0001200461-24-000009.txt : 20240712 0001200461-24-000009.hdr.sgml : 20240712 20240712194903 ACCESSION NUMBER: 0001200461-24-000009 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240710 FILED AS OF DATE: 20240712 DATE AS OF CHANGE: 20240712 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: TANNENBAUM LEONARD M CENTRAL INDEX KEY: 0001200461 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-41971 FILM NUMBER: 241115579 MAIL ADDRESS: STREET 1: 525 OKEECHOBEE BLVD., SUITE 1650 CITY: WEST PALM BEACH STATE: FL ZIP: 33401 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Sunrise Realty Trust, Inc. CENTRAL INDEX KEY: 0002012706 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 525 OKEECHOBEE BLVD., SUITE 1650 CITY: WEST PALM BEACH STATE: FL ZIP: 33401 BUSINESS PHONE: 561-510-2390 MAIL ADDRESS: STREET 1: 525 OKEECHOBEE BLVD., SUITE 1650 CITY: WEST PALM BEACH STATE: FL ZIP: 33401 4 1 wk-form4_1720828136.xml FORM 4 X0508 4 2024-07-10 0 0002012706 Sunrise Realty Trust, Inc. SUNS 0001200461 TANNENBAUM LEONARD M 525 OKEECHOBEE BLVD SUITE 1650 WEST PALM BEACH FL 33401 1 1 1 0 Executive Chairman 0 Common Stock 2024-07-10 4 P 0 10000 8.73 A 1270763 D Common Stock 2024-07-10 4 P 0 58958 10.56 A 58958 I See footnote Common Stock 2024-07-11 4 P 0 68086 11.49 A 128219 I See footnote Common Stock 24959 I Held by spouse Includes 1,260,763 shares received in connection with the spin-off of the Issuer from AFC Gamma, Inc., of which 48,455 shares are restricted shares received in the spin-off from restricted common stock granted under AFC Gamma, Inc. Stock Incentive Plan (the AFCG Plan) and 37,037 shares shall vest over a three-year period with approximately 33% vesting on each of the first, second and third anniversaries of January 2, 2024, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement, and 11,418 shares are restricted shares received in the spin-off from restricted common stock granted under the AFCG Plan on January 3, 2023, with approximately 50% of the remaining restricted shares vesting on each of January 3, 2025 and 2026, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement. This transaction was executed in multiple trades at prices ranging from $8.94 to $11.25; 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 a security holder of the issuer. 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. This transaction was executed in multiple trades at prices ranging from $10.85 to $12.54; 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 a security holder of the issuer. Includes 60,133 shares of common stock received in connection with the spin-off of the Issuer from AFC Gamma, Inc. 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. 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. /s/ Brandon Hetzel, as Attorney-in-Fact 2024-07-12