Leonard M. Tannenbaum, Executive Chairman and 10% owner of Sunrise Realty Trust, Inc., filed a Form 4 on November 6, 2026, reporting the acquisition of common stock through a merger transaction completed on November 5, 2026.

Key Highlights

  • Merger trigger: Shares were received upon completion of the merger of Southern Realty Trust Inc. into a wholly owned subsidiary of Sunrise Realty Trust, Inc. on November 5, 2026.
  • Conversion ratio: Each share of Southern Realty Trust common stock was converted into 1.45 shares of Sunrise Realty Trust common stock, rounded up to the nearest whole share, plus a cash amount equal to $0.05.
  • Direct acquisition: Tannenbaum directly acquired 2,155,373 shares at $0 price via transaction code J, bringing his direct beneficial ownership to 5,298,092 shares.
  • Indirect acquisition: An additional 326,250 shares were acquired indirectly at $0 through the same transaction, held by Gleams Jr LLC, wholly owned by the Tannenbaum Family 2012 Trust.
  • Restricted shares included: The direct acquisition includes 9,663 restricted shares received in exchange for 6,664 SRT restricted shares, subject to vesting in substantially equal annual installments on January 2, 2027, 2028, and 2029.
  • Additional indirect holdings: Tannenbaum also holds shares indirectly through multiple entities, including 58,958 shares via the Tannenbaum Family 2012 Trust, 585,681 via the Tannenbaum Family Foundation, 15,000 via the Sunny 5 Irrevocable Trust, 1,000 as UTMA custodian for his son, and 92,429 held by his spouse.

Sunrise Realty Trust Executive Chairman's Holdings Following SRT Merger

According to the filing, Leonard M. Tannenbaum serves as Executive Chairman, Director, and 10% owner of Sunrise Realty Trust, Inc. (NASDAQ:SUNS). The Form 4, signed by Brandon Hetzel as Attorney-in-Fact on November 6, 2026, reports changes in beneficial ownership resulting from the November 5, 2026 completion of the merger of Southern Realty Trust Inc. into a wholly owned subsidiary of the issuer.

The filing discloses that Tannenbaum directly acquired 2,155,373 shares of Sunrise Realty Trust common stock at a price of $0 under transaction code J, which the filing attributes to the merger conversion. Of those shares, 2,145,710 were fully vested, received in exchange for 1,479,800 shares of SRT common stock, while 9,663 were restricted shares received in exchange for 6,664 shares of SRT restricted common stock. The restricted shares, according to the filing, "remain subject to the original vesting schedule and vest in substantially equal annual installments on January 2, 2027, 2028 and 2029." Following these transactions, Tannenbaum's direct beneficial ownership stands at 5,298,092 shares.

Additionally, 326,250 fully vested shares were acquired indirectly through Gleams Jr LLC, wholly owned by the Tannenbaum Family 2012 Trust, in exchange for 225,000 SRT shares. The filing notes that for several indirect holdings - including those held by the Tannenbaum Family 2012 Trust, Gleams Jr LLC, the Tannenbaum Family Foundation, and the Sunny 5 Irrevocable Trust - Tannenbaum "disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest."

What Was Disclosed

Tannenbaum's Form 4 reports the acquisition of Sunrise Realty Trust common stock through a merger conversion on November 5, 2026, with direct holdings reaching 5,298,092 shares and multiple indirect holdings disclosed across family trusts, a foundation, and a custodial account.