KKR Real Estate Finance: 3,358 shares withheld for tax

The director’s reported direct common-stock position after the withholding transaction was 215,775 shares.

Rhea-AI Filing Summary

KKR Real Estate Finance Trust Inc. (KREF) director Christen E.J. Lee reported 3,358 common shares withheld on October 1, 2026, at $6.21 per share to satisfy tax liability connected with vesting of restricted stock units. Lee’s reported direct common-stock position after the transaction was 215,775 shares. Indirect entries identify 5,000 shares held by Lee’s children and 22,646 shares held by a trust for their benefit, with Lee as trustee; other entries describe a trust for which Lee is trustee and shares held by Lee’s spouse. Lee disclaims beneficial ownership of indirectly reported securities except to the extent of pecuniary interest.

Insider Trade Summary

Tax Withholding: 3,358 shares

Tax Withholding 4 txns

Insider Lee Christen E.J.

Role Director

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock F1	3,358	$6.21	$21K
holding	Common Stock F2	--	--	--
holding	Common Stock F3	--	--	--
holding	Common Stock F4	--	--	--

Holdings After Transaction: Common Stock — 215,775 shares (Direct); Common Stock — 35,040 shares (Indirect, See footnote.)

Footnotes (4)

1. F1. Reflects shares withheld to satisfy the Reporting Person's tax liability in connection with the vesting of restricted stock units.
2. F2. Consists of 5,000 shares held by the Reporting Person's children and 22,646 shares held by a trust for the benefit of the Reporting Person's children for which the Reporting Person is the trustee.
3. F3. Held by a trust for which the Reporting Person is the trustee.
4. F4. Held by the Reporting Person's spouse.

Key Figures

Common shares withheld for tax liability: 3,358 shares Price per share: $6.21 per share Direct common shares following transaction: 215,775 shares +2 more

5 metrics

Common shares withheld for tax liability 3,358 shares October 1, 2026

Price per share $6.21 per share October 1, 2026 transaction

Direct common shares following transaction 215,775 shares After the October 1, 2026 transaction

Shares held by children 5,000 shares Indirect holding

Shares held by trust for children 22,646 shares Indirect holding; Lee is trustee

Key Terms

restricted stock units, tax liability, beneficial ownership, pecuniary interest

4 terms

restricted stock units financial

"vesting of restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax liability financial

"satisfy the Reporting Person's tax liability"

beneficial ownership regulatory

"disclaims beneficial ownership of such securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest regulatory

"pecuniary interest therein"

FAQ

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

How many KREF shares did a director have withheld, and why?

Christen E.J. Lee, a director, had 3,358 common shares withheld on October 1, 2026, at $6.21 per share to satisfy tax liability connected with vesting of restricted stock units; no Rule 10b5-1 plan is reported.

What indirect KREF share holdings were reported?

The indirect entries identify 5,000 shares held by Christen E.J. Lee’s children and 22,646 shares held by a trust for their benefit, for which Lee is trustee. Additional entries identify a trust for which Lee is trustee and shares held by Lee’s spouse. Lee disclaims beneficial ownership of indirectly reported securities except to the extent of pecuniary interest.

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

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Available on EDGAR 10/05/2026 - 04:30 PM Accepted by SEC EDGAR 10/05/2026 - 04:30 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^*

Lee Christen E.J.

(Last) (First) (Middle)

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

30 HUDSON YARDS

(Street)

NEW YORK NEW YORK 10001

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

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

X	Form filed by One Reporting Person
	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
Common Stock	10/01/2026		F(1)		3,358	D	$6.21	215,775	D
Common Stock								27,646	I	See footnote.(2)
Common Stock								3,664	I	See footnote.(3)
Common Stock								3,730	I	See footnote.(4)

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 shares withheld to satisfy the Reporting Person's tax liability in connection with the vesting of restricted stock units.

2. Consists of 5,000 shares held by the Reporting Person's children and 22,646 shares held by a trust for the benefit of the Reporting Person's children for which the Reporting Person is the trustee.

3. Held by a trust for which the Reporting Person is the trustee.

4. Held by the Reporting Person's spouse.

Remarks:

Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended, the Reporting Person states that this filing shall not be an admission that the Reporting Person is the beneficial owner of any of the securities reported herein as indirectly owned, and the Reporting Person disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein.

	/s/ Patrick Mattson, as Attorney-in-Fact	10/05/2026
	** 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)