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Ellington Financial Inc. — Director's Dealing 2016
Sep 15, 2016
32031_dirs_2016-09-15_6cbea20c-cdb3-4a1a-a425-762be6c4e97c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Ellington Financial LLC (EFC)
CIK: 0001411342
Period of Report: 2016-09-13
Reporting Person: SIMON RONALD I (Director)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2016-09-14 | Common shares rep. limited liabiilty company interests | M | 2475 | — | Acquired | 18026 | Indirect |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2016-09-13 | LTIP Units | $ | A | 2801 | Acquired | Common Shares (2801.0) | Direct | |
| 2016-09-14 | LTIP Units | $ | M | 2475 | Disposed | Common Shares (2475.0) | Direct |
Footnotes
F1: The shares are held in the Simon Family Trust (the "Trust"). Mr. Simon is a trustee of the Trust. Mr. Simon and his wife are the beneficiaries of the Trust. Mr. Simon disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F2: Represents a separate non-voting class of limited liability company interests ("LTIP Units") of Ellington Financial LLC (the "Company"), which are structured as profits interests. The LTIP Units were issued pursuant to, and are subject to the terms and conditions of, the Issuer's 2007 Incentive Plan for Individuals.
F3: The 2,801 LTIP Units remain forfeitable, subject to the reporting person's continued service as a member of the board of directors of the Company, until September 12, 2017. After the applicable forfeiture restrictions lapse, the LTIP Units may be converted at the election of the holder, into common shares representing limited liability interests of the Company ("Common Shares") on a one-for-one basis. The rights to convert LTIP Units into Common Shares do not have expiration dates.
F4: Represents the conversion of outstanding vested LTIP Units into common shares pursuant to the terms thereof. The conversion does not represent or involve a disposition for value. The 2,475 LTIP Units became convertible on September 14, 2016. The rights to convert LTIP Units into Common Shares do not have expiration dates.