Leonard Tannenbaum Reports 4,406-Share Purchase in SUNS Form 4
Rhea-AI Filing Summary
Leonard M. Tannenbaum, Executive Chairman, Director and >10% owner of Sunrise Realty Trust, Inc. (SUNS), reported an open-market purchase of 4,406 shares of the issuer's common stock on 08/15/2025 at a weighted-average price of $10.50 per share. After the reported transaction the filing shows the Reporting Person directly beneficially owns 2,882,615 shares and indirectly beneficially owns additional shares held across related foundations and trusts totaling 556,771 shares (448,681; 15,000; 1,000; 58,958; plus 33,132 held by spouse). The report includes footnotes that several indirect holdings are held by the Tannenbaum Family Foundation and family trusts for which Mr. Tannenbaum disclaims beneficial ownership except to the extent of his pecuniary interest. The Form 4 was executed by an attorney-in-fact on 08/19/2025.
Positive
- Insider purchase disclosed: The Form 4 reports an open-market acquisition of 4,406 shares at a weighted-average price of $10.50 on 08/15/2025.
- Clear ownership disclosure: The filing itemizes direct ownership of 2,882,615 shares and lists indirect holdings with explanatory footnotes.
- Proper procedural execution: The Form 4 includes signature by attorney-in-fact and standard footnote explanations for indirect holdings and disclaimers.
Negative
- None.
Insights
TL;DR: A small open-market purchase by a large insider holder; ownership remains concentrated.
The reported 4,406-share purchase at a $10.50 weighted-average price on 08/15/2025 is modest relative to the Reporting Person's direct stake of 2,882,615 shares, indicating the transaction is immaterial to aggregate ownership levels. The filing discloses significant additional indirect holdings through a family foundation and trusts totaling 556,771 shares, with explicit disclaimers of beneficial ownership except for pecuniary interest.
For investors, this Form 4 documents a routine insider purchase and clarifies ownership structure but does not by itself signal a material change in control or capital structure.
TL;DR: Filing properly discloses direct and indirect holdings and includes standard disclaimers; procedural compliance appears met.
The Form 4 lists Mr. Tannenbaum's roles (Executive Chairman, Director, >10% owner) and reports the transaction code "P" for acquisition, the weighted-average price disclosure, and multiple footnotes explaining indirect holdings held by the Tannenbaum Family Foundation and family trusts. The report was signed by an attorney-in-fact on 08/19/2025, consistent with authorized filing practice. Footnote disclaimers limit asserted beneficial ownership where appropriate.
From a governance perspective, disclosures are specific about ownership vehicles and include the required procedural details; no material governance issues are disclosed in this filing.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 4,406 | $10.50 | $46K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- This transaction was executed in multiple trades ranging from $10.47 to $10.50; 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. 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. 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. 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. 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.
