Invesco entities receive stock grants in CRE finance REIT

Invesco Realty, Inc., as part of the Invesco group, reported four grant or award acquisitions of common stock of Invesco Commercial Real Estate Finance Trust, Inc. on May 1, 2026.

Rhea-AI Filing Summary

Invesco Realty, Inc., as part of the Invesco group, reported four grant or award acquisitions of common stock of Invesco Commercial Real Estate Finance Trust, Inc. on May 1, 2026. These are compensation-style awards, not open-market purchases.

The transactions cover different share classes: 301,574.9230 shares of Class S at $24.8694 per share, 301,859.5720 shares of Class D at $24.8460, 300,692.6390 shares of Class I at $24.9424, and 290,330.2260 shares of Class E at $25.8327. Following these awards, Invesco Realty’s direct holdings in each class are around 1.5 million shares.

According to the disclosure, these shares are held directly by Invesco Realty, Inc., while other listed Invesco and Oppenheimer entities are indirect beneficial owners through a wholly owned subsidiary structure and are treated as directors by deputization under Section 16.

Insights

Equity analyst

Invesco entities reported routine share awards, not open-market buying or selling.

The filing shows Invesco Realty, Inc. receiving grant or award acquisitions in four common stock classes of Invesco Commercial Real Estate Finance Trust, Inc.. Code A and the description “Grant, award, or other acquisition” indicate compensation-style allocations rather than discretionary market trades.

Each class award is roughly 290,000–302,000 shares at per-share prices near $25, bringing direct holdings per class to about 1.5 million shares. There are no derivative positions disclosed in this filing, and no sales or dispositions, so the net effect is to increase the group’s equity exposure.

The footnote explains that Invesco Realty, Inc. is the direct holder, while other Invesco and Oppenheimer entities are indirect beneficial owners through a wholly owned subsidiary chain. This structure and the absence of sales suggest a routine adjustment of a large institutional position, rather than a directional signal on the company’s outlook.

Insider Trade Summary

Grant/Award: 1,194,457.36 shares

Grant/Award 4 txns

Insider Invesco Realty, Inc., Invesco Advisers, Inc., Invesco Group Services, Inc., OppenheimerFunds, Inc., OPPENHEIMER ACQUISITION CORP, IVZ Inc, INVESCO HOLDING CO LTD, Invesco Ltd.

Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner

Type	Security	Shares	Price	Value
Grant/Award	Class E Common Stock, $0.01 par value	290,330.226	$25.8327	$7.50M
Grant/Award	Class I Common Stock, $0.01 par value	300,692.639	$24.9424	$7.50M
Grant/Award	Class D Common Stock, $0.01 par value	301,859.572	$24.846	$7.50M
Grant/Award	Class S Common Stock, $0.01 par value	301,574.923	$24.8694	$7.50M

Holdings After Transaction: Class E Common Stock, $0.01 par value — 1,479,586.776 shares (Direct); Class I Common Stock, $0.01 par value — 1,495,126.868 shares (Direct); Class D Common Stock, $0.01 par value — 1,499,487.578 shares (Direct); Class S Common Stock, $0.01 par value — 1,498,497.346 shares (Direct)

Footnotes (1)

1. F1. These shares are held directly by Invesco Realty, Inc. ("IRI"), which is a wholly owned subsidiary of Invesco Advisers, Inc. (the issuer's adviser), which is a wholly owned subsidiary of Invesco Group Services, Inc., which is a wholly owned subsidiary of OppenheimerFunds, Inc., which is a wholly owned subsidiary of Oppenheimer Acquisition Corp., which is a wholly owned subsidiary of Invesco Holding Company (US), Inc., which is a wholly owned subsidiary of Invesco Holding Company Limited and which is a wholly owned subsidiary of Invesco Ltd., the ultimate parent entity. As a result, all entities other than Invesco Realty, Inc. are indirect beneficial owners. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

Key Figures

Class S shares granted: 301,574.9230 shares Class S price: $24.8694 per share Class S holdings after grant: 1,498,497.3460 shares +4 more

7 metrics

Class S shares granted 301,574.9230 shares Class S Common Stock grant on May 1, 2026

Class S price $24.8694 per share Price for Class S grant

Class S holdings after grant 1,498,497.3460 shares Total Class S shares following transaction

Class D shares granted 301,859.5720 shares Class D Common Stock grant on May 1, 2026

Class I shares granted 300,692.6390 shares Class I Common Stock grant on May 1, 2026

Class E shares granted 290,330.2260 shares Class E Common Stock grant on May 1, 2026

Class E price $25.8327 per share Price for Class E grant

Key Terms

Class S Common Stock, $0.01 par value, Grant, award, or other acquisition, indirect beneficial owners, direct or indirect, +1 more

5 terms

Class S Common Stock, $0.01 par value financial

"security_title: Class S Common Stock, $0.01 par value"

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

indirect beneficial owners financial

"As a result, all entities other than Invesco Realty, Inc. are indirect beneficial owners."

direct or indirect financial

"direct_or_indirect: D indicating direct ownership type for these transactions"

Section 16 of the Securities Exchange Act of 1934 regulatory

"directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended."

A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Invesco entities report in this Form 4 for IVZ-related holdings?

