[Form 4] Ellington Credit Company Insider Trading Activity

Rhea-AI Filing Summary

Gregory Morris Borenstein, an officer and portfolio manager of Ellington Credit Company (EARN), reported an insider purchase on 09/05/2025. The filing shows a purchase (code P) of 4,000 common shares at $5.62 per share, bringing his reported beneficial ownership to 22,000 shares. The Form 4 was signed by an attorney-in-fact on 09/09/2025. The document lists the reporting person’s address in Old Greenwich, CT, and identifies the transaction as a non-derivative acquisition of common shares.

Positive

• Insider purchase disclosed: Officer acquired 4,000 shares, showing a personal investment in the company.
• Full transaction detail provided: Price per share $5.62 and post-transaction ownership 22,000 shares are reported.

Negative

• None.

Insights

Securities Analyst

TL;DR: A small insider buy, likely signal of limited personal conviction rather than material corporate news.

The Form 4 records a direct purchase of 4,000 common shares at $5.62, increasing the officer’s stake to 22,000 shares. The size of the purchase relative to typical public-company float appears modest and is unlikely to move market valuation or alter control dynamics. This disclosure is routine under Section 16 and provides transparency on insider activity; investors may note the purchase but should not infer major strategic change solely from this filing.

Corporate Governance Expert

TL;DR: Filing meets disclosure obligations; transaction size is small and raises no governance red flags.

The Form 4 properly reports the officer’s non-derivative acquisition and includes required signature by attorney-in-fact. There is no indication of related-party transactions, derivative exercises, or plan-based trades disclosed here. From a governance perspective, this is a standard insider purchase disclosure that improves transparency without signaling material governance shifts.

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^*

Borenstein Gregory Morris

(Last) (First) (Middle)

53 FOREST AVENUE

SUITE 301

(Street)

OLD GREENWICH CT 06870

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ellington Credit Co [ EARN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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 shares of beneficial interest	09/05/2025		P		4,000	A	$5.62	22,000	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

Explanation of Responses:

Remarks:

	/s/ Alaael-Deen Shilleh, as attorney-in-fact for Gregory Borenstein	09/09/2025
	** 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 transaction did Gregory Borenstein report on Form 4 for EARN?

He reported a non-derivative purchase of 4,000 common shares at $5.62 per share on 09/05/2025.

How many shares does the reporting person own after the transaction?

The Form 4 shows beneficial ownership of 22,000 shares following the reported transaction.

When was the Form 4 signed and filed for this EARN transaction?

The signature block shows it was signed by an attorney-in-fact on 09/09/2025.

Was this a derivative transaction or a direct purchase?

The filing reports a non-derivative security acquisition of common shares (code P).

Does the filing indicate any other material transactions or options?

No. The Form 4 contains only the reported non-derivative purchase and no derivative securities or additional material transactions.