Invesco Advisers paid in REIT stock for fees

Invesco Advisers, Inc., an indirect subsidiary of Invesco Ltd., reported receiving Class E Common Stock of Invesco Commercial Real Estate Finance Trust, Inc. as compensation.

Rhea-AI Filing Summary

Invesco Advisers, Inc., an indirect subsidiary of Invesco Ltd., reported receiving Class E Common Stock of Invesco Commercial Real Estate Finance Trust, Inc. as compensation. On February 2, 2026, it acquired 264,024.114 shares at $25.7712 per share.

The stock was paid in kind for advisory services: 77,218.621 shares as a management fee and 186,805.493 shares as performance-related fees under an amended advisory agreement. Following this transaction, Invesco Advisers, Inc. beneficially owned 534,291.84 shares directly. Several related Invesco and Oppenheimer entities are listed as reporting persons and are treated as directors by deputization for Section 16 purposes.

Insider Trade Summary

Grant/Award: 264,024.114 shares

Grant/Award 1 txn

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

Role Director | Director | Director | Director | Director | Director | Director

Type	Security	Shares	Price	Value
Grant/Award	Class E Common Stock, $0.01 par value	264,024.114	$25.7712	$6.80M

Holdings After Transaction: Class E Common Stock, $0.01 par value — 534,291.84 shares (Direct)

Footnotes (1)

1. F1. This Form 4 reports the acquisition by Invesco Advisers, Inc. (IAI) of 77,218.621 shares of Class E Common Stock as payment of its management fee and 186,805.493 shares of Class E Common Stock as payment of its Performance Fee and Class F Performance Fee under the Amended and Restated Advisory Agreement by and among the Company, Invesco Commercial Real Estate Finance Investments, LP and IAI. IAI is a wholly owned indirect subsidiary of Invesco Ltd., the ultimate parent entity. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

FAQ

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What insider transaction did Invesco (IVZ) report in this Form 4?

Invesco Advisers, Inc. reported acquiring 264,024.114 Class E Common shares of Invesco Commercial Real Estate Finance Trust, Inc. on February 2, 2026. The shares were received as non-cash compensation for management and performance fees under an amended advisory agreement.

How many shares did Invesco Advisers, Inc. own after the reported transaction?

After the transaction, Invesco Advisers, Inc. beneficially owned 534,291.84 Class E Common shares directly. This figure reflects the addition of 264,024.114 shares received as fee payment on February 2, 2026, as disclosed in the Form 4 filing.

How were the 264,024.114 shares allocated between fees to Invesco Advisers, Inc.?

The 264,024.114 shares represented two fee components: 77,218.621 shares were issued as payment of Invesco Advisers, Inc.’s management fee, and 186,805.493 shares were issued as payment of its performance fee and Class F performance fee under the amended advisory agreement.

Was this Invesco (IVZ) insider transaction a purchase for cash or payment in stock?

The transaction was a payment in stock, not a cash purchase. Invesco Advisers, Inc. received 264,024.114 Class E Common shares as compensation for management and performance fees owed under an amended advisory agreement with Invesco Commercial Real Estate Finance Trust, Inc.

Which entities are listed as reporting persons in this Invesco (IVZ) Form 4?

Reporting persons include Invesco Advisers, Inc., Invesco Group Services, Inc., OppenheimerFunds, Inc., Oppenheimer Acquisition Corp, IVZ Inc, Invesco Holding Company Limited, and Invesco Ltd. They are treated as directors by deputization for Section 16 reporting purposes.

What role does Invesco Ltd. (IVZ) play in relation to Invesco Advisers, Inc. in this filing?

Invesco Advisers, Inc. is described as a wholly owned indirect subsidiary of Invesco Ltd., which is identified as the ultimate parent entity. Both Invesco Ltd. and Invesco Advisers, Inc. are among the reporting persons treated as directors by deputization for Section 16 purposes.

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Accepted by SEC EDGAR 02/04/2026 - 01:35 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 Advisers, Inc.

(Last) (First) (Middle)

1331 SPRING STREET NW, SUITE 2500

(Street)

ATLANTA GA 30309

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/02/2026

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

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

	Form filed by One Reporting Person
X	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
Class E Common Stock, $0.01 par value	02/02/2026		A		264,024.114(1)	A	$25.7712	534,291.84	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

1. Name and Address of Reporting Person^*

Invesco Advisers, Inc.

(Last) (First) (Middle)

1331 SPRING STREET NW, SUITE 2500

(Street)

ATLANTA GA 30309

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		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 GA 30309

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		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 GA 30309

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		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 GA 30309

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		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 GA 30309

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		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 GA 30309

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		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 GA 30309

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This Form 4 reports the acquisition by Invesco Advisers, Inc. (IAI) of 77,218.621 shares of Class E Common Stock as payment of its management fee and 186,805.493 shares of Class E Common Stock as payment of its Performance Fee and Class F Performance Fee under the Amended and Restated Advisory Agreement by and among the Company, Invesco Commercial Real Estate Finance Investments, LP and IAI. IAI is a wholly owned indirect subsidiary of Invesco Ltd., the ultimate parent entity. 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 Advisers, Inc	02/04/2026
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Group Services, Inc.	02/04/2026
	/s/ Tina Carew, Attorney-in-Fact, for OppenheimerFunds Inc.	02/04/2026
	/s/ Tina Carew, Attorney-in-Fact, for Oppenheimer Acquisition Corp	02/04/2026
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Holding Company (US), Inc. (FKA IVZ Inc.)	02/04/2026
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Holding Company Limited	02/04/2026
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Ltd.	02/04/2026
	** 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).
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