Ellington Credit Co. Files Proxy Supplement

TL;DR

Ellington Credit Co. (EFC) filed proxy docs 9/23. Shareholders need to review for voting.

AI Summary

Ellington Credit Co. filed a DEFA14A on September 23, 2024, related to its proxy materials. This filing is a definitive additional material, indicating it supplements previously filed proxy statements. The company, previously known as Ellington Residential Mortgage REIT, is incorporated in Maryland and operates as a Real Estate Investment Trust.

Why It Matters

This filing provides additional information to shareholders regarding proxy matters, which is crucial for informed voting decisions at company meetings.

Risk Assessment

Risk Level: low — This is a routine SEC filing (DEFA14A) for proxy materials, not indicating any immediate financial distress or significant corporate action.

Key Players & Entities

• Ellington Credit Co (company) — Registrant
• Ellington Residential Mortgage REIT (company) — Former company name
• 0001560672-24-000107 (filing_id) — Accession Number
• 20240923 (date) — Filing Date

FAQ

Filing Documents

• proxysupplement2024-earnme.htm (DEFA14A) — 29KB
• 0001560672-24-000107.txt ( ) — 30KB

From the Filing

Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the registrant x Filed by a party other than the registrant Check the appropriate box Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement x Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 Ellington Credit Company (Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of filing fee (Check the appropriate box) x No fee required Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11 (1) Title of each class of securities to which transaction applies (2) Aggregate number of securities to which transaction applies (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined) (4) Proposed maximum aggregate value of transaction. (5) Total fee paid Fee paid previously with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2), and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number or the Form or Schedule and the date of its filing. (1) Amount Previously Paid (2) Form, Schedule, or Registration Statement No. (3) Filing Party (4) Date Filed. Ellington Credit Postpones its Annual Meeting of Shareholders OLD GREENWICH, Conn., September 23, 2024—Ellington Credit Company (NYSE EARN) (the Company) today announced the postponement of its 2024 Annual Meeting of Shareholders (the Annual Meeting), originally scheduled for September 26, 2024. The Annual Meeting is being postponed to allow the Company to provide additional materials relating to the definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission (the "SEC") on August 16, 2024 (the Proxy Statement), and to provide further time to solicit proxies from the Company's shareholders. The rescheduled date for the Annual Meeting will be determined by the Company's Board of Trustees (the "Board") in accordance with the applicable provisions of the Company's Declaration of Trust and will be announced in the near future. The record date of the Annual Meeting, August 6, 2024 (the "Record Date"), remains unchanged. Shareholders who have already cast their votes do not need to take any action, unless they wish to change or revoke their prior proxy or voting instructions, and their votes will be counted at the postponed Annual Meeting. The Board strongly encourages all shareholders to follow its recommendation by voting "FOR" all of the proposals included in the Proxy Statement. ADDITIONAL INFORMATION AND WHERE TO FIND IT The Proxy Statement was mailed to all shareholders of record as of the close of business on the Record Date that were entitled to receive notice of and vote at the Annual Meeting. In addition, the Proxy Statement is available free of charge at the SEC's website located at www.sec.gov. BEFORE MAKING ANY VOTING OR INVESTMENT DECISIONS, SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS SUCH DOCUMENTS AND FILINGS CONTAIN IMPORTANT INFORMATION ABOUT THE ANNUAL MEETING AND THE MATTERS TO BE ACTED UPON AT THE ANNUAL MEETING. About Ellington Credit Company Ellington Credit Company, formerly known as Ellington Residential Mortgage REIT, was initially formed as a real estate investment trust (REIT) that invested primarily in residential mortgage-backed securities (MBS). On March 29, 2024, the Company's Board approved a strategic transformation of its investment strategy to focus on corporate collateralized loan obligations ("CLOs"), with an emphasis on mezzanine debt and equity tranches. In connection with this transformation, the Company revoked its election to be taxed as a REIT effective January 1, 2024, and rebranded to Ellington Credit Company. The Company intends, subject to shareholder approval of certain matters (the "Conversion Proposals"), to convert to a closed-end investment company registered under the Investment Company Act of 1940, as amended, which would be treated as a regulated investment company for federal income tax purposes under the Internal Revenue Code of 1986, as amended, and complete its transition from an MBS-focused company to a CLO-focused company later in 2024. Ellington Credit Company is externally managed and advised by Ellington Credit Company Management LLC, an affiliate of Ellington Management Group, L.L.C. (collectively, "Ellington"). Important Additional Information and

View Full Filing

View this DEFA14A filing on SEC EDGAR