[Form 4] CIM REAL ESTATE FINANCE TRUST, INC. Insider Trading Activity

Rhea-AI Filing Summary

CIM REAL ESTATE FINANCE TRUST, INC. executive Nathan D. DeBacker, Chief Financial Officer and Treasurer, reported acquiring 9,244.585 shares of common stock on December 15, 2025. The shares were delivered upon vesting of 18,489.171 restricted stock units granted on January 9, 2024 under the company’s 2024 Manager Equity Incentive Plan, with each vested unit settling 50% in stock and 50% in cash.

After this transaction, DeBacker directly held 14,033.857 common shares and 75,960.433 restricted stock units. These units include 18,489.171 units scheduled to vest on December 15, 2026, 19,157.087 units vesting in equal annual installments on June 30, 2026 and June 30, 2027, and 38,314.176 units vesting in three equal annual installments beginning on April 15, 2026, all settling half in shares and half in cash value.

Insider Trade Summary

Net Buyer: 9,244.585 shares

Net Buy 2 txns

Insider DeBacker Nathan David

Role See Remarks

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	18,489.171	$0.00	$0.00
Exercise	Common Stock	9,244.585	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 75,960.433 shares (Direct); Common Stock — 14,033.857 shares (Direct)

Footnotes (3)

1. F1. On December 15, 2025, the reporting person acquired 9,244.585 shares of the Issuer's common stock in connection with the vesting of 18,489.171 of the restricted stock units originally granted to the reporting person on January 9, 2024 as an award under the Issuer's 2024 Manager Equity Incentive Plan. Each vested restricted stock unit settled 50% in the Issuer's common stock and 50% in the cash value thereof. The remaining 18,489.171 restricted stock units granted to the reporting person on January 9, 2024 will vest on December 15, 2026. As such restricted stock units vest, the awards will be settled 50% in the Issuer's common stock and 50% in the cash value thereof.
2. F2. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock, payable 50% in the Issuer's common stock and 50% in the cash value thereof.
3. F3. Represents the remaining 18,489.171 restricted stock units originally granted to the reporting person on January 9, 2024, which will vest on December 15, 2026, the remaining 19,157.087 restricted stock units originally granted to the reporting person on November 12, 2024, which will vest in equal annual installments on June 30, 2026 and June 30, 2027 and the 38,314.176 restricted stock units originally granted to the reporting person on April 14, 2025 as an award under the Issuer's 2024 Manager Equity Incentive Plan, which will vest in three equal annual installments beginning on April 15, 2026.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 12/17/2025 - 06:25 PM Learn about SEC filing dates

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^*

DeBacker Nathan David

(Last) (First) (Middle)

2398 E. CAMELBACK ROAD, 4TH FLOOR

(Street)

PHOENIX AZ 85016

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CIM REAL ESTATE FINANCE TRUST, INC. [ NONE ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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

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

X	Form filed by One Reporting Person
	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	12/15/2025		M		9,244.585	A	(1)	14,033.857	D

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
Restricted Stock Units	(2)	12/15/2025		M			18,489.171(1)	(1)	(1)	Common Stock	18,489.171	$0	75,960.433(3)	D

Explanation of Responses:

1. On December 15, 2025, the reporting person acquired 9,244.585 shares of the Issuer's common stock in connection with the vesting of 18,489.171 of the restricted stock units originally granted to the reporting person on January 9, 2024 as an award under the Issuer's 2024 Manager Equity Incentive Plan. Each vested restricted stock unit settled 50% in the Issuer's common stock and 50% in the cash value thereof. The remaining 18,489.171 restricted stock units granted to the reporting person on January 9, 2024 will vest on December 15, 2026. As such restricted stock units vest, the awards will be settled 50% in the Issuer's common stock and 50% in the cash value thereof.

2. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock, payable 50% in the Issuer's common stock and 50% in the cash value thereof.

3. Represents the remaining 18,489.171 restricted stock units originally granted to the reporting person on January 9, 2024, which will vest on December 15, 2026, the remaining 19,157.087 restricted stock units originally granted to the reporting person on November 12, 2024, which will vest in equal annual installments on June 30, 2026 and June 30, 2027 and the 38,314.176 restricted stock units originally granted to the reporting person on April 14, 2025 as an award under the Issuer's 2024 Manager Equity Incentive Plan, which will vest in three equal annual installments beginning on April 15, 2026.

Remarks:

Chief Financial Officer and Treasurer

	/s/ Nathan D. DeBacker	12/17/2025
	** 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.