Yakira Capital (SRG) funds cut 9,600 Seritage 7% preferred shares

Rhea-AI Filing Summary

Yakira Capital Management, Inc., as investment adviser to several funds, reported indirect open-market sales of 9,600 Seritage Growth Properties 7.00% Series A Cumulative Redeemable Preferred Shares. The funds sold 7,375 shares on February 23, 2026 at $23.95 per share and 2,225 shares on February 24, 2026 at an average price of $24.0963.

After these transactions, entities advised by Yakira Capital Management, Inc. indirectly held 284,768 preferred shares. Yakira Capital Management, Inc. has sole voting and investment discretion over these securities but disclaims beneficial ownership except to the extent of its pecuniary interest.

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

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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^*

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)
02/23/2026

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	02/23/2026		S		7,375	D	$23.95	286,993	I	See Footnote(1)
7.00% Series A Cumulative Redeemable Preferred Shares	02/24/2026		S		2,225	D	$24.0963	284,768	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	02/24/2026
	** 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).
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FAQ

What did Yakira Capital Management report in this Seritage (SRG) Form 4?

Yakira Capital Management, Inc. reported indirect open-market sales of 9,600 Seritage 7.00% Series A preferred shares. The trades were executed for funds it advises, and it retains voting and investment discretion while disclaiming beneficial ownership except for its pecuniary interest.

How many Seritage preferred shares were sold by entities advised by Yakira Capital?

Entities advised by Yakira Capital Management, Inc. sold a total of 9,600 Seritage 7.00% Series A preferred shares. The sales occurred over two days and reduced the indirect holdings of these funds while leaving a remaining position disclosed after the final transaction.

On what dates did the Seritage (SRG) preferred share sales occur?

The reported Seritage 7.00% Series A preferred share sales occurred on February 23, 2026 and February 24, 2026. These two trading days together accounted for the entire 9,600-share reduction in the indirect holdings managed by Yakira Capital Management, Inc.

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

The entities advised by Yakira Capital Management, Inc. sold Seritage 7.00% Series A preferred shares at $23.95 per share on February 23, 2026 and at an average price of $24.0963 per share on February 24, 2026, reflecting two closely priced open-market transactions.

How many Seritage preferred shares remained after these transactions?

After the February 24, 2026 sale, entities advised by Yakira Capital Management, Inc. indirectly held 284,768 Seritage 7.00% Series A preferred shares. This figure reflects the position remaining following the 9,600-share series of open-market sales reported in the Form 4 filing.

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

Yakira Capital Management, Inc. disclaims beneficial ownership of the Seritage preferred shares held by its advised funds, except to the extent of its pecuniary interest. It reports having sole voting and investment discretion over these securities despite the beneficial ownership disclaimer language.