UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, 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 24, 2020
INPOINT COMMERCIAL REAL ESTATE INCOME, INC.
(Exact name of registrant as specified in its charter)
Maryland | 000-55782 | 32-0506267 |
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
2901 Butterfield Road Oak Brook, Illinois |
| 60523 |
(Address of principal executive offices) |
| (Zip Code) |
(800) 826-8228
(Registrant’s telephone number, including area code)
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 |
| ☐ | Soliciting material pursuant to Rule 14a‑12 under the Exchange Act |
| ☐ | Pre‑commencement communications pursuant to Rule 14d‑2(b) under the Exchange Act |
| ☐ | Pre‑commencement communications pursuant to Rule 13e‑4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
| Trading Symbol(s) |
| Name of each exchange on which registered |
None |
| None |
| None |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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. ☑
For the year ended December 31, 2019, Inpoint Commercial Real Estate Income, Inc. (the “Company”) paid cash dividends of approximately $16,370,429. For income tax purposes, 77.0% were treated as ordinary dividends and 23.0% 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). The following table denotes the nature of the Company’s monthly cash dividends paid in 2019 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 2019. All amounts are stated in dollars per share.
Record Date(s) |
| Distribution Payment Date |
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| Total Cash Dividends |
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| Ordinary Dividend |
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| Capital Gain |
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| Nondividend Distributions |
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Class P Common Stock: |
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December 1-31, 2018 |
| January 2, 2019 |
| $ | 0.163068 |
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| $ | 0.125523 |
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| $ | — |
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| $ | 0.037545 |
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January 1-31, 2019 |
| February 1, 2019 |
| $ | 0.163068 |
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| $ | 0.125523 |
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| $ | — |
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| $ | 0.037545 |
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February 1-28, 2019 |
| March 1, 2019 |
| $ | 0.147288 |
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| $ | 0.113376 |
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| $ | — |
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| $ | 0.033912 |
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March 1-31, 2019 |
| April 1, 2019 |
| $ | 0.163068 |
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| $ | 0.125523 |
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| $ | — |
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| $ | 0.037545 |
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April 1-30, 2019 |
| May 1, 2019 |
| $ | 0.157808 |
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| $ | 0.121474 |
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| $ | — |
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| $ | 0.036334 |
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May 1-31, 2019 |
| June 1, 2019 |
| $ | 0.163068 |
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| $ | 0.125523 |
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| $ | — |
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| $ | 0.037545 |
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June 1-30, 2019 |
| July 1, 2019 |
| $ | 0.157808 |
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| $ | 0.121474 |
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| $ | — |
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| $ | 0.036334 |
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July 1-31, 2019 |
| August 1, 2019 |
| $ | 0.163068 |
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| $ | 0.125523 |
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| $ | — |
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| $ | 0.037545 |
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August 31, 2019 |
| September 18, 2019 |
| $ | 0.160000 |
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| $ | 0.123161 |
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| $ | — |
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| $ | 0.036839 |
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September 30, 2019 |
| October 17, 2019 |
| $ | 0.160000 |
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| $ | 0.123161 |
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| $ | — |
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| $ | 0.036839 |
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October 31, 2019 |
| November 19, 2019 |
| $ | 0.160000 |
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| $ | 0.123161 |
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| $ | — |
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| $ | 0.036839 |
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November 30, 2019 |
| December 18, 2019 |
| $ | 0.160000 |
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| $ | 0.123161 |
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| $ | — |
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| $ | 0.036839 |
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Class A Common Stock: |
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September 30, 2019 |
| October 17, 2019 |
| $ | 0.135000 |
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| $ | 0.103917 |
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| $ | — |
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| $ | 0.031083 |
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October 31, 2019 |
| November 19, 2019 |
| $ | 0.135000 |
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| $ | 0.103917 |
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| $ | — |
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| $ | 0.031083 |
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November 30, 2019 |
| December 18, 2019 |
| $ | 0.135000 |
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| $ | 0.103917 |
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| $ | — |
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| $ | 0.031083 |
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Class D Common Stock: |
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September 30, 2019 |
| October 17, 2019 |
| $ | 0.129855 |
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| $ | 0.099957 |
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| $ | — |
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| $ | 0.029898 |
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October 31, 2019 |
| November 19, 2019 |
| $ | 0.129686 |
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| $ | 0.099827 |
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| $ | — |
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| $ | 0.029859 |
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November 30, 2019 |
| December 18, 2019 |
| $ | 0.129865 |
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| $ | 0.099965 |
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| $ | — |
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| $ | 0.029900 |
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Class I Common Stock: |
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August 31, 2019 |
| Septenber 18, 2019 |
| $ | 0.135001 |
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| $ | 0.103918 |
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| $ | — |
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| $ | 0.031083 |
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September 30, 2019 |
| October 17, 2019 |
| $ | 0.135000 |
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| $ | 0.103918 |
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| $ | — |
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| $ | 0.031082 |
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October 31, 2019 |
| November 19, 2019 |
| $ | 0.135000 |
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| $ | 0.103917 |
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| $ | — |
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| $ | 0.031083 |
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November 30, 2019 |
| December 18, 2019 |
| $ | 0.135000 |
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| $ | 0.103917 |
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| $ | — |
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| $ | 0.031083 |
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Class T Common Stock: |
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August 31, 2019 |
| Septenber 18, 2019 |
| $ | 0.117215 |
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| $ | 0.090227 |
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| $ | — |
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| $ | 0.026988 |
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September 30, 2019 |
| October 17, 2019 |
| $ | 0.117484 |
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| $ | 0.090434 |
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| $ | — |
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| $ | 0.027050 |
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October 31, 2019 |
| November 19, 2019 |
| $ | 0.116914 |
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| $ | 0.089996 |
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| $ | — |
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| $ | 0.026918 |
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November 30, 2019 |
| December 18, 2019 |
| $ | 0.117505 |
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| $ | 0.090450 |
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| $ | — |
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| $ | 0.027055 |
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1
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. | |
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By: | /s/ Catherine L. Lynch |
Name: | Catherine L. Lynch |
Title: | Chief Financial Officer |
Date: | January 24, 2020 |
2