---
schema_version: "secwatch.filing_event.v1"
accession: "0001560672-24-000051"
form_type: "8-K"
ticker: "EARN"
cik: "0001560672"
company_name: "Ellington Credit Co"
filed_at: "2024-06-25T23:59:59+00:00"
generated_at: "2026-06-01T02:12:07.149375+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Ellington Credit enters new management agreement with performance fee; CLO portfolio rises to $85M

## Summary
- New management agreement effective July 1: base fee switches from 1.50% of Shareholders' Equity to 1.50% of Net Asset Value.
- Performance fee introduced at 17.5% of quarterly Pre-Fee Net Investment Income above 2% hurdle (8% annual); fully waived through 2024.
- CLO portfolio grew to $85M as of June 24, 2024, from $45.1M at March 31, 2024, accelerating shift from agency MBS.
- Performance fee calculated per quarter with no clawback or carryforward, potentially incentivizing higher risk or leverage.
- Board continues strategic transformation to CLO focus and conversion to a closed-end investment company.

## SEC filing metadata
- accession: 0001560672-24-000051
- form_type: 8-K
- ticker: EARN
- cik: 0001560672
- company_name: Ellington Credit Co
- filed_at: 2024-06-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000051/0001560672-24-000051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000051/earn-20240625.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001560672-24-000051
- JSON: https://secwatch.observer/filing/0001560672-24-000051.json
- Plain text: https://secwatch.observer/filing/0001560672-24-000051.txt

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