Preferred-for-common swap reshapes Creative Media & Community Trust (CMCT) holdings

Rhea-AI Filing Summary

Creative Media & Community Trust Corp director Avraham Shemesh reported an internal restructuring of indirect holdings, tied to the issuer’s redemption of preferred stock. Entities associated with Shemesh, including CIM CMCT MLP, LLC and CIM Capital Real Property Management, LLC, received additional shares of Common Stock at a stated price of $0.0000 per share.

The footnotes explain that Common Stock was issued in exchange for Series A and Series A1 Preferred Stock that had been called for redemption by the company, using a price based on the volume-weighted average price of the Common Stock over 20 trading days. The filing reflects non-market, compensation-free reclassification of positions rather than open‑market buying or selling.

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

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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^*

Shemesh Avraham

(Last) (First) (Middle)

2398 E. CAMELBACK ROAD, 4TH FLOOR

(Street)

PHOENIX ARIZONA 85016

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Creative Media & Community Trust Corp [ CMCT ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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

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

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

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	03/16/2026	03/16/2026	J		8,146,382	A	(1)	8,183,796	I	By CIM CMCT MLP, LLC
Common Stock	03/16/2026	03/16/2026	J		1,002,524	A	(1)	1,011,004	I	By CIM Capital Real Property Management, LLC
Series A Preferred Stock	03/16/2026	03/16/2026	J		298,472	D	(2)	270,209	I	By CIM CMCT MLP, LLC
Series A1 Preferred Stock	03/16/2026	03/16/2026	J		36,663	D	(2)	0	I	By CIM Capital Real Property Management, LLC
Common Stock								185	D
Common Stock								1,930	I	By CIM Urban Sponsor, LLC
Common Stock								1,584	I	By CIM Real Assets & Credit Fund

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

Explanation of Responses:

1. Shares of Common Stock were issued for the redemption of Series A Preferred Stock and Series A1 Preferred Stock which were called for redemption by the issuer. The issuance price as based on the VWAP of the Common Stock for the 20 Trading Days immediately preceding the

2. These shares were called for redemption by the issuer.

Remarks:

	/s/ Avraham Shemesh	03/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did CMCT director Avraham Shemesh report in this Form 4?

Avraham Shemesh reported internal restructuring of indirect holdings in Creative Media & Community Trust Corp. Entities linked to him received Common Stock in exchange for preferred shares called for redemption, with no cash consideration, reflecting a non-market adjustment rather than open-market trading activity.

Which securities were involved in Avraham Shemesh’s CMCT Form 4 filing?

The filing covers Common Stock, Series A Preferred Stock, and Series A1 Preferred Stock of Creative Media & Community Trust Corp. Common Stock was issued to affiliated entities in connection with the issuer’s redemption of the preferred shares, consolidating ownership without recording a purchase or sale price.

How many CMCT Common Shares did Shemesh-related entities hold after the transactions?

After the restructuring, CIM CMCT MLP, LLC held 8,183,796 CMCT Common Shares, and CIM Capital Real Property Management, LLC held 1,011,004 Common Shares. These positions are reported as indirect holdings attributed to director Avraham Shemesh through the respective affiliated entities.

Were the CMCT transactions reported by Avraham Shemesh open-market buys or sells?

No, the transactions were not open-market buys or sells. They are coded as “J” transactions, described as other acquisitions or dispositions, and stem from preferred stock being redeemed and converted into Common Stock at no stated cash price per share.

What do the footnotes explain about the CMCT preferred share redemptions?

The footnotes state that Common Stock was issued for the redemption of Series A and Series A1 Preferred Stock that were called for redemption by the issuer. The issuance price was based on the Common Stock VWAP over 20 trading days before the redemption reference period.