KKR Real Estate Finance Trust (KREF) insider sells 125,289 shares for 2025 tax planning

Rhea-AI Filing Summary

KKR Real Estate Finance Trust Inc. (KREF)12/03/2025, the reporting person sold 125,289 shares of KREF common stock in a block trade at $8.25 per share under Rule 144. According to the disclosure, the sale was made in connection with the reporting person’s year-end tax planning for 2025. The reporting person states an intention, but has no obligation, to repurchase an equal number of shares in 2026, subject to applicable laws, company policies, and market conditions.

12/03/2025 - 05:14 PM

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

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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^*

ROSENBERG RALPH F

(Last) (First) (Middle)

C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.

30 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KKR Real Estate Finance Trust Inc. [ KREF ]

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)
12/03/2025

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 Stock	12/03/2025		S		125,289	D	$8.25(1)	0	D
Common Stock	12/03/2025		S		125,289	D	$8.25(1)	0	I	See footnote.(2)

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:

1. Reflects the sale of 125,289 shares of common stock of KKR Real Estate Finance Trust Inc., by the Reporting Person in a block sale at a price per share of $8.25 pursuant to Rule 144 of the Securities Act of 1933, as amended. The sale was made in connection with the Reporting Person's year-end tax planning for 2025. The Reporting Person intends, but is not required, to repurchase an equal number of shares in 2026, subject to compliance with laws and company policies, as well as then-current market conditions.

2. Held through a limited partnership. Mr. Rosenberg disclaims beneficial ownership over these shares of Common Stock, except to the extent of his pecuniary interest therein.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney.

	/s/ Kelly Galligan, as Attorney-in-Fact	12/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did KKR Real Estate Finance Trust Inc. (KREF) report?

The company reported that a director-level reporting person sold 125,289 shares of KKR Real Estate Finance Trust Inc. common stock in a block sale on 12/03/2025.

At what price were the KREF shares sold in this Form 4 transaction?

The 125,289 shares of KKR Real Estate Finance Trust Inc. common stock were sold at a price of $8.25 per share in a block trade.

Why did the KREF insider sell 125,289 shares of stock?

The filing states that the sale of 125,289 shares was made in connection with the reporting person’s year-end tax planning for 2025.

Was the KREF insider sale conducted under Rule 144?

Yes. The disclosure notes that the 125,289-share block sale of KKR Real Estate Finance Trust Inc. common stock was made pursuant to Rule 144 of the Securities Act of 1933, as amended.

Does the KREF insider plan to repurchase the shares sold?

The reporting person intends, but is not required, to repurchase an equal number of shares in 2026, subject to compliance with laws, company policies, and then-current market conditions.

How is the KREF insider’s indirect ownership described?

The filing states that certain common stock is held through a limited partnership, and that Mr. Rosenberg disclaims beneficial ownership except to the extent of his pecuniary interest.