ACRES Commercial Realty Corp. — fact timeline

ACRES Commercial Realty Corp.: Decreased stock ownership limit from 9.8% to 4.34% (effective 2026-04-29).

“the Board of Directors of the Company approved, pursuant to Section 6.2.8 of the Company’s charter (the “Charter”), a decrease in the Stock Ownership Limit, as such term is defined therein, from 9.8% to 4.34% in value or in number of shares, whichever is more restrictive, of any class or series of shares of Capital Stock, as such term is defined therein, of the Company. On April 28, 2026, the Company filed an amendment to the Charter (the “Amendment”) reflecting the change in the Stock Ownership Limit with the State Department of Assessments and Taxation of Maryland, effective at 5:00 p.m. on April 29, 2026.”

ACRES Commercial Realty Corp. reported the quarter ended March 31, 2026 results: net income net loss allocable to common shares was $1.0 million or $(0.16) per share-diluted, EPS (0.16) per share-diluted.

“ACR’s GAAP net loss allocable to common shares was $1.0 million or $(0.16) per share-diluted, for the quarter ended March 31, 2026.”

ACRES Commercial Realty Corp. entered into Agreement and Plan of Merger with ACRES Capital Corp and ACRES Capital, LLC (effective 2026-04-29).

“On April 29, 2026, ACRES Commercial Realty Corp. (the “ Company ”) and ACRES Holdings Sub LLC (“ Merger Sub ”), a subsidiary of the Company, on the one hand, and ACRES Capital Corp (“ ACC ”) and ACRES Capital, LLC, a subsidiary of ACC and the external manager of the Company (the “ Manager ”), on the other hand, entered into an Agreement and Plan of Merger (the “ Merger Agreement ”), pursuant to which ACC will be merged with and into Merger Sub, with Merger Sub surviving as a wholly-owned subsidiary of the Company (the “ Merger ”).”

Andrew Fentress was appointed as Managing Director – Capital Markets at ACRES Commercial Realty Corp..

“appointed Andrew Fentress as the Company’s Managing Director – Capital Markets”

ACRES Commercial Realty Corp. engaged PricewaterhouseCoopers LLP as its auditor.

“On April 27, 2026, the Audit Committee approved the engagement of PricewaterhouseCoopers LLP”

ACRES Commercial Realty Corp. dismissed Ernst & Young LLP as its auditor.

“(the “Company”) determined to dismiss Ernst & Young LLP (“EY”) as the Company’s independent registered public accounting firm, effective upon filing the Company’s Form 10-Q for the quarter ended March 31, 2026.”

ACRES Commercial Realty Corp. reported the quarter ended December 31, 2025 results: net income $3.0 million, EPS $(0.43) per share-diluted.

“ACR’s GAAP net loss allocable to common shares was $3.0 million or $(0.43) per share-diluted, for the quarter ended December 31, 2025.”

ACRES Commercial Realty Corp. engaged EY as its auditor.

“the Audit Committee selected EY as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024, effective upon filing the Form 10-Q for the quarter ended March 31, 2024.”

ACRES Commercial Realty Corp. engaged Ernst & Young LLP as its auditor.

“(b) Appointment of New Independent Registered Public Accounting Firm On April 23, 2024, the Audit Committee approved the engagement of Ernst & Young LLP (“EY”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, effective upon filing the Form 10-Q for the quarter ended March 31, 2024.”

ACRES Commercial Realty Corp. dismissed Grant Thornton LLP as its auditor.

“☐ Item 4.01 Changes in Registrant’s Certifying Accountant (a) Dismissal of Previous Independent Registered Public Accounting Firm On April 23, 2024, the Audit Committee (the “Audit Committee”) of the Board of Directors of ACRES Commercial Realty Corp. (the “Company”) determined to dismiss Grant Thornton LLP (“Grant Thornton”) as the Company’s independent registered public accounting firm, effective upon filing the Company’s Form 10-Q for the quarter ended March 31, 2024.”

