EFC Form 4: Director's Grant Raises Ownership to 81,116 Shares
Rhea-AI Filing Summary
Lisa Mumford, a director of Ellington Financial Inc. (EFC), reported on Form 4 that she was granted 9,198 Common Shares on 09/10/2025 at a stated price of $0. Those Common Shares remain forfeitable and subject to continued board service until September 9, 2026. After the grant, Ms. Mumford beneficially owns 81,116 Common Shares. She also holds 7,657 OP LTIP Units of the company’s operating partnership, which convert one-for-one into Common Units and can be redeemed for Common Shares or cash under defined conditions. The awards were issued under the company’s 2017 Equity Incentive Plan.
Positive
- 9,198 Common Shares granted to a director under the 2017 Equity Incentive Plan, aligning compensation with shareholder interests
- Director's total beneficial ownership increased to 81,116 Common Shares after the grant
- 7,657 OP LTIP Units convertible one-for-one into Common Units, providing additional alignment with company performance
Negative
- The 9,198 Common Shares are forfeitable until September 9, 2026, restricting immediate transfer or sale
- The grant was reported at a price of $0, indicating dilution via awarded shares rather than purchased shares
Insights
Director received equity awards that vest over one year, increasing her stake to 81,116 shares.
The Form 4 shows a 9,198-share grant recorded on 09/10/2025 with a reported price of $0, indicating these were awarded rather than purchased. The shares are forfeitable until September 9, 2026, which links retention to continued board service.
The reporting person also holds 7,657 OP LTIP Units that convert one-for-one into Common Units and are redeemable for Common Shares or cash. These units expand the director’s indirect economic exposure to the company under the 2017 Equity Incentive Plan.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 9,198 | $0.00 | -- |
| holding | OP LTIP Units | -- | -- | -- |
Footnotes (1)
- The 9,198 shares of common stock, $0.001 par value per share (the "Common Shares") remain forfeitable, subject to the reporting person's continued service as a member of the board of directors of Ellington Financial Inc. (the "Company"), until September 9, 2026. The Common Shares were issued pursuant to, and are subject to the terms and conditions of the Company's 2017 Equity Incentive Plan. Represents a separate non-voting class of limited liability company interests ("OP LTIP Units") of Ellington Financial Operating Partnership LLC (the "Operating Partnership"), the operating partnership of the Company. The OP LTIP Units may be converted, upon lapse of the vesting restrictions described above, at the election of the holder, or at any time at the election of the Company, into limited liability company interests of the Operating Partnership designated as common units ("Common Units") on a one-for-one basis. Subject to certain conditions, the Common Units are redeemable by the holder for an equivalent number of Common Shares of the Company, or for the cash value of such Common Shares, at the Company's election. The OP LTIP Units were issued pursuant to, and are subject to the terms and conditions of the Company's 2017 Equity Incentive Plan. The rights to convert OP LTIP Units into Common Units and redeem such Common Units do not have expiration dates.
