<SEC-DOCUMENT>0001628280-21-009819.txt : 20210511
<SEC-HEADER>0001628280-21-009819.hdr.sgml : 20210511
<ACCEPTANCE-DATETIME>20210511163715
ACCESSION NUMBER:		0001628280-21-009819
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210510
FILED AS OF DATE:		20210511
DATE AS OF CHANGE:		20210511

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Ogren John Kirk JR
		CENTRAL INDEX KEY:			0001633199

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36844
		FILM NUMBER:		21911847

	MAIL ADDRESS:	
		STREET 1:		9400 SW BEAVERTON-HILLSDALE HWY
		STREET 2:		SUITE 131
		CITY:			BEAVERTON
		STATE:			OR
		ZIP:			97005

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Great Ajax Corp.
		CENTRAL INDEX KEY:			0001614806
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				465211780
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9400 SW BEAVERTON-HILLSDALE HIGHWAY
		STREET 2:		SUITE 131
		CITY:			BEAVERTON
		STATE:			OR
		ZIP:			97005
		BUSINESS PHONE:		503-295-5800

	MAIL ADDRESS:	
		STREET 1:		9400 SW BEAVERTON-HILLSDALE HIGHWAY
		STREET 2:		SUITE 131
		CITY:			BEAVERTON
		STATE:			OR
		ZIP:			97005
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_162076541573081.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-05-10</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001614806</issuerCik>
        <issuerName>Great Ajax Corp.</issuerName>
        <issuerTradingSymbol>AJX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001633199</rptOwnerCik>
            <rptOwnerName>Ogren John Kirk JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>13190 SW 68TH PARKWAY</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 110</rptOwnerStreet2>
            <rptOwnerCity>TIGARD</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97223</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2021-05-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.60</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>47245.4812</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2021-05-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>789</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.67</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>48034.4812</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>106.029</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By daughter</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>106.029</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By son</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>106.029</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By daughter</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>7.25% Convertible Notes due 2024</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>14.47</value>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2023-04-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2024-04-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2591.85</value>
                    <footnoteId id="F6"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Granted pursuant to the 2014 Director Equity Plan; 2,000 shares vest immediately and the remaining 2,000 shares are subject to a one-year vesting period.</footnote>
        <footnote id="F2">Includes 554.250 shares acquired on March 31, 2021 under the Issuer's Dividend Reinvestment Plan.</footnote>
        <footnote id="F3">Payment of director fees for first quarter ended March 31, 2021. Price per share is the average closing price per share for the first five days preceding the dividend record date of March 18, 2021.</footnote>
        <footnote id="F4">Includes 1.587 shares acquired on March 31, 2021 under the Issuer's Dividend Reinvestment Plan.</footnote>
        <footnote id="F5">The conversion rate of the 7.25% convertible notes due 2024 (the &quot;Notes&quot;) equals 1.7279 shares of the Issuer's common stock per $25.00 principal amount of the Notes (equivalent to a conversion price of approximately $14.47 per share of the Issuer's common stock). The conversion rate, and thus the conversion price, will be subject to adjustment in accordance with the terms of the Notes.</footnote>
        <footnote id="F6">Calculated based on the conversion rate of 1.7279 shares of the Issuer's common stock per $25.00 principal amount of Notes.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ John Kirk Ogren, Jr.</signatureName>
        <signatureDate>2021-05-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
