Frederick C. Herbst

The Named Executive Officers (other than our Chief Operating Officer) are employees of our Manager or its affiliates and are not paid cash compensation by us. The amounts reported in the "Stock Awards" column represent the aggregate grant date fair value of awards of restricted shares of Common Stock calculated under US GAAP ASC 718. Under ASC 718, the grant date fair value is calculated using the closing market price of our Common Stock on the date of grant. This amount represents tax gross-up and medical and dental benefits reimbursed by Ready Capital to our Manager. Prior to becoming our Chief Financial Officer effective June 1, 2019, Mr. Ahlborn was exclusively dedicated to our affairs and the amounts set forth in table above represent the total compensation reimbursed by us to our Manager for his services during 2019 (including the period from January 1, 2019 to May 31, 2019). Amounts for Mr. Taylor represent his compensation for his service as Chief Operating Officer, which was made effective in April 2019. Amounts for Mr. Herbst represent his compensation for his service as Chief Financial Officer until his resignation effective in June 2019.