Ready Capital Corp 2024年度报告

(212) 257-4600 (Registrant's telephone number, including area code) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (orfor such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of thischapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See thedefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 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 accountingstandards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting underSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Yes☒No☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of anerror to previously issued financial statements. Yes☐No☒ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’sexecutive officers during the relevant recovery period pursuant to §240.10D-1(b). Yes☐No☒ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of June 30, 2024, the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was $1,313.4 million based on the closing sales price of theregistrant’s common stock on June 30, 2024 as reported on the New York Stock Exchange. Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date: The registrant has 163,151,086 shares of common stock, parvalue $0.0001 per share, outstanding as of February 28, 2025 . DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s proxy statement for the 2025 annual meeting of stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K. TABLE OF CONTENTS PART I7Item 1. Business7Item 1A. Risk Factors19Item 1B. Unresolved Staff Comments73Item 1C. Cybersecurity73Item 2. Properties74Item 3. Legal Proceedings74Item 4. Mine Safety Disclosures74PART II74Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchasesof Equity Securities74Item 6. [Reserved]77Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations77Item 7A. Quantitative and Qualitative Disclosures About Market Risk96Item 8. Financial Statements and Supplementary Data100Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure169Item 9A. Controls and Procedures169Item 9B. Other Information170Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections170PART III170Item 10. Directors, Executive Officers and Corporate Governance170Item 11. Executive Compensation171Item 12. Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters171Item 13. Certain Relationships and Related Transactions and Director Independence171Item 14. Principal Accountant Fees and Services171PART IV171Item 15. Exhibits and Financial Statement Schedules171Item 16. Form 10-K Summary176SIGNATURES176 FORWARD-LOOKING STATEMENTS Except where the context suggests otherwise, the terms “Company,” “we,” “us” and “our” refer to Ready CapitalCorporation and its subsidiaries. We make forward-looking statements in this Annual Report on Form 10-K within themeaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, asamended (the “Securities Act”), and Section