SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Riis Glenn

(Last)

(First)

(Middle)

C/O RAIT FINANCIAL TRUST

2 LOGAN SQ., 100 N. 18TH ST., 23RD FL.

(Street)

PHILADELPHIA

19103

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/15/2017

3. Issuer Name and Ticker or Trading Symbol
RAIT Financial Trust [ RAS ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Senior Managing Director

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares of Beneficial Interest	89,598	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Share Appreciation Right	⁽¹⁾	02/14/2022	Common Shares of Beneficial Interest	87,500	$3.78	D
Share Appreciation Right	⁽²⁾	02/22/2021	Common Shares of Beneficial Interest	87,500	$2.38	D
Share Appreciation Right	⁽³⁾	02/10/2020	Common Shares of Beneficial Interest	45,000	$7.23	D
Share Appreciation Right	⁽⁴⁾	01/29/2019	Common Shares of Beneficial Interest	50,000	$8.29	D

Explanation of Responses:

1. These share appreciation rights vest in three equal annual installments beginning on February 14, 2018.

2. These share appreciation rights vest in three equal annual installments beginning on February 22, 2017.

3. These share appreciation rights vest in three equal annual installments beginning on February 10, 2016.

4. These share appreciation rights vest in three equal annual installments beginning on January 29, 2015.

Remarks:

Exhibit List Exhibit 24-Power of Attorney

	Anders Laren, attorney-in-fact	02/24/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.