{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-015576","form_type":"8-K","ticker":null,"cik":"0001544190","company_name":"Shepherd's Finance, LLC","filed_at":"2024-04-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:18.911398+00:00","generated_at":"2026-06-03T13:53:15.991917+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Shepherd's Finance effects 100-for-1 split of Series C Preferred Units, amends conversion rights","bullets":["Effective March 31, 2024, every Series C Preferred Unit reclassified into 100 units via a 100-for-1 split.","Authorized Series C Preferred Units increased to 20,000; up to 8,000 reserved for Preferred Unit Reinvestment Program.","After a 12-month notice period, holders may convert Series C Preferred Units to common units on a 1-for-1 basis, replacing prior redemption right."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-015576","json":"https://secwatch.observer/filing/0001493152-24-015576.json","markdown":"https://secwatch.observer/filing/0001493152-24-015576.md","text":"https://secwatch.observer/filing/0001493152-24-015576.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1544190/000149315224015576/0001493152-24-015576-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1544190/000149315224015576/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T13:53:15.991917+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c0e7417920b49b5b4d259a6463ffbd9be41beea0","claim":"Shepherd's Finance, LLC amended Amendment No. 4 to the Second Amended and Restated Limited Liability Company Agreement (effective 2024-03-31).","evidence_excerpt":"On April 19, 2024, Shepherd’s Finance, LLC (the “Registrant”) entered into Amendment No. 4 to the Second Amended and Restated Limited Liability Company Agreement, as amended (the “Fourth Amendment”), with an effective date of March 31, 2024 (the “Effective Date”), to effect a 100-for-1 unit split (the “Unit Split”) of its Series C Cumulative Preferred Units","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1544190/000149315224015576/0001493152-24-015576-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Effective","value":"2024-03-31"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}