 595,000 shares at $9.75 per share. After the reported transaction, the reporting persons collectively beneficially owned 4,134,210 shares on an indirect basis through Xylem Finance LLC, for which Davidson Kempner acts as investment manager.

The filing identifies the reporting entities as Davidson Kempner, Xylem Finance LLC and Anthony A. Yoseloff, and explains the investment-management and ownership structure. The form is signed and dated 08/25/2025 and includes a statement that one of DKCM's managing directors, Vikram Shankar, currently serves on the issuer's board.

Positive

• Continued significant indirect ownership: Reporting persons still hold 4,134,210 shares through Xylem Finance LLC.
• Clear disclosure of ownership and control: Filing explains relationship between Xylem, Davidson Kempner and named individuals, improving transparency.

Negative

• Reported sale of shares: Disposition of 595,000 common shares at $9.75 on 08/21/2025.
• Potential signaling risk: Large insider sale may prompt investor questions about insider sentiment, though no reason is provided.

Insights

Securities Analyst

TL;DR: A material insider sale was executed but substantial indirect ownership remains, suggesting routine portfolio management.

The sale of 595,000 AOMR shares at $9.75 is a clear, reportable disposition under Section 16 and is material in absolute terms. The report shows continued significant indirect ownership of 4,134,210 shares via Xylem Finance LLC, managed by Davidson Kempner, which mitigates immediate corporate-governance concerns. This appears to be a discretionary portfolio action by the investment manager rather than a corporate event. The filing includes typical disclaimers about beneficial ownership and clarifies voting and investment decision authority.

Corporate Governance Expert

TL;DR: Filing documents delegated voting authority and a board connection; disclosure is thorough and compliant.

The statement details the reporting chain: Xylem Finance LLC holds the securities, Davidson Kempner is the investment manager, and Anthony A. Yoseloff is named for voting/investment responsibility. The remark that Vikram Shankar serves on the issuer's board is disclosed to explain potential director status by deputization. Signatures and footnotes follow common Form 4 practice, and the disclaimer regarding not admitting beneficial ownership is standard. No governance red flags are explicitly stated in the filing.

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
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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^*

DAVIDSON KEMPNER CAPITAL MANAGEMENT LP

(Last) (First) (Middle)

9 WEST 57TH STREET

29TH FLOOR

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Angel Oak Mortgage REIT, Inc. [ AOMR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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
Common Stock, par value $0.01 per share	08/21/2025		S		595,000	D	$9.75	4,134,210	I	See footnotes(1)(2)

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^*

DAVIDSON KEMPNER CAPITAL MANAGEMENT LP

(Last) (First) (Middle)

9 WEST 57TH STREET

29TH FLOOR

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

YOSELOFF ANTHONY ALEXANDER

(Last) (First) (Middle)

DAVIDSON KEMPNER CAPITAL MANAGEMENT LP

520 MADISON AVENUE, 30TH FLOOR

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Xylem Finance LLC

(Last) (First) (Middle)

9 WEST 57TH STREET

29TH FLOOR

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The securities reported on this line are held directly by Xylem Finance LLC, a Delaware limited liability company ("Xylem"). Davidson Kempner Capital Management LP, a Delaware limited partnership and a registered investment adviser with the U.S. Securities and Exchange Commission ("DKCM") acts as investment manager to Xylem. DKCM GP LLC, a Delaware limited liability company, is the general partner of DKCM. The managing members of DKCM are Anthony A. Yoseloff, Conor Bastable, Shulamit Leviant, Morgan P. Blackwell, Patrick W. Dennis, Gabriel T. Schwartz, Zachary Z. Altschuler, Joshua D. Morris, Suzanne K. Gibbons, Gregory S. Feldman, Melanie Levine and James Li. Anthony A. Yoseloff through DKCM, is responsible for the voting and investment decisions relating to the securities held by Xylem reported herein.

2. The filing of this statement shall not be deemed an admission that any of the Reporting Persons is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each of the Reporting Persons expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein, if any.

Remarks:

Each Reporting Person may be deemed to be a director by deputization for purposes of Section 16 under the Securities Exchange Act of 1934 by virtue of the fact that Mr. Vikram Shankar, a Managing Director of DKCM, currently serves on the board of directors of the Issuer.

	Xylem Finance LLC, By: Davidson Kempner Capital Management LP, its Investment Manager, By: /s/ Anthony A. Yoseloff, its Executive Managing Member	08/25/2025
	Davidson Kempner Capital Management LP, By: /s/ Anthony A. Yoseloff, its Executive Managing Member	08/25/2025
	/s/ Anthony A. Yoseloff	08/25/2025
	** Signature of Reporting Person	Date
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