Ellington Credit Co. Files Proxy Supplement

TL;DR

Ellington Credit Co. filed a proxy supplement, expect more shareholder info soon.

AI Summary

Ellington Credit Co. filed a DEFA14A on October 30, 2024, related to its proxy materials. The filing indicates it is a definitive additional material, suggesting it supplements previous proxy statements. Ellington Credit Co. is a real estate investment trust incorporated in Maryland.

Why It Matters

This filing provides updated or additional information to shareholders regarding matters to be voted on at a company meeting, impacting their understanding of corporate governance and potential decisions.

Risk Assessment

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

Key Players & Entities

• Ellington Credit Co (company) — Registrant
• 0001560672-24-000125 (filing_id) — Accession Number
• 20241030 (date) — Filing Date
• REAL ESTATE INVESTMENT TRUSTS [6798] (industry) — SIC Code
• MD (state) — State of Incorporation

FAQ

Filing Documents

• proxysupplement2024-earnme.htm (DEFA14A) — 31KB
• 0001560672-24-000125.txt ( ) — 32KB

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 Company's Board of Trustees, ISS, and Glass Lewis All Recommend Shareholders Vote "For" Strategic Transformation OLD GREENWICH, Conn., October 30, 2024—Ellington Credit Company (NYSE EARN) (the Company) today announced the postponement of its 2024 Annual Meeting of Shareholders (the Annual Meeting), scheduled for October 30, 2024. The Annual Meeting is being postponed to provide the Company 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. As of the close of business yesterday, over 90% of votes received have been cast in favor of each of the proposals that would allow the Company 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 (such proposals, the Conversion Proposals). However, given the number of shareholders who have not yet voted at all, the Conversion Proposals have not yet received the number of affirmative votes required for passage. 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 rescheduled Annual Meeting. The Company's Board of Trustees, along with leading independent proxy advisory firms Institutional Shareholder Services Inc., and Glass, Lewis Co., recommend that shareholders vote "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 (the Strategic Transformation). 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 shareh

View Full Filing

View this DEFA14A filing on SEC EDGAR