{"url_path":"/sec/cik-0001544190/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1544190/0001493152-26-023055-index.html","accession_number":"0001493152-26-023055","cik":"0001544190","ticker":null,"issuer_name":"Shepherd's Finance, LLC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1544190/0001493152-26-023055-index.html","primary_entity_key":"0001544190","primary_entity_name":"Shepherd's Finance, LLC"},"word_count":242,"has_tables":true,"body_markdown":"**ITEM\n2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**\n\n \n\n \n(a)\n**Reinvestments in Partial Series C Cumulative\nPreferred Units**\n\n \n \n \n\n \n \nInvestors in the Series\nC cumulative preferred units (“Series C Preferred Units”) may elect to reinvest their distributions in additional Series\nC Preferred Units (the “Series C Reinvestment Program”). Pursuant to the Series C Reinvestment Program, we issued the\nfollowing Series C Preferred Units during the quarter ended March 31, 2026:\n\n \n\n**(amounts in this table are not in thousands)**\n\n**Owner**\n \nUnits  \nAmount \n\nDaniel M. and Joyce S. Wallach \n 34.00151  \n$34,001.51 \n\nGregory L. Sheldon and Madeline M. Sheldon \n 38.03592  \n 38,035.92 \n\nSchultz Family Living Trust \n 7.08026  \n 7,080.26 \n\nFernando Ascencio and Lorraine Carol Ascencio \n 13.24722  \n 13,247.22 \n\nMark and Tris Ann Garboski \n 44.78185  \n 44,781.85 \n\nTotal \n 137.14676  \n$137,146.76 \n\n \n\n \n \nThe proceeds received from\nthe sales of the partial Series C Preferred Units in these transactions were used for the funding of construction loans. The transactions\nin Series C Preferred Units described above were effected in private transactions exempt from the registration requirements of the\nSecurities Act under Section 4(a)(2) of the Securities Act. The transactions described above did not involve any public offering,\nwere made without general solicitation or advertising, and the buyer represented to us that he/she/it is an “accredited investor”\nwithin the meaning of Rule 501 of Regulation D promulgated under the Securities Act, with access to all relevant information necessary\nto evaluate the investment in the Series C Preferred Units.\n\n \n \n \n\n \n(b)\nNot applicable.\n\n \n \n \n\n \n(c)\nNone."}