---
schema_version: "secwatch.filing_event.v1"
accession: "0001560672-24-000036"
form_type: "8-K"
ticker: "EARN"
cik: "0001560672"
company_name: "Ellington Credit Co"
filed_at: "2024-04-23T23:59:59+00:00"
generated_at: "2026-06-03T11:53:37.049089+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Ellington Credit adopts tax asset preservation rights plan to protect NOLs

## Summary
- Plan effective April 23, 2024; triggers at 4.9% ownership to deter Section 382 ownership change.
- Expires upon conversion to closed-end fund/RIC (planned later 2024) or April 23, 2025, whichever earliest.
- Rights initially trade with common; if triggered, holders (except acquiring person) get 50% discount shares or exchange.
- Existing 4.9% holders can keep shares but cannot acquire additional >0.5% without triggering plan.
- Board may exempt persons; rights redeemable for $0.01 per right before trigger.

## SEC filing metadata
- accession: 0001560672-24-000036
- form_type: 8-K
- ticker: EARN
- cik: 0001560672
- company_name: Ellington Credit Co
- filed_at: 2024-04-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000036/0001560672-24-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000036/earn-20240422.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001560672-24-000036
- JSON: https://secwatch.observer/filing/0001560672-24-000036.json
- Plain text: https://secwatch.observer/filing/0001560672-24-000036.txt

## Key facts
- Governance Changes
  Ellington Credit Co: Board adopted a Section 382 rights plan to protect NOLs, authorizing a dividend of one preferred share purchase right per common share (effective 2024-04-22).
  - Change: bylaw amendment
  - Effective: 2024-04-22
  source text: On April 22, 2024, the Board of Trustees (the “Board”) of Ellington Credit Company, a Maryland real estate investment trust (the “Company”), approved the Company's entry into a rights plan and authorized a dividend of one preferred share purchase right (“Right”) for each of the Company's outstanding common shares
  evidence_url: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000036/0001560672-24-000036-index.htm

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