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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 22, 2023

 

 

 

READY CAPITAL CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Maryland   001-35808   90-0729143
(State or other jurisdiction
of incorporation)		   (Commission File Number)   (IRS Employer Identification No.)

 

1251 Avenue of the Americas, 50th Floor

New York, NY 10020

(Address of principal executive offices)

(Zip Code)

 

(212) 257-4600

(Registrant's telephone number, including area code)

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e- 4(c))

 

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.0001 par value per share RC New York Stock Exchange
6.25% Series C Cumulative Convertible Preferred Stock, $0.0001 par value per share RC PRC New York Stock Exchange
6.50% Series E Cumulative Redeemable Preferred Stock, $0.0001 par value per share RC PRE New York Stock Exchange
7.00% Convertible Senior Notes due 2023 RCA New York Stock Exchange
6.20% Senior Notes due 2026 RCB New York Stock Exchange
5.75% Senior Notes due 2026 RCC New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company               ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                 ¨

 

 

 

Item 5.07. Submission of Matters to a Vote of Security Holders.

 

On August 22, 2023, Ready Capital Corporation, a Maryland corporation (the “Company”), held its annual meeting of stockholders, solely by means of a virtual meeting conducted live over the internet (the “Annual Meeting”), to vote on the Company’s proposals identified in the Company’s definitive proxy statement (the “Proxy Statement”) on Schedule 14A, filed with the Securities and Exchange Commission on July 3, 2023. A summary of voting results with respect to each proposal is set forth below.

 

Proposal 1. The stockholders elected all twelve director nominees to serve until the 2024 annual meeting of stockholders and until their respective successors are duly elected and qualify. The votes with respect to the election of each of the twelve directors were as follows:

 

Director  Votes For  Votes Withheld  Broker Non-Votes
Thomas E. Capasse  83,417,575  2,113,546  41,811,014
Jack J. Ross  83,647,900  1,883,221  41,811,014
Frank P. Filipps  83,827,196  1,703,925  41,811,014
Daniel J. Hirsch  79,975,223  5,555,898  41,811,014
Kevin M. Luebbers  84,287,372  1,243,749  41,811,014
Meredith Marshall  84,135,124  1,395,997  41,811,014
Pinkie D. Mayfield  83,553,819  1,977,302  41,811,014
Dominique Mielle  73,720,794  11,810,311  41,811,014
Gilbert E. Nathan  73,705,204  11,825,917  41,811,014
Andrea Petro  83,984,090  1,547,031  41,811,014
J. Mitchell Reese  63,476,441  22,054,680  41,811,014
Todd M. Sinai  73,770,491  11,760,630  41,811,014

 

 

Proposal 2. The stockholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the 2023 fiscal year. The votes with respect to the ratification of the appointment of Deloitte & Touche LLP were as follows:

 

Total Votes For  Total Votes Against  Abstentions  Broker Non-Votes
125,686,124  1,176,150  479,861  0

 

Proposal 3. The stockholders approved, on an advisory basis, the compensation of the Company’s named executive officers, as described in the Proxy Statement. The votes with respect to such approval were as follows:

 

Total Votes For  Total Votes Against  Abstentions  Broker Non-Votes
80,865,180  3,334,299  1,331,642  41,811,014

 

Proposal 4. The stockholders approved and adopted the Company’s 2023 Equity Incentive Plan. The votes with respect to such approval were as follows:

 

Total Votes For  Total Votes Against  Abstentions  Broker Non-Votes
79,892,083  4,504,191  1,134,847  41,811,014

 

 

 

 

Signatures

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  READY CAPITAL CORPORATION
     
Date: August 23, 2023 By: /s/ Andrew Ahlborn
  Name: Andrew Ahlborn
  Title: Chief Financial Officer

 

 

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Cover
Aug. 22, 2023
Document Information [Line Items]  
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 22, 2023
Entity File Number 001-35808
Entity Registrant Name READY CAPITAL CORPORATION
Entity Central Index Key 0001527590
Entity Tax Identification Number 90-0729143
Entity Incorporation, State or Country Code MD
Entity Address, Address Line One 1251 Avenue of the Americas
Entity Address, Address Line Two 50th Floor
Entity Address, City or Town New York
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10020
City Area Code 212
Local Phone Number 257-4600
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Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Stock, $0.0001 par value per share  
Document Information [Line Items]  
Title of 12(b) Security Common Stock, $0.0001 par value per share
Trading Symbol RC
Security Exchange Name NYSE
Series C Preferred Stock [Member]  
Document Information [Line Items]  
Title of 12(b) Security 6.25% Series C Cumulative Convertible Preferred Stock, $0.0001 par value per share
Trading Symbol RC PRC
Security Exchange Name NYSE
Series E Preferred Stock [Member]  
Document Information [Line Items]  
Title of 12(b) Security 6.50% Series E Cumulative Redeemable Preferred Stock, $0.0001 par value per share
Trading Symbol RC PRE
Security Exchange Name NYSE
7.00% Convertible Senior Notes due 2023  
Document Information [Line Items]  
Title of 12(b) Security 7.00% Convertible Senior Notes due 2023
Trading Symbol RCA
Security Exchange Name NYSE
6.20% Senior Notes due 2026  
Document Information [Line Items]  
Title of 12(b) Security 6.20% Senior Notes due 2026
Trading Symbol RCB
Security Exchange Name NYSE
5.75% Senior Notes due 2026  
Document Information [Line Items]  
Title of 12(b) Security 5.75% Senior Notes due 2026
Trading Symbol RCC
Security Exchange Name NYSE
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