X0306 4 2019-02-14 0 0001045425 RAIT Financial Trust RASFN 0000904853 Amster Howard 23811 CHAGRIN BLVD # 200 BEACHWOOD OH 44122-5525 0 0 1 0 RASFN RAIT FINANCIAL TRUST 8.875% SERIES C CUMULATIVE 2019-02-14 4 P 0 30000 3 A 1134514 I SEE EXPLANATION BELOW Howard Amster Maintains Direct Ownership of the Following Shares; RASFP RAIT Financial Trust 7.75% Series A Cumulative 272,590 RASFO RAIT Financial Trust 8.375% Series B Cumulative 132,380 RASFN RAIT Financial Trust 8.875% Series C Cumulative 60,598 Howard Amster Maintains Indirect Ownership of the Following Shares; RASFP RAIT Financial Trust 7.75% Series A Cumulative Amster L.P. Gen Prtr 18,400 Laughlin Holdings LLC Pres. Maj. Mbr 42,400 NewAx Inc. Maj. Shrhldr 1,100 Pleasant Lake Apts L.P. Prs. Gen Ptnr 86,928 Ramat Securities Ltd LLC Maj Mbr 65,700 Somerset Outlet Centers L.P Pres Gen Ptnr 39,300 RASFO RAIT Financial Trust 8.375% Series B Cumulative Amster L.P. Gen Ptnr 33,677 Horizon Group Properties Inc. Maj. Shrdr 2,400 Pleasant Lake Apts Corp Sole Shrdr 3,400 Pleasant Lake Apts L.P. Pres Gen Ptnr 152,799 Pleasant Lake Skoien Inv LLC Pres Maj Mbr 4,974 Ramat Securities Ltd LLC Maj Mbr 43,959 RASFN RAIT Financial Trust 8.875% Series C Cumulative Amster L.P. Gen Ptnr 1,300 Laughlin Holding LLC Pres Maj Mmbr 15,031 Pleasant Lake Apts L.P. Pres Gen Ptnr 120,773 Pleasant Lake Skoien Inv LLC Pres Maj Mbr 6,300 Ramat Securities Ltd LLC Maj Mbr 14,405 Somerset Outlet Centers L.P. Pres Gen Prtr 16,100 HOWARD AMSTER 2019-02-15