Sutherland REIT Holdings, LP

SEC source: 0001104659-23-020697 · tm236100-1_5seq1.xml · nonDerivative · entry 1

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,431,049

F1 · price: The Reporting Person received a redemption request (the "SRH Redemption Request") from a certain limited partner in respect of certain of its limited partnership interests in the Reporting Person ("SRH Units"). On the date noted in Table I above, the Reporting Person satisfied the SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse and Jack Ross is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-22-022644 · tm226526-1_5seq1.xml · nonDerivative · entry 8

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,195,300

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On the dates noted in Table I above, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross and Thomas Buttacavoli is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-22-022644 · tm226526-1_5seq1.xml · nonDerivative · entry 7

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,376,226

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On the dates noted in Table I above, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross and Thomas Buttacavoli is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-22-022644 · tm226526-1_5seq1.xml · nonDerivative · entry 6

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,395,167

F5 · price: On March 20, 2020 the Issuer announced that it decided to pay its previously declared cash dividend for the first quarter of 2020 of $0.40 per share of Common Stock and operating partnership unit, in a combination of cash, not to exceed 20% in the aggregate, and Common Stock. These shares represent Common Stock of the Issuer that were received by the Reporting Person as a part of that dividend payment.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross and Thomas Buttacavoli is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-22-022644 · tm226526-1_5seq1.xml · nonDerivative · entry 5

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,768,685

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On the dates noted in Table I above, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross and Thomas Buttacavoli is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-22-022644 · tm226526-1_5seq1.xml · nonDerivative · entry 4

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,836,223

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On the dates noted in Table I above, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross and Thomas Buttacavoli is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-22-022644 · tm226526-1_5seq1.xml · nonDerivative · entry 3

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,862,266

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On the dates noted in Table I above, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross and Thomas Buttacavoli is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-22-022644 · tm226526-1_5seq1.xml · nonDerivative · entry 2

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,741,454

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On the dates noted in Table I above, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross and Thomas Buttacavoli is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-22-022644 · tm226526-1_5seq1.xml · nonDerivative · entry 1

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,913,400

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On the dates noted in Table I above, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross and Thomas Buttacavoli is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-18-009752 · a5.xml · nonDerivative · entry 5

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,917,050

F5 · price: On June 30, 2017, the Issuer received a redemption request (the "OP Holdings Redemption Request") from Sutherland OP Holding I, Ltd. ("Holdings I"), a Cayman corporation externally managed by Waterfall Asset Management, LLC, the Issuer's external manager, in respect of 1,171,494 operating partnership units in the Issuer's operating partnership subsidiary ("OP Units") held by Holdings I. On the same date, the Issuer notified Holdings I of its decision to satisfy the OP Holdings Redemption Request by exchanging by 1,171,494 shares of Common Stock for such OP Units. Holdings I then contributed the 1,171,494 shares of Common Stock to the Reporting Person in exchange for an equal number of units of partnership interests in the Reporting Person.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross, Frederick Herbst, Thomas Buttacavoli and Carole Mortensen is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-18-009752 · a5.xml · nonDerivative · entry 4

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,745,556

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On January 31, 2017, February 28, 2017, May 31, 2017 and June 30, 2017, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross, Frederick Herbst, Thomas Buttacavoli and Carole Mortensen is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-18-009752 · a5.xml · nonDerivative · entry 3

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,868,993

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On January 31, 2017, February 28, 2017, May 31, 2017 and June 30, 2017, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross, Frederick Herbst, Thomas Buttacavoli and Carole Mortensen is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-18-009752 · a5.xml · nonDerivative · entry 2

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,922,819

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On January 31, 2017, February 28, 2017, May 31, 2017 and June 30, 2017, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross, Frederick Herbst, Thomas Buttacavoli and Carole Mortensen is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

SEC source: 0001104659-18-009752 · a5.xml · nonDerivative · entry 1

Sutherland REIT Holdings, LP · CIK 0001611235 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,004,631

F1 · price: The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On January 31, 2017, February 28, 2017, May 31, 2017 and June 30, 2017, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.

F2 · balance_after: Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.

F3 · balance_after: In addition, each of Thomas Capasse, Jack Ross, Frederick Herbst, Thomas Buttacavoli and Carole Mortensen is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.

F4 · balance_after: Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.