On October 12, 2026, the Board of Directors of Sunrise Realty Trust, Inc. (Nasdaq: SUNS) authorized a stock repurchase program. Under this program, the company is permitted to repurchase up to $20.0 million of its outstanding common stock, which has a par value of $0.01 per share.
The repurchase authorization is valid through December 31, 2027. However, the program will not become effective until the closing of the company's proposed merger with Southern Realty Trust Inc. (SRT). No shares will be repurchased prior to the completion of this merger.
Following the merger's closing, Sunrise Realty Trust intends to repurchase at least $10.0 million of its common stock as soon as practicable. The remaining $10.0 million of the authorization is subject to specific pricing and other parameters.
The company expects all repurchases to be executed through written trading plans compliant with Rule 10b5-1 of the Securities Exchange Act of 1934. These transactions will also adhere to Rule 10b-18 and other applicable volume limitations and conditions. The company is not obligated to repurchase any specific number of shares or dollar amount, and the program may be modified, suspended, or terminated at any time without prior notice.
Repurchases may be conducted in the open market, through privately negotiated transactions, or via block trades, subject to applicable securities laws.