They reported grant or award acquisitions of four classes of Invesco Commercial Real Estate Finance Trust common stock. Invesco Realty, Inc. directly received the shares, while other Invesco and Oppenheimer entities are indirect beneficial owners through a wholly owned subsidiary structure.

How many Class S shares did Invesco Realty, Inc. acquire in this filing for IVZ?

Invesco Realty, Inc. acquired 301,574.9230 Class S Common Stock shares at a price of $24.8694 per share. After this transaction, its direct holdings of Class S shares in Invesco Commercial Real Estate Finance Trust, Inc. increased to 1,498,497.3460 shares.

What other share classes were granted to Invesco Realty, Inc. besides Class S?

Invesco Realty, Inc. also received grants of Class D, Class I, and Class E Common Stock. These awards totaled 301,859.5720 Class D shares, 300,692.6390 Class I shares, and 290,330.2260 Class E shares, each at per-share prices slightly below or above $25.

Were these Invesco Form 4 transactions open-market buys or sales?

No, they were not open-market trades. The transactions use code A, labeled as “Grant, award, or other acquisition,” indicating compensation-style share awards. The transaction summary shows zero buy and sell counts, reinforcing that no open-market buying or selling occurred.

Who directly holds the reported Invesco Commercial Real Estate Finance Trust shares?

The shares are held directly by Invesco Realty, Inc. A footnote explains that Invesco Advisers, Inc., Invesco Group Services, Oppenheimer entities, Invesco Holding companies, and Invesco Ltd. are indirect beneficial owners through a wholly owned subsidiary chain above Invesco Realty, Inc.

Did this Invesco Form 4 include any derivative securities or option exercises?

No derivative securities or option exercises are reported. The derivative summary is empty and transaction codes are all A for non-derivative common stock grants. This means the filing only reflects acquisitions of common stock classes, with no options or similar instruments involved.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/05/2026 - 12:12 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^*

Invesco Realty, Inc.

(Last) (First) (Middle)

1331 SPRING STREET, NW

SUITE 2500

(Street)

ATLANTA GEORGIA 30309

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Invesco Commercial Real Estate Finance Trust, Inc. [ N/A ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

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

	Form filed by One Reporting Person
X	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
Class E Common Stock, $0.01 par value	05/01/2026		A		290,330.226	A	$25.8327	1,479,586.776	D(1)
Class I Common Stock, $0.01 par value	05/01/2026		A		300,692.639	A	$24.9424	1,495,126.868	D(1)
Class D Common Stock, $0.01 par value	05/01/2026		A		301,859.572	A	$24.846	1,499,487.578	D(1)
Class S Common Stock, $0.01 par value	05/01/2026		A		301,574.923	A	$24.8694	1,498,497.346	D(1)

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^*

Invesco Realty, Inc.

(Last) (First) (Middle)

1331 SPRING STREET, NW

SUITE 2500

(Street)

ATLANTA GEORGIA 30309

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Invesco Advisers, Inc.

(Last) (First) (Middle)

1331 SPRING STREET NW, SUITE 2500

(Street)

ATLANTA GEORGIA 30309

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Invesco Group Services, Inc.

(Last) (First) (Middle)

1331 SPRING STREET NW, SUITE 2500

(Street)

ATLANTA GEORGIA 30309

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

OppenheimerFunds, Inc.

(Last) (First) (Middle)

1331 SPRING STREET NW, SUITE 2500

(Street)

ATLANTA GEORGIA 30309

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

OPPENHEIMER ACQUISITION CORP

(Last) (First) (Middle)

1331 SPRING STREET NW, SUITE 2500

(Street)

ATLANTA GEORGIA 30309

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

IVZ Inc

(Last) (First) (Middle)

1331 SPRING STREET NW, SUITE 2500

(Street)

ATLANTA GEORGIA 30309

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

INVESCO HOLDING CO LTD

(Last) (First) (Middle)

1331 SPRING STREET NW, SUITE 2500

(Street)

ATLANTA GEORGIA 30309

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Invesco Ltd.

(Last) (First) (Middle)

1331 SPRING STREET NW, SUITE 2500

(Street)

ATLANTA GEORGIA 30309

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. These shares are held directly by Invesco Realty, Inc. ("IRI"), which is a wholly owned subsidiary of Invesco Advisers, Inc. (the issuer's adviser), which is a wholly owned subsidiary of Invesco Group Services, Inc., which is a wholly owned subsidiary of OppenheimerFunds, Inc., which is a wholly owned subsidiary of Oppenheimer Acquisition Corp., which is a wholly owned subsidiary of Invesco Holding Company (US), Inc., which is a wholly owned subsidiary of Invesco Holding Company Limited and which is a wholly owned subsidiary of Invesco Ltd., the ultimate parent entity. As a result, all entities other than Invesco Realty, Inc. are indirect beneficial owners. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

Remarks:

	/s/ Tina Carew, Attorney-in-Fact, for Invesco Realty, Inc.	05/05/2026
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Advisers, Inc	05/05/2026
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Group Services, Inc.	05/05/2026
	/s/ Tina Carew, Attorney-in-Fact, for OppenheimerFunds Inc.	05/05/2026
	/s/ Tina Carew, Attorney-in-Fact, for Oppenheimer Acquisition Corp	05/05/2026
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Holding Company (US), Inc. (FKA IVZ Inc.)	05/05/2026
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Holding Company Limited	05/05/2026
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Ltd.	05/05/2026
	** 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)