Arbor Realty (ABR) Insider Filing: 856 RSUs Issued to Director Lazar

Rhea-AI Filing Summary

Arbor Realty Trust director Melvin F. Lazar received 856 fully vested Restricted Stock Units (RSUs) on August 29, 2025, as dividend equivalents on his existing RSUs. The reported transaction shows an attributable value of $11.94 per share, and after the award Mr. Lazar beneficially owns 34,940 shares of Arbor Realty Trust, Inc. (ABR). Mr. Lazar elected to defer the dividend equivalents and the issuance of common stock underlying the RSUs until his service as a director ends or earlier upon a change in control, under a pre-established deferral election. The Form 4 was signed by an attorney-in-fact on September 3, 2025.

Positive

• Director alignment: Mr. Lazar received vested RSUs, increasing his beneficial stake to 34,940 shares, which reinforces alignment with shareholders.
• No cash outlay: The acquisition resulted from dividend equivalents converted to RSUs, indicating compensation was settled in equity rather than cash.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received dividend-equivalent RSUs and deferred their distribution under an established plan; routine governance disclosure.

This filing documents a non-cash compensation event where a director converted dividend equivalents into 856 vested RSUs and elected deferral of shares until termination or change in control. Such elections are common governance mechanisms to align director incentives and manage tax timing. The disclosure is straightforward, shows no acceleration or special one-time grant beyond dividend equivalents, and contains clear vesting/delivery conditions tied to service or corporate change events.

Securities Analyst

TL;DR: Insider beneficial ownership increased modestly by 856 RSUs to 34,940 shares; no cash transaction reported.

The Form 4 reports an acquisition code for dividend-equivalent RSUs with a per-share value noted at $11.94 and a post-transaction beneficial ownership of 34,940 shares. This represents a routine, immaterial increase in director ownership relative to typical institutional holdings and does not indicate market-moving insider buying or selling. The deferral election delays actual share issuance, which may affect short-term float but is unlikely to be material to valuation by itself.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LAZAR MELVIN F

(Last) (First) (Middle)

C/O ARBOR REALTY TRUST, INC.

333 EARLE OVINGTON BLVD, SUITE 900

(Street)

UNIONDALE NY 11553

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ARBOR REALTY TRUST INC [ ABR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	08/29/2025		A(1)		856		(1)	(1)	Common Stock, par value $0.01 per share	856	$11.94	34,940	D

Explanation of Responses:

1. On August 29, 2025, Mr. Lazar received 856 fully vested Restricted Stock Units ("RSUs") of Arbor Realty Trust, Inc. (the "Company") in lieu of the dividend equivalent due on Mr. Lazar's existing RSUs and paid by the Company on August 29, 2025. Mr. Lazar has elected to defer his dividend equivalents and receipt of the common stock into which the RSUs are converted until his service as a director is terminated, or sooner upon a change in control, pursuant to a pre-established deferral election.

	/s/ Maysa Vahidi, Attorney-in-Fact for Melvin F. Lazar	09/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did Melvin F. Lazar report on the Form 4 for ABR?

He reported receipt of 856 fully vested RSUs on 08/29/2025, increasing his beneficial ownership to 34,940 shares.

Were the RSUs paid in cash or stock for ABR director Melvin F. Lazar?

The RSUs were issued in lieu of dividend equivalents and converted into equity; no cash payment was reported.

When will Mr. Lazar receive the common stock underlying the RSUs?

He elected to defer receipt until his director service ends or sooner upon a change in control, per a pre-established deferral election.

What was the per-share value noted for the RSU transaction on the Form 4?

The filing shows a value of $11.94 per share for the reported RSUs.

Who signed the Form 4 and when?

The Form 4 was signed by an attorney-in-fact, Maysa Vahidi, on 09/03/2025.