William B. Hart departed as Director at ACRES Commercial Realty Corp..

“On February 15, 2024, William B. Hart notified the board of directors (the "Board") of ACRES Commercial Realty Corp. (the “Company”) that he does not intend to stand for re-election at the Company’s 2024 Annual Meeting of Stockholders.”

David J. Bryant was appointed as member of the Board at ACRES Commercial Realty Corp..

“appointed David J. Bryant as a member of the Board effective January 1, 2024.”

David J. Bryant retired as Senior Vice President, Chief Financial Officer and Treasurer at ACRES Commercial Realty Corp..

“Mr. Bryant, age 65, has been the Company’s Senior Vice President, Chief Financial Officer and Treasurer since June 2006 through his planned retirement effective on December 31, 2023”

ACRES Commercial Realty Corp. reported quarter ended September 30, 2023 results: net income $2.9 million, or $0.33 per share-diluted, EPS $0.33 per share-diluted.

“ACR’s GAAP net income allocable to common shares was $2.9 million, or $0.33 per share-diluted, for the quarter ended September 30, 2023.”

Linda M. Kilpatrick was appointed as Chief Accounting Officer, Vice President and Controller at ACRES Commercial Realty Corp..

“Additionally, on November 1, 2023, Linda M. Kilpatrick was appointed as the Company's Chief Accounting Officer, Vice President and Controller, effective January 1, 2024.”

Eldron C. Blackwell was appointed as Chief Financial Officer, Senior Vice President and Treasurer at ACRES Commercial Realty Corp..

“On November 1, 2023, Eldron C. Blackwell was appointed as the Company's Chief Financial Officer, Senior Vice President and Treasurer, effective January 1, 2024.”

David J. Bryant departed as Chief Financial Officer, Senior Vice President and Treasurer at ACRES Commercial Realty Corp..

“On November 1, 2023, David J. Bryant, Chief Financial Officer, Senior Vice President and Treasurer, informed the Company of his intention to retire effective December 31, 2023.”

ACRES Commercial Realty Corp. reported the quarter ended June 30, 2023 results: net income $817,000, EPS $0.10 per share-diluted.

“ACR’s GAAP net income allocable to common shares was $817,000, or $0.10 per share-diluted, for the quarter ended June 30, 2023.”

ACRES Commercial Realty Corp. shareholders approved Ratification of appointment of Grant Thornton LLP as independent auditor at the 2023-06-08 meeting.

“A proposal to ratify the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2023: Shares For Shares Against Abstentions 5,580,256 34,767 1,197,301”

ACRES Commercial Realty Corp. shareholders approved Advisory vote on the frequency of say-on-pay votes at the 2023-06-08 meeting.

“A proposal to approve, in an advisory vote, the frequency of votes on the say on pay vote: One Year Two Years Three Years Abstentions 3,111,153 25,966 52,403 1,203,850”

ACRES Commercial Realty Corp. shareholders approved Advisory vote on the compensation of named executive officers at the 2023-06-08 meeting.

“A proposal to approve, in an advisory vote, the compensation of the Company’s named executive officers: Shares For Shares Against Abstentions Broker Non-Votes 2,826,747 293,498 1,273,127 2,418,952”

ACRES Commercial Realty Corp. shareholders approved Election of Directors at the 2023-06-08 meeting.

“Election of Directors Shares For Shares Against Abstentions Broker Non-Votes Ms. Edwards 3,014,009 175,652 1,203,711 2,418,952 Mr. Fentress 3,013,827 143,514 1,236,031 2,418,952 Mr. Fogel 3,017,862 140,207 1,235,303 2,418,952 Mr. Hart 2,917,864 269,160 1,206,348 2,418,952 Mr. Ickowicz 2,991,993 165,410 1,235,969 2,418,952 Mr. Kessler 2,920,341 237,206 1,235,825 2,418,952 Mr. Levin 2,799,066 360,304 1,234,002 2,418,952 Mr. Neff 2,921,404 267,953 1,204,015 2,418,952 Ms. Williams 3,015,258 178,714 1,199,400 2,418,952”

ACRES Commercial Realty Corp. reported the quarter ended March 31, 2023 results: net income $2.4 million, or $0.28 per share-diluted, EPS $0.28 per share-diluted.

