Ready Capital Corp SEC Filings

Marshall Meredith reported acquisition or exercise transactions in this Form 4 filing.

Ready Capital Corp director Marshall Meredith reported an equity award of company stock. On March 5, 2026, he was granted 58,252 shares of restricted Common Stock under the Ready Capital Corporation 2023 Equity Incentive Plan at no cash cost.

The restricted shares will vest in four equal installments on March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. After this grant, Meredith directly owns 98,346 shares of Ready Capital common stock.

Ready Capital Corp director Nathan E. Gilbert increased his stake through open-market purchases and an equity award. He bought 10,000 shares of Common Stock on March 5, 2026 at $2.020 per share and 30,000 shares on March 6, 2026 at $1.947 per share.

On March 5, 2026 he was also granted 58,252 shares of restricted Common Stock under the Ready Capital Corporation 2023 Equity Incentive Plan, vesting in four equal installments on March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. After these transactions, he directly owned 216,358 shares, with an additional 7,000 shares held indirectly by his spouse.

Ready Capital Corp director Nathan E. Gilbert increased his stake through open-market purchases and an equity award. He bought 10,000 shares of Common Stock on March 5, 2026 at $2.020 per share and 30,000 shares on March 6, 2026 at $1.947 per share.

On March 5, 2026 he was also granted 58,252 shares of restricted Common Stock under the Ready Capital Corporation 2023 Equity Incentive Plan, vesting in four equal installments on March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. After these transactions, he directly owned 216,358 shares, with an additional 7,000 shares held indirectly by his spouse.

Ahlborn Andrew reported acquisition or exercise transactions in this Form 4 filing.

Ready Capital Corp reported new equity awards for its Chief Financial Officer, Andrew Ahlborn. On March 2, 2026, he received a special time-based retention grant of 600,000 shares of restricted Common Stock, scheduled to vest on December 31, 2028, subject to continued employment with certain exceptions.

On the same date, he was also granted a special performance-based retention award of 1,800,000 performance stock units (PSUs), which may vest in up to ten approximately equal parts if specified 30-day volume weighted average price milestones are met and he remains employed. These PSUs will be settled in shares of Common Stock if stockholders approve a Plan Amendment at the 2026 annual meeting to increase the equity pool, or otherwise will be settled in cash.

On March 5, 2026, he received an additional 291,262 shares of restricted Common Stock under the 2023 Equity Incentive Plan, vesting in three equal annual installments on March 5, 2027, 2028, and 2029, also conditioned on continued employment.

Ahlborn Andrew reported acquisition or exercise transactions in this Form 4 filing.

Ready Capital Corp reported new equity awards for its Chief Financial Officer, Andrew Ahlborn. On March 2, 2026, he received a special time-based retention grant of 600,000 shares of restricted Common Stock, scheduled to vest on December 31, 2028, subject to continued employment with certain exceptions.

On the same date, he was also granted a special performance-based retention award of 1,800,000 performance stock units (PSUs), which may vest in up to ten approximately equal parts if specified 30-day volume weighted average price milestones are met and he remains employed. These PSUs will be settled in shares of Common Stock if stockholders approve a Plan Amendment at the 2026 annual meeting to increase the equity pool, or otherwise will be settled in cash.

On March 5, 2026, he received an additional 291,262 shares of restricted Common Stock under the 2023 Equity Incentive Plan, vesting in three equal annual installments on March 5, 2027, 2028, and 2029, also conditioned on continued employment.

Ready Capital Corporation is a REIT-managed, multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market commercial real estate and small business loans. It focuses on LMM bridge, construction, fixed-rate and agency multifamily loans plus SBA and USDA small business lending.

As of December 31, 2025, the loan portfolio totaled $5.9 billion across 8,931 loans, with 81.4% in LMM Commercial Real Estate and 18.6% in Small Business Lending. Book value grew from $536 million in 2017 to about $1.6 billion in 2025, a 15% CAGR.

The company is externally managed by Waterfall Asset Management and uses securitizations and other borrowings, with total leverage of 3.5x and recourse leverage of 1.6x. It highlights material risks including credit, liquidity, inflation, cybersecurity and approximately $550 million of debt maturing in 2026. Ready Capital sold 27 loans totaling $597.3 million for expected net proceeds of $130.7 million and repaid its 5.75% Senior Notes due 2026 at maturity.

Ready Capital Corporation is a REIT-managed, multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market commercial real estate and small business loans. It focuses on LMM bridge, construction, fixed-rate and agency multifamily loans plus SBA and USDA small business lending.

As of December 31, 2025, the loan portfolio totaled $5.9 billion across 8,931 loans, with 81.4% in LMM Commercial Real Estate and 18.6% in Small Business Lending. Book value grew from $536 million in 2017 to about $1.6 billion in 2025, a 15% CAGR.

