[Form 4] Invesco Ltd. Insider Trading Activity

Rhea-AI Filing Summary

Invesco Advisers, Inc. reported an acquisition of equity in Invesco Commercial Real Estate Finance Trust, Inc. on a Form 4. On 11/03/2025, the reporting persons acquired 65,555.083 shares of Class E Common Stock at $25.66 per share. The filing states this stock was received as payment of a management fee. Following the transaction, beneficial ownership stood at 288,170.575 shares, held directly. The reporting persons are identified as directors by deputization for Section 16 purposes, and the filing was made by more than one reporting person.

Insights

Governance & Insider Transactions Analyst

Routine Form 4 showing fee paid in stock; neutral impact.

This Form 4 discloses that affiliated reporting persons of Invesco Ltd. received 65,555.083 Class E shares of Invesco Commercial Real Estate Finance Trust, Inc. at $25.66 on 11/03/2025. The explanation notes the shares were issued as payment of a management fee, indicating a non-cash, in-kind compensation arrangement.

Post-transaction beneficial ownership is 288,170.575 shares held directly. The filing identifies the filers as directors by deputization under Section 16, clarifying their reporting status. As a routine compensation-related issuance, this is administratively informative rather than thesis-changing.

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 NE, 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)
11/03/2025

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	11/03/2025		A		65,555.083(1)	A	$25.66	288,170.575	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 NE, 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 NE, 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 NE, 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 NE, 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 NE, 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 NE, 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 NE, 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. Represents the acquisition by Invesco Advisers, Inc., which is a wholly owned indirect subsidiary of Invesco Ltd., the ultimate parent entity, of Class E Common Stock as payment of its management fee. 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	11/05/2025
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Group Services, Inc.	11/05/2025
	/s/ Tina Carew, Attorney-in-Fact, for OppenheimerFunds Inc.	11/05/2025
	/s/ Tina Carew, Attorney-in-Fact, for Oppenheimer Acquisition Corp	11/05/2025
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Holding Company (US), Inc. (FKA IVZ Inc.)	11/05/2025
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Holding Company Limited	11/05/2025
	/s/ Tina Carew, Attorney-in-Fact, for Invesco Ltd.	11/05/2025
	** 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 did IVZ’s affiliates report on this Form 4?

They reported acquiring 65,555.083 Class E shares of Invesco Commercial Real Estate Finance Trust, Inc. on 11/03/2025.

What was the price per share in the reported transaction?

The reported transaction price was $25.66 per share.

Why were the shares received by the reporting persons?

The shares were received as payment of a management fee, according to the explanation of responses.

How many shares were beneficially owned after the transaction?

Beneficial ownership after the transaction was 288,170.575 shares, held directly.

What is the relationship of the reporting persons to the issuer?

They are identified as directors by deputization for Section 16 purposes.

Was this filing made by a single or multiple reporting persons?

It was filed by more than one reporting person.