---
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"
generated_at: "2026-06-03T13:53:15.991917+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Shepherd's Finance effects 100-for-1 split of Series C Preferred Units, amends conversion rights

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-015576
- form_type: 8-K
- cik: 0001544190
- company_name: Shepherd's Finance, LLC
- filed_at: 2024-04-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-015576
- JSON: https://secwatch.observer/filing/0001493152-24-015576.json
- Plain text: https://secwatch.observer/filing/0001493152-24-015576.txt

## Key facts
- Material Agreements
  Shepherd's Finance, LLC amended Amendment No. 4 to the Second Amended and Restated Limited Liability Company Agreement (effective 2024-03-31).
  - Action: amendment
  - Effective: 2024-03-31
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1544190/000149315224015576/0001493152-24-015576-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.