X0306 4 2020-08-06 0 0001527590 Ready Capital Corp RC 0001689600 Buttacavoli Thomas 1251 AVENUE OF THE AMERICAS 50TH FLOOR NEW YORK NY 10020 0 1 0 0 Chief Investment Officer Common Stock 2020-08-06 4 A 0 17968 A 23469 I By Waterfall Common Stock 113361 D On August 6, 2020, the board of the directors of the Issuer approved the issuance of 208,690 shares of Common Stock to Waterfall Asset Management, LLC, its external manager (the "Manager"), as payment of 50% of the incentive distribution payable to the Manager pursuant to the management agreement between the Issuer and the Manager. The 17,968 shares of Common Stock reported on this Form 4 represent the Reporting Person's pro rata ownership of the 208,690 shares based on the Reporting Person's percentage ownership in the Manager. These shares represent the 23,469 shares of Common Stock of the Issuer out of the 263,695 and 8,869 total shares of Common Stock held by the Manager and Waterfall Management, LLC ("WM" and together with the Manager, "Waterfall"), respectively, including through each entity's ownership of Sutherland REIT Holdings, LP (the "Partnership") based on the Reporting Person's percentage ownership in Waterfall. The Reporting Person disclaims beneficial ownership of the shares held by Waterfall, except to the extent of his economic interest therein. On March 11, 2020, the Issuer's Board of Directors declared a quarterly cash dividend of $0.40 per share of common stock. On March 20, 2020, the Issuer announced that the dividend will be paid in a combination of cash and common stock on April 30, 2020 to common stockholders of record as of the close of business of March 31, 2020. As a result, the Manager received 2,956 shares and WM received 415 shares of Common Stock. The 291 shares of Common Stock reflected on this Form 4 represent the reporting person's pro rata ownership of the 3,371 shares based on the reporting person's percentage of direct ownership interests in the Manager and WM. On March 11, 2020, the Issuer's Board of Directors declared a quarterly cash dividend of $0.40 per share of common stock. On March 20, 2020, the Issuer announced that the dividend will be paid in a combination of cash and common stock on April 30, 2020 to common stockholders of record as of the close of business of March 31, 2020. As a result, the reporting person received approximately 5,301 shares of the Issuer's common stock. /s/ Thomas Buttacavoli 2020-08-10