Ellington Financial Inc. — Director's Dealing 2013

Feb 14, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Ellington Financial LLC (EFC)
CIK: 0001411342
Period of Report: 2013-02-12

Reporting Person: Vranos Michael W (Director, Co-Chief Investment Officer, 10% Owner)
Reporting Person: VC INVESTMENTS LLC (10% Owner)
Reporting Person: EMG Holdings, L.P. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-02-12	Common shares	J	33254	$0.00	Acquired	2169378	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common shares	14294	Direct

Footnotes

F1: The shares were issued in connection with the fourth quarter 2012 incentive fee payable to Ellington Financial Management LLC ("EFM"), the issuer's manager, pursuant to a management agreement between the issuer and EFM.

F2: Of these 2,169,378 common shares, 1,892,619 common shares are owned directly by EMG Holdings, L.P. ("EMGH"), 86,461 common shares are directly owned by EFM and 190,298 common shares are held in family trusts for the benefit of EMGH partners (other than Mr. Vranos) for which Mr. Vranos acts as trustee. VC Investments LLC ("VC") is the general partner of EMGH and the managing member of EFM. Michael W. Vranos is the managing member of, and holds a controlling interest in, VC. Michael W. Vranos and VC together share the power to direct the voting and disposition of common shares held by EMGH and EFM, and may be regarded as the beneficial owners of the common shares. Each of Michael W. Vranos and VC disclaims beneficial ownership of any common shares owned beneficially or of record by each other except to the extent of its or his pecuniary interest therein.

F3: Represents common shares owned directly by Michael W. Vranos.