---
schema_version: "secwatch.filing_event.v1"
accession: "0001560672-24-000156"
form_type: "8-K"
ticker: "EARN"
cik: "0001560672"
company_name: "Ellington Credit Co"
filed_at: "2024-12-09T23:59:59+00:00"
generated_at: "2026-05-29T05:38:03.472838+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ellington Credit issues mirror preferred shares to pass conversion vote in early 2025

## Summary
- Issued 1,000 Series A Preferred Shares at $1,000 aggregate to external manager to amplify common shareholder votes on conversion to registered closed-end fund.
- Each preferred share carries 25,000 votes but must 'mirror' the proportion of votes cast by common shareholders on conversion proposals.
- Over 91% of votes cast at Dec 4, 2024 annual meeting favored conversion, but low turnout prevented passage; new special meeting planned for early 2025.
- Preferred shares have no dividend rights, are non-convertible, and will be automatically redeemed upon shareholder approval of conversion (or earlier).
- The conversion would make Ellington a Delaware statutory trust, a registered closed-end investment company, and a RIC focused on CLO investments.

## SEC filing metadata
- accession: 0001560672-24-000156
- form_type: 8-K
- ticker: EARN
- cik: 0001560672
- company_name: Ellington Credit Co
- filed_at: 2024-12-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000156/0001560672-24-000156-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000156/earn-20241209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001560672-24-000156
- JSON: https://secwatch.observer/filing/0001560672-24-000156.json
- Plain text: https://secwatch.observer/filing/0001560672-24-000156.txt

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