The company is externally managed by Waterfall Asset Management and uses securitizations and other borrowings, with total leverage of 3.5x and recourse leverage of 1.6x. It highlights material risks including credit, liquidity, inflation, cybersecurity and approximately $550 million of debt maturing in 2026. Ready Capital sold 27 loans totaling $597.3 million for expected net proceeds of $130.7 million and repaid its 5.75% Senior Notes due 2026 at maturity.

Ready Capital Corporation reported a heavy loss for the quarter and year ended December 31, 2025, driven by credit costs and realized losses on investments. For the fourth quarter, net loss from continuing operations was $232.6 million, or $(1.46) per common share, with a distributable loss per common share of $(0.43) and $(0.09) before realized losses.

The company’s loan portfolio totaled $5.9 billion, but it recorded a fourth-quarter provision for loan losses of $149.9 million and realized losses on sale of investments of $65.0 million, contributing to a full-year net loss of $221.1 million. Book value per common share declined to $8.79 as of December 31, 2025, compared with $10.61 a year earlier, while total assets fell from $10.1 billion to $7.8 billion over the same period.

Management highlighted continued execution of a liquidity plan, including selling 34 loans with $855.3 million of unpaid principal balance after year-end and retiring the 5.75% Senior Unsecured Note due February 2026. The company declared a modest common dividend of $0.01 per share for the quarter, reflecting pressure on earnings and capital.

Ready Capital Corporation reported a heavy loss for the quarter and year ended December 31, 2025, driven by credit costs and realized losses on investments. For the fourth quarter, net loss from continuing operations was $232.6 million, or $(1.46) per common share, with a distributable loss per common share of $(0.43) and $(0.09) before realized losses.

The company’s loan portfolio totaled $5.9 billion, but it recorded a fourth-quarter provision for loan losses of $149.9 million and realized losses on sale of investments of $65.0 million, contributing to a full-year net loss of $221.1 million. Book value per common share declined to $8.79 as of December 31, 2025, compared with $10.61 a year earlier, while total assets fell from $10.1 billion to $7.8 billion over the same period.

Management highlighted continued execution of a liquidity plan, including selling 34 loans with $855.3 million of unpaid principal balance after year-end and retiring the 5.75% Senior Unsecured Note due February 2026. The company declared a modest common dividend of $0.01 per share for the quarter, reflecting pressure on earnings and capital.

Ready Capital Corp and the New York Stock Exchange are removing the company’s 5.75% Senior Notes due 2026 from listing and registration under Section 12(b) of the Securities Exchange Act of 1934.

The NYSE certifies it has followed its own rules to strike this class of notes from listing, and the issuer has complied with the exchange’s rules and SEC requirements governing the voluntary withdrawal of this security from the exchange.

Ready Capital Corp and the New York Stock Exchange are removing the company’s 5.75% Senior Notes due 2026 from listing and registration under Section 12(b) of the Securities Exchange Act of 1934.

The NYSE certifies it has followed its own rules to strike this class of notes from listing, and the issuer has complied with the exchange’s rules and SEC requirements governing the voluntary withdrawal of this security from the exchange.

The Vanguard Group reports beneficial ownership of 8,607,299 shares of Ready Capital Corp common stock, representing 5.3% of the class as of 12/31/2025. Vanguard has shared voting power over 1,153,609 shares and shared dispositive power over all 8,607,299 shares, with no sole voting or dispositive power.

Vanguard states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Ready Capital. It notes an internal realignment effective 01/12/2026, after which certain subsidiaries or business divisions may report beneficial ownership separately while pursuing the same investment strategies.

The Vanguard Group reports beneficial ownership of 8,607,299 shares of Ready Capital Corp common stock, representing 5.3% of the class as of 12/31/2025. Vanguard has shared voting power over 1,153,609 shares and shared dispositive power over all 8,607,299 shares, with no sole voting or dispositive power.

Vanguard states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Ready Capital. It notes an internal realignment effective 01/12/2026, after which certain subsidiaries or business divisions may report beneficial ownership separately while pursuing the same investment strategies.

BlackRock, Inc. has filed an amended ownership report showing it beneficially owns 13,045,875 shares of Ready Capital Corporation common stock, representing 8.0% of the class as of the event date. BlackRock reports sole voting power over 12,690,943 shares and sole dispositive power over 13,045,875 shares, with no shared voting or dispositive power.

The filing explains that these holdings are aggregated across certain BlackRock business units, while other units’ holdings are disaggregated. Various underlying clients and investors have the right to receive dividends or sale proceeds from Ready Capital shares, but no single person has more than 5% of the outstanding common stock. BlackRock certifies that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of Ready Capital.

