0001104659-18-015975.txt : 20180308
0001104659-18-015975.hdr.sgml : 20180308
20180308190121
ACCESSION NUMBER: 0001104659-18-015975
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20180306
FILED AS OF DATE: 20180308
DATE AS OF CHANGE: 20180308
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: HERBST FREDERICK C
CENTRAL INDEX KEY: 0001285197
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35808
FILM NUMBER: 18678031
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Sutherland Asset Management Corp
CENTRAL INDEX KEY: 0001527590
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 900729143
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1140 AVENUE OF THE AMERICAS, 7TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10036
BUSINESS PHONE: 212-257-4600
MAIL ADDRESS:
STREET 1: 1140 AVENUE OF THE AMERICAS, 7TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10036
FORMER COMPANY:
FORMER CONFORMED NAME: ZAIS Financial Corp.
DATE OF NAME CHANGE: 20110808
4
1
a4.xml
4
X0306
4
2018-03-06
0
0001527590
Sutherland Asset Management Corp
SLD
0001285197
HERBST FREDERICK C
1140 AVENUE OF THE AMERICAS, 7TH FLOOR
NEW YORK
NY
10036
0
1
0
0
Chief Financial Officer
Common Stock
2018-03-06
4
A
0
14439
0.00
A
32795
D
Common Stock
14733
I
By Sutherland REIT Holdings, LP.
On March 6, 2018, the reporting person was awarded 14,439 restricted shares of common stock under the 2012 Sutherland Asset Management Corporation Equity Incentive Plan. Pursuant to the terms of the award agreement, the 14,439 restricted shares of common stock will vest in equal increments of one-third on March 6, 2019, March 6, 2020, and March 6, 2021. The reporting person will receive dividends on the unvested shares of restricted common stock. The shares of common stock are held through FREDERICK C HERBST & CAROLYN B HERBST JT TEN, a joint tenant account of the reporting person and his wife.
These shares represent 14,733 shares of common stock of the Issuer out of the 13,913,400 total shares of common stock held by Sutherland REIT Holdings, LP (the "Partnership") based on the Reporting Person's percentage ownership in the Partnership. Waterfall Management, LLC, an affiliate of Waterfall Asset Management, LLC, the Issuer's external manager, serves as the general partner of the Partnership and may be deemed to be the beneficial owner of the shares of common stock of the Issuer that are held by the Partnership. In addition, the Reporting Person is a managing director of Waterfall Asset Management, LLC and may be deemed to share voting and investment power over the shares of common stock of the Issuer held by the Partnership.
However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Partnership upon their request in accordance with the Partnership's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Partnership and the Reporting Person disclaims beneficial ownership of such shares of common stock, except to the extent of the 14,733 shares reported herein, which represents his economic interest in the Partnership.
/s/ Frederick C. Herbst, by Sherwin Salar, his attorney-in-fact.
2018-03-08