Funds advised by Yakira Capital cut Seritage (SRG) preferred share stake

Rhea-AI Filing Summary

Yakira Capital Management, Inc., a 10% owner of Seritage Growth Properties, reported indirect sales of the company’s 7.00% Series A Cumulative Redeemable Preferred Shares. On February 4, 2026, entities it advises sold 2,554 preferred shares at $24.1251 each, followed on February 5, 2026 by a sale of 1,030 shares at $24.0841 each.

After these transactions, 300,748 preferred shares were reported as indirectly beneficially owned. The securities are held by Yakira Partners, Yakira Enhanced Offshore Fund Ltd., and MAP 136 Segregated Portfolio, and Yakira Capital Management disclaims beneficial ownership except to the extent of its pecuniary interest.

Insider Trade Summary

Net Seller: 3,584 shares ($86,422)

Net Sell 2 txns

Insider Yakira Capital Management, Inc.

Role 10% Owner

Sold 3,584 shs ($86K)

Type	Security	Shares	Price	Value
Sale	7.00% Series A Cumulative Redeemable Preferred Shares	1,030	$24.0841	$25K
Sale	7.00% Series A Cumulative Redeemable Preferred Shares	2,554	$24.1251	$62K

Holdings After Transaction: 7.00% Series A Cumulative Redeemable Preferred Shares — 300,748 shares (Indirect, See Footnote)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Yakira Capital Management, Inc.

(Last) (First) (Middle)

1555 POST ROAD EAST, SUITE 202

(Street)

WESTPORT CT 06880

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Seritage Growth Properties [ SRG-PA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/04/2026

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
7.00% Series A Cumulative Redeemable Preferred Shares	02/04/2026		S		2,554	D	$24.1251	301,778	I	See Footnote(1)
7.00% Series A Cumulative Redeemable Preferred Shares	02/05/2026		S		1,030	D	$24.0841	300,748	I	See Footnote(1)

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. Yakira Capital Management, Inc., a Delaware corporation (the "Reporting Person"), serves as investment advisors to each of (i) Yakira Partners, L.P., a Delaware limited partnership ("Yakira Partners"), (ii) Yakira Enhanced Offshore Fund Ltd., a Cayman Islands exempted company ("Yakira Offshore") and (iii) MAP 136 Segregated Portfolio, a Cayman Islands exempted company ("MAP 136") and has sole voting and investment discretion with respects to the securities reported herein which are held by Yakira Partners, Yakira Offshore and MAP 136. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Reporting Person is the beneficial owner of the securities reported herein for the purpose of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose, except to the extent of Reporting Person's pecuniary interest therein.

	/s/ Nicholas Sabatini, CFO & CCO	02/05/2026
	** 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.

FAQ

What insider activity did Yakira Capital Management report for Seritage (SRG)?

Yakira Capital Management reported indirect sales of Seritage’s 7.00% Series A Cumulative Redeemable Preferred Shares on February 4 and 5, 2026. The transactions reduced holdings to 300,748 preferred shares reported as indirectly beneficially owned after the final sale.

How many Seritage preferred shares were sold in this Form 4 filing?

Entities advised by Yakira Capital Management sold 2,554 Seritage 7.00% Series A preferred shares on February 4, 2026, and 1,030 shares on February 5, 2026. These non-derivative transactions were reported as indirect sales on behalf of advised funds.

What prices were received for the Seritage 7.00% Series A preferred share sales?

The February 4, 2026 sale of Seritage 7.00% Series A preferred shares was executed at $24.1251 per share. The February 5, 2026 sale was executed at $24.0841 per share. Both sales were reported as indirect transactions by entities advised by Yakira Capital Management.

How many Seritage preferred shares remain after the reported transactions?

After the February 5, 2026 transaction, 300,748 Seritage 7.00% Series A Cumulative Redeemable Preferred Shares were reported as indirectly beneficially owned. This figure reflects holdings by Yakira Partners, Yakira Enhanced Offshore Fund Ltd., and MAP 136 Segregated Portfolio, after the reported sales.

Who actually holds the Seritage preferred shares linked to Yakira Capital’s Form 4?

The preferred shares are held by Yakira Partners, L.P., Yakira Enhanced Offshore Fund Ltd., and MAP 136 Segregated Portfolio. Yakira Capital Management serves as investment adviser with sole voting and investment discretion, while disclaiming beneficial ownership beyond its pecuniary interest in these securities.

Does Yakira Capital Management claim full beneficial ownership of the Seritage shares?

No. Yakira Capital Management expressly disclaims beneficial ownership of the Seritage preferred shares reported, except to the extent of its pecuniary interest. The shares are held by the underlying funds it advises, over which it has sole voting and investment discretion.