“ACR’s GAAP net loss allocable to common shares was $2.4 million, or $0.28 per share-diluted, for the quarter ended March 31, 2023.”

ACRES Commercial Realty Corp. reported the quarter ended December 31, 2022 results: net income $7.4 million, EPS $0.87 per share-diluted.

“ACR's GAAP net loss allocable to common shares was $7.4 million, or $0.87 per share-diluted, for the quarter ended December 31, 2022.”

ACRES Commercial Realty Corp. entered into Guaranties (including Guaranty Agreement, Completion Guaranty Agreement, Carry Guaranty Agreement, and Environmental Indemnity Agreement) with Oceanview Life and Annuity Company valued at $48 million (effective 2023-01-24).

“On January 24, 2023, in connection with ACRES Commercial Realty Corp.’s (the “Company”) investment in a student housing complex, ACRES Realty Funding, Inc., a direct, wholly-owned subsidiary of the Company (“ARF”) entered into guaranties related to a $48 million construction loan made by the joint venture in which the Company has a membership interest.”

ACRES Commercial Realty Corp. amended term loan of not to exceed $500 million with Massachusetts Mutual Life Insurance Company at 1-Month Term SOFR plus the Applicable Spread maturing five years from the end of the issuance date for the term loan series.

“The Amended and Restated Loan Agreement amends and restates the existing loan and servicing agreement, as amended from time to time, entered into on July 31, 2020 by Holdings, the Borrower, MassMutual, the Lenders, Wells Fargo and ACRES Capital Servicing LLC (“Original Loan and Servicing Agreement”), to reflect a senior secured term loan facility, not to exceed $500 million, composed of individual loan series issued upon mutual agreement of the Borrower and Lenders.”

ACRES Commercial Realty Corp. amended Amended and Restated Loan Agreement with Massachusetts Mutual Life Insurance Company, the other lenders party thereto, ACRES Capital Servicing LLC, Plymouth Meeting Holdings, LLC, Exantas Phili Holdings, Appleton Hotel Leasing, LLC, Appleton Hotel Holdings, LLC, and ACRES Real Estate TRS 9 LLC valued at not to exceed $500 million (effective 2022-12-22).

“On December 22, 2022, RCC Real Estate SPE Holdings LLC (“Holdings”), an indirect, wholly-owned subsidiary of ACRES Commercial Realty Corp., and RCC Real Estate SPE 9 LLC (the “Borrower”), a direct, wholly-owned subsidiary of Holdings, entered into an Amended and Restated Loan and Servicing Agreement (the “Amended and Restated Loan Agreement”) with Massachusetts Mutual Life Insurance Company (“MassMutual”, also serving as facility servicer, administrative agent and collateral custodian), the other lenders party thereto (the “Lenders”), ACRES Capital Servicing LLC, an affiliate of ACRES Capital, LLC, as the portfolio asset servicer, and Plymouth Meeting Holdings, LLC and Exantas Phili Holdings, each as a permitted REO subsidiary, Appleton Hotel Leasing, LLC as Opco and Appleton Hotel Holdings, LLC as Propco and ACRES Real Estate TRS 9 LLC as a TRS subsidiary.”

ACRES Commercial Realty Corp. reported quarter ended September 30, 2022 results: net income $713,000, or $0.08 per share-diluted.

“ACR’s GAAP net income allocable to common shares was $713,000, or $0.08 per share-diluted, for the quarter ended September 30, 2022.”