Sunrise Realty Trust director acquires 1,500 merger shares

The shares comprised 775 restricted shares that remain subject to the original vesting schedule and vest on January 2, 2027, and 725 fully vested shares.

Available on EDGAR 11/06/2026 - 04:52 PM EST Accepted by SEC EDGAR 11/06/2026 - 04:52 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Sunrise Realty Trust, Inc. (SUNS) director Howard Ian Sudnow acquired 1,500 common shares on November 5, 2026, when Southern Realty Trust Inc. merged into a wholly owned Sunrise Realty Trust subsidiary. Each Southern Realty Trust share converted into 1.45 Sunrise Realty Trust shares, rounded up to the nearest whole share, and a cash amount of $0.05. Sudnow reported direct holdings of 1,500 shares after the transaction.

Insider Trade Summary

Other: 1,500 shares

Other 1 txn

Insider Sudnow Howard Ian

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock F1, F2	1,500	$0.00	$0.00

Holdings After Transaction: Common Stock — 1,500 shares (Direct)

Holdings Before and After: Common Stock, 0 to 1,500 shares (Direct)

Footnotes (2)

1. F1. Shares of Sunrise Realty Trust, Inc. (the "Issuer") common stock received on November 5, 2026 upon completion of the merger of Southern Realty Trust Inc. ("SRT") with and into a wholly owned subsidiary of the Issuer, in which each share of SRT common stock was converted into (i) 1.45 shares of Issuer common stock, rounded up to the nearest whole share and (ii) a cash amount equal to $0.05.
2. F2. Includes (i) 775 restricted shares of Issuer common stock received in exchange for 534 shares of SRT restricted common stock, which remain subject to the original vesting schedule and vest on January 2, 2027 and (ii) 725 fully vested shares of Issuer common stock received in exchange for 500 shares of SRT common stock.

Key Figures

Common shares acquired: 1,500 shares Direct holdings after transaction: 1,500 shares Restricted shares received: 775 shares +3 more

6 metrics

Common shares acquired 1,500 shares Merger transaction on November 5, 2026

Direct holdings after transaction 1,500 shares Reported after the November 5, 2026 transaction

Restricted shares received 775 shares Received for 534 restricted Southern Realty Trust shares; vest January 2, 2027

Fully vested shares received 725 shares Received for 500 Southern Realty Trust shares

Merger conversion ratio 1.45 Sunrise Realty Trust shares per Southern Realty Trust share Shares rounded up to the nearest whole share

Cash amount per Southern Realty Trust share $0.05 Merger consideration

Key Terms

restricted shares, original vesting schedule, wholly owned subsidiary

3 terms

restricted shares financial

"775 restricted shares of Issuer common stock"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

original vesting schedule technical

"remain subject to the original vesting schedule"

wholly owned subsidiary technical

"with and into a wholly owned subsidiary of the Issuer"

A wholly owned subsidiary is a company whose entire ownership is held by another company (the parent), so the parent controls decisions, operations, and finances. Think of it as a fully controlled branch that runs as its own legal entity but whose results flow straight into the parent’s financial statements; investors watch these structures because they affect consolidated revenue, risk exposure, and how profits, liabilities, and cash flow are allocated across the corporate group.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many SUNS shares did director Howard Ian Sudnow acquire?

Howard Ian Sudnow acquired 1,500 shares of Sunrise Realty Trust common stock on November 5, 2026, when Southern Realty Trust Inc. merged into a wholly owned Sunrise Realty Trust subsidiary. He reported direct holdings of 1,500 shares after the transaction.

How were Howard Ian Sudnow's 1,500 SUNS shares classified?

The shares included 775 restricted shares received in exchange for 534 restricted Southern Realty Trust shares; they remain subject to the original vesting schedule and vest on January 2, 2027. The other 725 shares were fully vested and received in exchange for 500 Southern Realty Trust shares.

What were the SUNS merger exchange terms?

Each Southern Realty Trust common share converted into 1.45 Sunrise Realty Trust shares, rounded up to the nearest whole share, and a cash amount equal to $0.05.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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^*

Sudnow Howard Ian

(Last) (First) (Middle)

525 OKEECHOBEE BLVD

SUITE 1650

(Street)

WEST PALM BEACH FLORIDA 33401

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Sunrise Realty Trust, Inc. [ SUNS ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Common Stock	11/05/2026		J(1)		1,500(2)	A	$0	1,500	D

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. Shares of Sunrise Realty Trust, Inc. (the "Issuer") common stock received on November 5, 2026 upon completion of the merger of Southern Realty Trust Inc. ("SRT") with and into a wholly owned subsidiary of the Issuer, in which each share of SRT common stock was converted into (i) 1.45 shares of Issuer common stock, rounded up to the nearest whole share and (ii) a cash amount equal to $0.05.

2. Includes (i) 775 restricted shares of Issuer common stock received in exchange for 534 shares of SRT restricted common stock, which remain subject to the original vesting schedule and vest on January 2, 2027 and (ii) 725 fully vested shares of Issuer common stock received in exchange for 500 shares of SRT common stock.

Remarks:

	/s/ Brandon Hetzel, as Attorney-in-Fact	11/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)