Sunrise Realty (SUNS) Insider Purchases Raise Direct Ownership to 2.92M Shares

Rhea-AI Filing Summary

Sunrise Realty Trust insider purchases increased reported ownership. Leonard M. Tannenbaum, Executive Chairman, Director and >10% owner, reported purchases of common stock on 08/22/2025 and 08/26/2025 totaling 30,200 shares at weighted-average prices of $11.00 and $10.79 respectively, bringing his direct beneficial ownership to 2,923,226 shares. The filing also discloses significant indirect holdings: 448,681 shares held by the Tannenbaum Family Foundation, 15,000 shares in the Sunny 5 Irrevocable Trust, 58,958 shares in the Tannenbaum Family 2012 Trust, 33,132 shares held by his spouse, and 1,000 shares held as UTMA custodian for his son. Several indirect positions are disclaimed as not directly beneficial to the reporting person.

Positive

• Material insider purchases: Reporting Person acquired 30,200 shares on 08/22/2025 and 08/26/2025, increasing direct ownership to 2,923,226 shares.

Negative

• Significant portion of holdings are indirect through trusts and foundation where beneficial ownership is disclaimed, which may limit direct control signals.

Insights

Financial Analyst

TL;DR: Executive Chairman materially added to direct stake; overall holdings remain concentrated with substantial indirect positions.

The reported purchases total 30,200 shares acquired across two dates at weighted-average prices of $11.00 and $10.79, increasing direct beneficial ownership to 2,923,226 shares. For investors, insider purchases by a >10% owner can signal confidence in the issuer, while large indirect holdings via family trusts and foundations indicate sustained long-term exposure rather than short-term trading. Transaction sizes are modest relative to the total direct holdings disclosed, suggesting incremental accumulation rather than a strategic shift in control.

Corporate Governance Expert

TL;DR: Multiple indirect holdings and disclaimers reflect typical estate/trust structures; no governance changes reported.

The filing documents customary trustee and foundation arrangements: shares held by the Tannenbaum Family Foundation and family trusts with co-trustees are expressly disclaimed as direct beneficial ownership except for any pecuniary interest. The report bears a signature by an attorney-in-fact, indicating delegated filing authority. There are no executive departures, new appointments, option grants, or related-party transactions disclosed in this Form 4.

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
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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^*

TANNENBAUM LEONARD M

(Last) (First) (Middle)

525 OKEECHOBEE BLVD

SUITE 1650

(Street)

WEST PALM BEACH FL 33401

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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
Common Stock	08/22/2025		P		20,200	A	$11(1)	2,913,226	D
Common Stock	08/26/2025		P		10,000	A	$10.79(2)	2,923,226	D
Common Stock								448,681	I	See footnote(3)
Common Stock								15,000	I	See footnote(4)
Common Stock								1,000	I	By reporting person as UTMA custodian for son
Common Stock								58,958	I	See footnote(5)
Common Stock								33,132	I	Held by spouse(6)

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. This transaction was executed in multiple trades ranging from $10.69 to $11.00; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

2. This transaction was executed in multiple trades ranging from $10.75 to $10.79; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

3. These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

4. These shares are held by the Sunny 5 Irrevocable Trust for benefit of certain members of the Reporting Person's family, for which Jeffrey Boccuzzi is a Co-Trustee. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

5. These shares are held by the Tannenbaum Family 2012 Trust for benefit of certain members of the Reporting Person's family, for which Jeffrey Boccuzzi is a Co-Trustee. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

6. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

Remarks:

	/s/ Brandon Hetzel, as Attorney-in-Fact	08/26/2025
	** 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.
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FAQ

What transactions did Leonard M. Tannenbaum report on Form 4 for SUNS?

He reported purchases of 20,200 shares on 08/22/2025 at a weighted-average price of $11.00 and 10,000 shares on 08/26/2025 at a weighted-average price of $10.79.

How many SUNS shares does the reporting person directly own after these transactions?

The filing shows 2,923,226 shares beneficially owned directly following the reported purchases.

Are there any indirect SUNS holdings disclosed for the reporting person?

Yes. The filing discloses indirect holdings including 448,681 shares (Tannenbaum Family Foundation), 58,958 shares (Tannenbaum Family 2012 Trust), 15,000 shares (Sunny 5 Irrevocable Trust), 33,132 shares held by spouse, and 1,000 shares as UTMA custodian for his son.

Did the reporting person disclaim beneficial ownership of any shares?

Yes. The report states the reporting person disclaims beneficial ownership of certain trust- and spouse-held shares except to the extent of any pecuniary interest.

Who signed the Form 4 filing for the reporting person?

The filing was signed by Brandon Hetzel, as Attorney-in-Fact on 08/26/2025.