X0306 4 2016-04-06 0 0001045425 RAIT Financial Trust RAS 0001598643 Davidson Scott L.N. C/O RAIT FINANCIAL TRUST 2929 ARCH STREET, 17TH FLOOR PHILADELPHIA PA 19104 0 1 0 0 President Common Shares of Beneficial Interest 2016-04-06 4 F 0 3749 3.14 D 138546 D This forfeiture was undertaken solely to satisfy a tax withholding liability relating to the vesting of restricted share awards held by the reporting person. The reporting person made the withholding election on April 6, 2016 with respect to restricted shares that vested on March 31, 2016. /s/ Anders F. Laren, attorney-in-fact 2016-04-08