Ready Capital Corp DEF 14A: Executive Comp & Equity Awards

Ticker: RC-PE · Form: DEF 14A · Filed: Jun 14, 2024 · CIK: 1527590

Ready Capital Corp DEF 14A Filing Summary
FieldDetail
CompanyReady Capital Corp (RC-PE)
Form TypeDEF 14A
Filed DateJun 14, 2024
Risk Levelmedium
Pages16
Reading Time19 min
Key Dollar Amounts$0.0001, $37 million, $15 billion, $220 b
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, executive-compensation, corporate-governance

TL;DR

RC's DEF 14A is out - check exec pay & 2023 equity awards.

AI Summary

Ready Capital Corp filed a DEF 14A on June 14, 2024, for the fiscal year ending July 25, 2024. The filing details executive compensation and corporate governance matters. Key information includes compensation tables for named executive officers and details on equity awards granted in 2023.

Why It Matters

This filing provides crucial insights into how Ready Capital Corp compensates its top executives and the structure of its equity awards, which can influence investor decisions and company performance.

Risk Assessment

Risk Level: medium — DEF 14A filings often contain information about executive compensation and corporate governance that can signal potential risks or opportunities for investors.

Key Numbers

  • 2023 — Fiscal Year (Compensation and equity award data pertains to this year.)
  • 2024 — Fiscal Year (Period of report for the DEF 14A filing.)

Key Players & Entities

  • Ready Capital Corp (company) — Filer
  • 20240614 (date) — Filing Date
  • 20240725 (date) — Period of Report
  • Sutherland Asset Management Corp (company) — Former Company Name
  • ZAIS Financial Corp. (company) — Former Company Name

FAQ

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Definitive Proxy Statement, is used to solicit shareholder votes on important corporate matters, such as the election of directors and executive compensation.

When was this DEF 14A filing submitted by Ready Capital Corp?

Ready Capital Corp filed this DEF 14A on June 14, 2024.

What period does this DEF 14A filing cover?

The period of report for this DEF 14A filing is July 25, 2024.

What specific financial data is typically detailed in a DEF 14A regarding compensation?

DEF 14A filings typically include detailed tables on executive compensation, such as base salary, bonuses, stock awards, option awards, and other compensation for named executive officers.

Has Ready Capital Corp undergone any previous name changes?

Yes, Ready Capital Corp was formerly known as Sutherland Asset Management Corp until November 10, 2016, and prior to that, as ZAIS Financial Corp. until August 8, 2011.

Filing Stats: 4,685 words · 19 min read · ~16 pages · Grade level 13.1 · Accepted 2024-06-14 16:15:29

Key Financial Figures

  • $0.0001 — f record of our common stock, par value $0.0001 per share (" Common Stock "), as of the
  • $37 million — ross-border transactions, including the $37 million development of a mixed-use office compl
  • $15 billion — e he assisted in transactions exceeding $15 billion. Mr. Marshall is a founding member of
  • $220 b — a private equity firm that manages over $220 billion, where he headed the firm's U.S.

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 25 Compensation Discussion and Analysis 25

Executive Compensation Strategy

Executive Compensation Strategy 26 Annual Cash Incentive Program 26 Equity Compensation 31 Compensation Committee Report 35 Summary Compensation Table 36 Potential Payments Upon Termination or Change in Control 39 Pay Ratio Disclosure 39 Pay versus Performance 40 PROPOSAL 2. RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 43 Independent Registered Public Accounting Firm Fees 43 Report of the Audit Committee 44 PROPOSAL 3. APPROVAL, ON AN ADVISORY BASIS, OF THE COMPENSATION OF THE COMPANY'S NAMED EXECUTIVE OFFICERS 46 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 47 Conflicts of Interest and Related Party Transactions 47

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 51 OTHER MATTERS 55 SUBMISSION OF STOCKHOLDER PROPOSALS 56 DELIVERY OF MATERIALS 57 HOUSEHOLDING OF PROXY MATERIALS 58 MISCELLANEOUS 59 This Proxy Statement, the accompanying proxy card and the Notice of the Annual Meeting are being furnished to stockholders in connection with the solicitation of proxies by and on behalf of the board of directors of Ready Capital Corporation, a Maryland corporation (the " Company ," " we ," " our " or " us "), for use at our 2024 Annual Meeting to be held via a live audio webcast at www.meetnow.global/MHTXD9J on July 25, 2024, at 9:00 a.m. Eastern Time, or at any postponement or adjournment thereof. Pursuant to the rules adopted by the Securities and Exchange Commission (the " SEC "), we have provided access to our proxy materials over the Internet. Accordingly, we are sending a Notice of Internet Availability of Proxy Materials to our stockholders as of the Record Date, containing instructions on how to access proxy materials on the Internet, how to vote online or by telephone and, if desired, how to receive a printed set of the proxy materials. Table of Contents ANNUAL REPORT TO STOCKHOLDERS This Proxy Statement is accompanied by our Annual Report to Stockholders for the year ended December 31, 2023. Table of Contents VOTING SECURITIES AND RECORD DATE Stockholders will be entitled to cast one vote for each share of Common Stock held of record at the close of business on the Record Date with respect to (i) the election of each of the seven director nominees to serve on our board of directors until our 2025 annual meeting of stockholders and until their successors are duly elected and qualify, (ii) the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the 2024 fiscal year, (iii) the resolution to approve, on an advisory basis, the compensation of our Named Executive Officers

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