Rithm Capital affiliate paid in Rithm Property shares
Rithm Capital Corp., a 10% owner of Rithm Property Trust Inc., reported an internal restructuring-type transaction rather than an open-market trade.
Rhea-AI Filing Summary
Rithm Capital Corp., a 10% owner of Rithm Property Trust Inc., reported an internal restructuring-type transaction rather than an open-market trade. An affiliate, RCM GA Manager LLC, received 110,794 shares of common stock at $14.50 per share as payment of a quarterly management fee under a management agreement.
These shares are owned directly by RCM GA Manager LLC as compensation for advisory services to Rithm Property Trust and its subsidiaries. The filing notes that Rithm Capital Corp. disclaims beneficial ownership of these securities except to the extent of its pecuniary interest. Following the transaction, indirect holdings reported were 290,111 shares, and a separate holding line shows 476,032 shares held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 110,794 shares
Other
2 txns
Insider
Rithm Capital Corp.
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock, par value $0.01 per share | 110,794 | $14.50 | $1.61M |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
Common Stock, par value $0.01 per share — 290,111 shares (Indirect, See Footnote 2);
Common Stock, par value $0.01 per share — 476,032 shares (Direct)
Footnotes (2)
- F1. Reflects shares issued by the Issuer to RCM GA Manager LLC (the "Adviser"), an affiliate of the reporting person, as payment of the quarterly management fee, which can be paid in cash or shares of the Issuer's common stock at the election of the Adviser, as compensation for the services the Adviser provides to the Issuer and its subsidiaries, pursuant to, and subject to the terms and conditions of, the management agreement among the Issuer, Great Ajax Operating Partnership LP and the Adviser.
- F2. These shares are owned directly by RCM GA Manager LLC. The reporting person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.
Key Figures
Shares issued as fee: 110,794 shares
Fee share price: $14.50 per share
Indirect holdings after transaction: 290,111 shares
+1 more
4 metrics
Shares issued as fee
110,794 shares
Quarterly management fee paid in stock
Fee share price
$14.50 per share
Price used for management fee shares
Indirect holdings after transaction
290,111 shares
Shares reported as indirectly owned after J transaction
Direct holdings line
476,032 shares
Shares reported as directly held in holding entry
Key Terms
quarterly management fee, pecuniary interest, management agreement, indirect ownership
4 terms
quarterly management fee financial
"as payment of the quarterly management fee, which can be paid in cash or shares"
pecuniary interest financial
"disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein"
management agreement financial
"pursuant to, and subject to the terms and conditions of, the management agreement among the Issuer, Great Ajax Operating Partnership LP and the Adviser"
A management agreement is a written contract that sets out who runs a company or specific assets, what duties they must perform, how long they serve, and how they are paid and evaluated. Think of it as a job contract or a property manager’s lease: it tells investors who is steering the business, what rules they must follow, and how their performance will affect costs and returns, so it directly influences company strategy, risk and shareholder value.
indirect ownership financial
"These shares are owned directly by RCM GA Manager LLC. The reporting person disclaims beneficial ownership"
FAQ
What did Rithm Capital Corp. report in this Form 4 for RPT?
Rithm Capital Corp. reported that its affiliate, RCM GA Manager LLC, received 110,794 Rithm Property Trust shares at $14.50 per share as a quarterly management fee, rather than through an open-market purchase or sale.
Is this Rithm Property Trust (RPT) Form 4 a buy or sell transaction?
The Form 4 does not show an open-market buy or sell. Instead, it records shares issued to an affiliate, RCM GA Manager LLC, as payment of a quarterly management fee, categorized as an “other” restructuring-type transaction with code J.
What are Rithm Capital’s reported Rithm Property Trust (RPT) holdings after this Form 4?
After this transaction, the filing shows 290,111 Rithm Property Trust shares held indirectly through an affiliate and another 476,032 shares reported as directly held. The reporting person disclaims beneficial ownership except for its pecuniary interest.
Why was RCM GA Manager LLC paid in Rithm Property Trust (RPT) stock?
RCM GA Manager LLC was paid in stock under a management agreement where quarterly fees can be settled in cash or common shares. For this period, the adviser elected to receive 110,794 Rithm Property Trust shares at $14.50 per share as compensation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
