Ellington Credit Co — Director's Dealing 2016

Jan 26, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Ellington Residential Mortgage REIT (EARN)
CIK: 0001560672
Period of Report: 2016-01-22

Reporting Person: Vranos Michael W (Director, Co-Chief Investment Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-22	Common shares	P	2320	$10.72	Acquired	10480	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common shares	127779	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $10.40 to $10.84. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. All purchases pursuant to this transaction were made pursuant to a 10b5-1 trading plan adopted by the reporting person.

F2: Represents common shares held directly by EMG Holdings, L.P., or "EMGH," VC Investments L.L.C., or "VC," and Michael W. Vranos. Each of EMGH, VC, and Mr. Vranos has shared voting and dispositive power over these shares. VC is the general partner of EMGH. Mr. Vranos is the managing member of, and holds a controlling interest in VC. Each of VC Investments, EMGH and Mr. Vranos disclaims beneficial ownership of these shares except to the extent of it or his pecuniary interest therein.