X0306 4 2019-05-02 0 0001045425 RAIT Financial Trust RASF 0001634358 Reyle John J. C/O RAIT FINANCIAL TRUST 2 LOGAN SQUARE, 100 N. 18TH ST, 23RD FL PHILADELPHIA PA 19103 0 1 0 1 CEO, President & GC Trustee Common Shares of Beneficial Interest 2019-05-02 4 F 0 26 D 766 D This forfeiture was undertaken solely to satisfy tax withholding liabilities relating to the vesting of a restricted share award held by the reporting person. The reporting person made the withholding election on May 2, 2019 with respect to restricted shares that vested on April 26, 2019. The aggregate value of the common shares so withheld was based on the closing price of the common shares on the OTCQB on the vesting date which was $0.92, and did not exceed the maximum applicable withholding tax rate for federal (including FICA), state, local and other tax liabilities. /s/ Anders F. Laren, attorney-in-fact 2019-05-03