Director Howard Ian Sudnow filed a Form 4 with the SEC on November 6, 2026, reporting the acquisition of 1,500 shares of Sunrise Realty Trust, Inc. common stock on November 5, 2026, received upon completion of a merger involving Southern Realty Trust Inc.

Key Highlights

  • Reporting person: Howard Ian Sudnow, listed as a Director of Sunrise Realty Trust, Inc. (NASDAQ:SUNS)
  • Transaction date: November 5, 2026, with transaction code J, reflecting an acquisition at $0 price per share
  • Shares acquired: 1,500 shares of Sunrise Realty Trust, Inc. common stock, received upon completion of a merger of Southern Realty Trust Inc. with a wholly owned subsidiary of the issuer
  • Conversion ratio: Each share of Southern Realty Trust Inc. common stock was converted into 1.45 shares of Sunrise Realty Trust, Inc. common stock, rounded up to the nearest whole share, plus a cash amount equal to $0.05
  • Restricted shares: 775 of the 1,500 shares are restricted, received in exchange for 534 shares of Southern Realty Trust Inc. restricted common stock, and vest on January 2, 2027
  • Fully vested shares: 725 shares are fully vested, received in exchange for 500 shares of Southern Realty Trust Inc. common stock
  • Resulting ownership: 1,500 shares beneficially owned directly following the reported transaction

Sudnow's Share Acquisition at Sunrise Realty Trust via Merger Conversion

According to the Form 4 filed on November 6, 2026, Director Howard Ian Sudnow reported acquiring 1,500 shares of Sunrise Realty Trust, Inc. common stock (NASDAQ:SUNS) on November 5, 2026. The filing indicates the shares were received upon completion of the merger of Southern Realty Trust Inc. ("SRT") with and into a wholly owned subsidiary of Sunrise Realty Trust, Inc. The transaction was recorded under transaction code J, and the price per share is listed as $0, as the shares were received through the merger conversion rather than an open-market purchase.

The filing explains that each share of SRT common stock was converted into 1.45 shares of Sunrise Realty Trust, Inc. common stock, rounded up to the nearest whole share, along with a cash amount equal to $0.05 per share. Of the 1,500 total shares received, the filing states that 775 are restricted shares, issued in exchange for 534 shares of SRT restricted common stock. These restricted shares remain subject to the original vesting schedule and are set to vest on January 2, 2027. The remaining 725 shares are described as fully vested, received in exchange for 500 shares of SRT common stock.

Following the reported transaction, the filing states that Sudnow directly beneficially owns 1,500 shares in total. The Form 4 was signed by Brandon Hetzel as Attorney-in-Fact on November 6, 2026.

What Was Disclosed

Director Howard Ian Sudnow disclosed the acquisition of 1,500 shares of Sunrise Realty Trust, Inc. common stock on November 5, 2026, received through the conversion of SRT shares in connection with a completed merger, with 775 shares remaining subject to vesting on January 2, 2027.