Lawrence Mendelsohn - Dec 14, 2022 Form 4 Insider Report for Great Ajax Corp. (AJX)

Role
CHIEF EXECUTIVE OFFICER, Director
Signature
/s/ Lawrence Mendelsohn
Stock symbol
AJX
Transactions as of
Dec 14, 2022
Transactions value $
-$2,775,865
Form type
4
Date filed
12/15/2022, 04:27 PM
Previous filing
Aug 10, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AJX Common Stock, par value $0.01 per share Other -$2.78M -362K -100% $7.67 0 Dec 14, 2022 By Gregory Funding LLC F2
holding AJX Common Stock, par value $0.01 per share 133K Dec 14, 2022 Direct
holding AJX Common Stock, par value $0.01 per share 127K Dec 14, 2022 By Thetis Asset Management LLC F1
holding AJX Common Stock, par value $0.01 per share 16.1K Dec 14, 2022 By Flanders Street Credit Partners I., L.P. F1
holding AJX Common Stock, par value $0.01 per share 69.2K Dec 14, 2022 By Aspen Uranus LLC F1
holding AJX Common Stock, par value $0.01 per share 73 Dec 14, 2022 By wife
holding AJX Common Stock, par value $0.01 per share 73 Dec 14, 2022 By son
holding AJX Common Stock, par value $0.01 per share 1.09K Dec 14, 2022 By AIM Capital
holding AJX Common Stock, par value $0.01 per share 4.74K Dec 14, 2022 RPM Capital LLC
holding AJX Common Stock, par value $0.01 per share 544 Dec 14, 2022 By wife through RAD Children's Trust
holding AJX Common Stock, par value $0.01 per share 128K Dec 14, 2022 By Aspen Yo LLC F1, F2, F3
holding AJX Common Stock, par value $0.01 per share 15K Dec 14, 2022 By Mendelsohn Family Limited Partnership F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding AJX 7.25% Convertible Notes due 2024 8K Dec 14, 2022 Common Stock, par value $0.01 per share 13.9K $14.36 By Aspen Uranus LLC F1, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission that the reporting person is the beneficial owner of all of the reported shares for purposes of Section 16 or for any other purpose.
F2 As was previously publicly disclosed, on December 9, 2021, Gregory Funding LLC ("Gregory") issued a promissory note to Great Ajax Corp. ("Great Ajax") under which Gregory was given the opportunity to borrow up to $3.5 million on a revolving line of credit from Great Ajax with interest accruing at 7.2% annually. On December 14, 2022, Gregory and Great Ajax agreed to exchange 361,912 shares of Great Ajax held by Gregory for a reduction in the amount of outstanding debt owed under the promissory note based upon the volume-weighted average price of the shares as reported during the ten trading day period preceding the date of the exchange. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission that the reporting person is the beneficial owner of all of the reported shares for purposes of Section 16 or for any other purpose.
F3 Includes 127,315 shares held by Thetis Asset Management LLC, and 415 shares held by Aspen Yo LLC reported herein. Total is net of distributions of 122,380 shares; this includes 471 shares distributed to Aspen Uranus LLC, 182 shares distributed to AIM Capital, 794 shares distributed to RPM Capital LLC, 92 shares distributed to RAD Children's Trust, 1,478 shares distributed to Mendelsohn Family Limited Partnership, and 119,363 shares distributed to entities not controlled by Mr. Mendelsohn.
F4 Mr. Mendelsohn and certain members of his family are partners of Mendelsohn Family Limited Partnership.
F5 The conversion rate of the 7.25% convertible notes due 2024 (the "Notes") equals 1.7405 shares of the Issuer's common stock per $25.00 principal amount of notes (equivalent to a conversion price of approximately $14.36 per share of the Issuer's common stock). The conversion rate, and thus the conversion price, will be subject to adjustment in accordance with the terms of the Notes.
F6 Calculated based on the conversion rate of 1.7405 shares of the Issuer's common stock per $25.00 principal amount of Notes.