Preferred-for-common swap reshapes Creative Media & Community Trust (CMCT) holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Creative Media & Community Trust Corp director Avraham Shemesh reported an internal restructuring of indirect holdings, tied to the issuer’s redemption of preferred stock. Entities associated with Shemesh, including CIM CMCT MLP, LLC and CIM Capital Real Property Management, LLC, received additional shares of Common Stock at a stated price of $0.0000 per share.
The footnotes explain that Common Stock was issued in exchange for Series A and Series A1 Preferred Stock that had been called for redemption by the company, using a price based on the volume-weighted average price of the Common Stock over 20 trading days. The filing reflects non-market, compensation-free reclassification of positions rather than open‑market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
7 transactions reported
Mixed
7 txns
Insider
Shemesh Avraham
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 8,146,382 | $0.00 | -- |
| Other | Common Stock | 1,002,524 | $0.00 | -- |
| Other | Series A Preferred Stock | 298,472 | $0.00 | -- |
| Other | Series A1 Preferred Stock | 36,663 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 8,183,796 shares (Indirect, By CIM CMCT MLP, LLC);
Series A Preferred Stock — 270,209 shares (Indirect, By CIM CMCT MLP, LLC);
Series A1 Preferred Stock — 0 shares (Indirect, By CIM Capital Real Property Management, LLC);
Common Stock — 185 shares (Direct)
Footnotes (1)
- Shares of Common Stock were issued for the redemption of Series A Preferred Stock and Series A1 Preferred Stock which were called for redemption by the issuer. The issuance price as based on the VWAP of the Common Stock for the 20 Trading Days immediately preceding the These shares were called for redemption by the issuer.
FAQ
What did CMCT director Avraham Shemesh report in this Form 4?
Avraham Shemesh reported internal restructuring of indirect holdings in Creative Media & Community Trust Corp. Entities linked to him received Common Stock in exchange for preferred shares called for redemption, with no cash consideration, reflecting a non-market adjustment rather than open-market trading activity.
Which securities were involved in Avraham Shemesh’s CMCT Form 4 filing?
The filing covers Common Stock, Series A Preferred Stock, and Series A1 Preferred Stock of Creative Media & Community Trust Corp. Common Stock was issued to affiliated entities in connection with the issuer’s redemption of the preferred shares, consolidating ownership without recording a purchase or sale price.
Were the CMCT transactions reported by Avraham Shemesh open-market buys or sells?
No, the transactions were not open-market buys or sells. They are coded as “J” transactions, described as other acquisitions or dispositions, and stem from preferred stock being redeemed and converted into Common Stock at no stated cash price per share.