BlackRock, Inc. has filed an amended ownership report showing it beneficially owns 13,045,875 shares of Ready Capital Corporation common stock, representing 8.0% of the class as of the event date. BlackRock reports sole voting power over 12,690,943 shares and sole dispositive power over 13,045,875 shares, with no shared voting or dispositive power.

The filing explains that these holdings are aggregated across certain BlackRock business units, while other units’ holdings are disaggregated. Various underlying clients and investors have the right to receive dividends or sale proceeds from Ready Capital shares, but no single person has more than 5% of the outstanding common stock. BlackRock certifies that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of Ready Capital.

Howard Amster and affiliated entities filed Amendment No. 2 to Schedule 13D regarding Ready Capital Corp (RC), reporting beneficial ownership of 14,242,965 shares, or 8.8% of the common stock. The percentage is based on 162,126,276 shares outstanding as of November 6, 2025. Amster reports 13,227,973 shares with sole voting and dispositive power and 1,014,992 shares with shared voting and dispositive power.

The filing lists recent open‑market purchases over the past 60 days across multiple affiliated entities. Notable trades include 611,526 shares at $2.89 on 11/07/25 (2019 CRUT #1), 342,000 shares at $2.89 on 11/07/25 (Howard Amster), 170,000 shares at $2.89 on 10/31/25, and 150,000 shares at $3.05 on 10/30/25. Earlier buys included 387,450 shares at $4.34 on 09/16/25 and 128,000 shares at $4.29 on 09/17/25. All transactions were conducted on the open market, with per‑day prices shown as weighted averages.

Howard Amster and affiliated entities filed Amendment No. 2 to Schedule 13D regarding Ready Capital Corp (RC), reporting beneficial ownership of 14,242,965 shares, or 8.8% of the common stock. The percentage is based on 162,126,276 shares outstanding as of November 6, 2025. Amster reports 13,227,973 shares with sole voting and dispositive power and 1,014,992 shares with shared voting and dispositive power.

The filing lists recent open‑market purchases over the past 60 days across multiple affiliated entities. Notable trades include 611,526 shares at $2.89 on 11/07/25 (2019 CRUT #1), 342,000 shares at $2.89 on 11/07/25 (Howard Amster), 170,000 shares at $2.89 on 10/31/25, and 150,000 shares at $3.05 on 10/30/25. Earlier buys included 387,450 shares at $4.34 on 09/16/25 and 128,000 shares at $4.29 on 09/17/25. All transactions were conducted on the open market, with per‑day prices shown as weighted averages.

Ready Capital Corporation filed its Q3 2025 10‑Q, detailing a smaller balance sheet and mixed operating results. Total assets were $8.33 billion, down from $10.14 billion at year‑end, as loans, net reached $4.36 billion and real estate owned rose to $632.99 million. Cash and cash equivalents were $147.51 million.

On the income side, for the quarter ended September 30, 2025, interest income was $137.49 million and interest expense was $126.97 million, yielding net interest income of $10.52 million before credit costs. A $37.98 million provision for loan losses turned net interest income after provision to a loss of $27.46 million. Results were heavily influenced by fair‑value and portfolio actions: valuation recovery on loans held for sale was $178.23 million, offset by a $160.40 million net realized loss on financial instruments and real estate owned. The quarter also included a $24.47 million gain on bargain purchase.

Liability mix shifted with securitized debt of consolidated VIEs at $1.29 billion (from $3.58 billion) and senior secured notes at $721.15 million. Corporate debt stood at $666.62 million. Stockholders’ equity was $1.88 billion. Shares outstanding were 162,126,276 as of November 6, 2025.

Ready Capital Corporation filed its Q3 2025 10‑Q, detailing a smaller balance sheet and mixed operating results. Total assets were $8.33 billion, down from $10.14 billion at year‑end, as loans, net reached $4.36 billion and real estate owned rose to $632.99 million. Cash and cash equivalents were $147.51 million.

On the income side, for the quarter ended September 30, 2025, interest income was $137.49 million and interest expense was $126.97 million, yielding net interest income of $10.52 million before credit costs. A $37.98 million provision for loan losses turned net interest income after provision to a loss of $27.46 million. Results were heavily influenced by fair‑value and portfolio actions: valuation recovery on loans held for sale was $178.23 million, offset by a $160.40 million net realized loss on financial instruments and real estate owned. The quarter also included a $24.47 million gain on bargain purchase.

Liability mix shifted with securitized debt of consolidated VIEs at $1.29 billion (from $3.58 billion) and senior secured notes at $721.15 million. Corporate debt stood at $666.62 million. Stockholders’ equity was $1.88 billion. Shares outstanding were 162,126,276 as of November 6, 2025.