8-K
InPoint Commercial Real Estate Income, Inc. (ICR-PA)
UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
| Date of Report (Date of earliest event reported): January 23, 2024 |
|---|
InPoint Commercial Real Estate Income, Inc.
(Exact name of Registrant as Specified in Its Charter)
| Maryland | 001-40833 | 32-0506267 |
|---|---|---|
| (State or Other Jurisdiction<br>of Incorporation) | (Commission File Number) | (IRS Employer<br>Identification No.) |
| 2901 Butterfield Road | ||
| Oak Brook, Illinois | 60523 | |
| (Address of Principal Executive Offices) | (Zip Code) | |
| Registrant’s Telephone Number, Including Area Code: (800) 826-8228 | ||
| --- | ||
| N/A | ||
| --- |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br>Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| 6.75% Series A Cumulative Redeemable Preferred Stock, par value $0.001 per share | ICR PR A | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Item 8.01 Other Events.
For the year ended December 31, 2023, InPoint Commercial Real Estate Income, Inc. (the "Company") paid common stock cash distributions of approximately $12.6 million and preferred stock cash distributions of approximately $6.0 million. For income tax purposes for the common stock distributions, 53.2% were treated as ordinary dividends and 46.8% were treated as nondividend distributions (which are treated for income tax purposes as a return of capital to the extent of a stockholder's basis in its shares and thereafter as capital gain). For income tax purposes for the preferred stock distributions, all of the distributions were treated as ordinary dividends. The following table denotes the nature of the Company's monthly cash distributions paid in 2023 for income tax purposes only. Stockholders are advised to consult with their tax advisors about the specific tax treatment of distributions paid by the Company in 2023. All amounts are stated in dollars per share.
| Record Date(s) | Distribution Payment Date | Total Cash Distributions | Ordinary Dividend | Capital Gain | Nondividend Distributions | ||||
|---|---|---|---|---|---|---|---|---|---|
| Class P Common Stock: | |||||||||
| December 31, 2022 | January 19, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| January 31, 2023 | February 21, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| February 28, 2023 | March 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| March 31, 2023 | April 18, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| April 30, 2023 | May 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| May 31, 2023 | June 20, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| June 30, 2023 | July 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| July 31, 2023 | August 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| August 31, 2023 | September 19, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| September 30, 2023 | October 18, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| October 31, 2023 | November 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| November 30, 2023 | December 19, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| Class A Common Stock: | |||||||||
| December 31, 2022 | January 19, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| January 31, 2023 | February 21, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| February 28, 2023 | March 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| March 31, 2023 | April 18, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| April 30, 2023 | May 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| May 31, 2023 | June 20, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| June 30, 2023 | July 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| July 31, 2023 | August 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| August 31, 2023 | September 19, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| September 30, 2023 | October 18, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| October 31, 2023 | November 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| November 30, 2023 | December 19, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| Class D Common Stock: | |||||||||
| December 31, 2022 | January 19, 2023 | $ | 0.1000 | $ | 0.0532 | $ | — | $ | 0.0468 |
| January 31, 2023 | February 21, 2023 | $ | 0.1000 | $ | 0.0532 | $ | — | $ | 0.0468 |
| February 28, 2023 | March 17, 2023 | $ | 0.1004 | $ | 0.0534 | $ | — | $ | 0.0470 |
| March 31, 2023 | April 18, 2023 | $ | 0.1001 | $ | 0.0533 | $ | — | $ | 0.0468 |
| April 30, 2023 | May 17, 2023 | $ | 0.1002 | $ | 0.0533 | $ | — | $ | 0.0469 |
| May 31, 2023 | June 20, 2023 | $ | 0.1001 | $ | 0.0533 | $ | — | $ | 0.0468 |
| June 30, 2023 | July 17, 2023 | $ | 0.1004 | $ | 0.0534 | $ | — | $ | 0.0470 |
| July 31, 2023 | August 17, 2023 | $ | 0.1005 | $ | 0.0535 | $ | — | $ | 0.0470 |
| August 31, 2023 | September 19, 2023 | $ | 0.1005 | $ | 0.0535 | $ | — | $ | 0.0470 |
| September 30, 2023 | October 18, 2023 | $ | 0.1006 | $ | 0.0536 | $ | — | $ | 0.0470 |
| October 31, 2023 | November 17, 2023 | $ | 0.1005 | $ | 0.0535 | $ | — | $ | 0.0470 |
| November 30, 2023 | December 19, 2023 | $ | 0.1006 | $ | 0.0536 | $ | — | $ | 0.0470 |
| Class I Common Stock: | |||||||||
| December 31, 2022 | January 19, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| January 31, 2023 | February 21, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| February 28, 2023 | March 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| March 31, 2023 | April 18, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| April 30, 2023 | May 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| May 31, 2023 | June 20, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| June 30, 2023 | July 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| July 31, 2023 | August 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| August 31, 2023 | September 19, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| September 30, 2023 | October 18, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| October 31, 2023 | November 17, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| November 30, 2023 | December 19, 2023 | $ | 0.1042 | $ | 0.0555 | $ | — | $ | 0.0487 |
| Class T Common Stock: | |||||||||
| December 31, 2022 | January 19, 2023 | $ | 0.0900 | $ | 0.0479 | $ | — | $ | 0.0421 |
| January 31, 2023 | February 21, 2023 | $ | 0.0900 | $ | 0.0479 | $ | — | $ | 0.0421 |
| February 28, 2023 | March 17, 2023 | $ | 0.0914 | $ | 0.0487 | $ | — | $ | 0.0427 |
| March 31, 2023 | April 18, 2023 | $ | 0.0903 | $ | 0.0481 | $ | — | $ | 0.0422 |
| April 30, 2023 | May 17, 2023 | $ | 0.0907 | $ | 0.0483 | $ | — | $ | 0.0424 |
| May 31, 2023 | June 20, 2023 | $ | 0.0903 | $ | 0.0481 | $ | — | $ | 0.0422 |
| June 30, 2023 | July 17, 2023 | $ | 0.0912 | $ | 0.0486 | $ | — | $ | 0.0426 |
| July 31, 2023 | August 17, 2023 | $ | 0.0916 | $ | 0.0488 | $ | — | $ | 0.0428 |
| August 31, 2023 | September 19, 2023 | $ | 0.0915 | $ | 0.0487 | $ | — | $ | 0.0428 |
| September 30, 2023 | October 18, 2023 | $ | 0.0920 | $ | 0.0490 | $ | — | $ | 0.0430 |
| October 31, 2023 | November 17, 2023 | $ | 0.0916 | $ | 0.0488 | $ | — | $ | 0.0428 |
| November 30, 2023 | December 19, 2023 | $ | 0.0920 | $ | 0.0490 | $ | — | $ | 0.0430 |
| Series A Cumulative Redeemable Preferred Stock: | |||||||||
| March 15, 2023 | March 30, 2023 | $ | 0.4219 | $ | 0.4219 | $ | — | $ | — |
| June 15, 2023 | June 30, 2023 | $ | 0.4219 | $ | 0.4219 | $ | — | $ | — |
| September 15, 2023 | September 29, 2023 | $ | 0.4219 | $ | 0.4219 | $ | — | $ | — |
| December 15, 2023 | December 29, 2023 | $ | 0.4219 | $ | 0.4219 | $ | — | $ | — |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INPOINT COMMERCIAL REAL ESTATE INCOME, INC. | |||
|---|---|---|---|
| Date: | January 23, 2024 | By: | /s/ Catherine L. Lynch |
| Catherine L. Lynch<br>Chief Financial Officer |