Yakira Capital cuts Seritage Growth Properties (NYSE: SRG) preferred holdings

Rhea-AI Filing Summary

Yakira Capital Management, Inc., a 10% owner of Seritage Growth Properties, reported an indirect sale of 5,072 7.00% Series A Cumulative Redeemable Preferred Shares on January 26, 2026 at a price of $24.1317 per share. After this transaction, entities advised by Yakira Capital Management collectively held 304,332 of these preferred shares indirectly. The shares are held in investment funds and portfolios such as Yakira Partners, Yakira Enhanced Offshore Fund and MAP 136, for which Yakira Capital Management has sole voting and investment discretion, while disclaiming beneficial ownership beyond 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

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OMB Number:			3235-0287
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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)
01/26/2026

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	01/26/2026		S		5,072	D	$24.1317	304,332	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	01/27/2026
	** 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).
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FAQ

What insider activity did Yakira Capital Management report for SRG on January 26, 2026?

Yakira Capital Management reported an indirect sale of 5,072 Seritage Growth Properties 7.00% Series A Cumulative Redeemable Preferred Shares on January 26, 2026 at a price of $24.1317 per share.

How many Seritage 7.00% Series A preferred shares are indirectly held after this Yakira Capital Management transaction?

Following the reported sale, investment entities advised by Yakira Capital Management, Inc. collectively held 304,332 Seritage 7.00% Series A Cumulative Redeemable Preferred Shares indirectly.

Is the Yakira Capital Management transaction in Seritage Growth Properties shares direct or indirect?

The transaction is reported as indirect ownership. The preferred shares are held by funds and portfolios such as Yakira Partners, Yakira Enhanced Offshore Fund and MAP 136 Segregated Portfolio, for which Yakira Capital Management has voting and investment discretion.

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

No. Yakira Capital Management disclaims beneficial ownership of the reported Seritage preferred shares, except to the extent of its pecuniary interest, even though it has sole voting and investment discretion for the client funds that hold them.

What class of Seritage Growth Properties securities was involved in this Yakira Capital Management sale?

The transaction involved 7.00% Series A Cumulative Redeemable Preferred Shares of Seritage Growth Properties, rather than the company’s common equity.