A Form 4 filed on September 10, 2026, discloses that Stephen J. Dannhauser, a director of Ellington Financial Inc. (NYSE:EFC), was awarded 10,181 OP LTIP Units on September 9, 2026, under the company's 2026 Equity Incentive Plan.

Key Highlights

  • Award date: Stephen J. Dannhauser received 10,181 OP LTIP Units on September 9, 2026.
  • Price: The OP LTIP Units were acquired at a price of $0 per unit, according to the filing.
  • Vesting condition: The units remain forfeitable until September 8, 2027, subject to the reporting person's continued service as a board member.
  • Post-transaction ownership: Dannhauser beneficially owns 45,679 OP LTIP Units following the reported transaction.
  • Conversion feature: Upon vesting, the OP LTIP Units may be converted into Common Units of Ellington Financial Operating Partnership LLC on a one-for-one basis.
  • Plan: The units were issued pursuant to the company's 2026 Equity Incentive Plan.

Dannhauser OP LTIP Unit Grant Details and Conversion Terms

According to the filing, Stephen J. Dannhauser, identified as a director of Ellington Financial Inc. (NYSE:EFC), acquired 10,181 OP LTIP Units on September 9, 2026, via transaction code "A" (acquisition). The filing describes OP LTIP Units as "a separate non-voting class of limited liability company interests" of Ellington Financial Operating Partnership LLC, the operating partnership subsidiary of Ellington Financial Inc.

The filing states that the 10,181 units "remain forfeitable, subject to the reporting person's continued service as a member of the board of directors of the Company, until September 8, 2027." Upon lapse of the vesting restrictions, the OP LTIP Units may be converted, at the election of the holder or at any time at the election of the company, into Common Units of the Operating Partnership on a one-for-one basis. The filing further states that, subject to certain conditions, Common Units are redeemable by the holder for an equivalent number of shares of common stock of the company, with a par value of $0.001 per share, or for the cash value of such shares, at the company's election.

Following the reported transaction, Dannhauser's total beneficial ownership of OP LTIP Units stands at 45,679, held indirectly. The Form 4 was signed by Alaael-Deen Shilleh as attorney-in-fact for Stephen J. Dannhauser and filed on September 10, 2026.

What Was Disclosed

The filing reports a grant of 10,181 OP LTIP Units to director Stephen J. Dannhauser at $0 per unit on September 9, 2026, under Ellington Financial's 2026 Equity Incentive Plan, with vesting contingent on continued board service through September 8, 2027.