Welcome to our dedicated page for Adamas Trust SEC filings (Ticker: ADAM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Adamas Trust, Inc. (Nasdaq: ADAM) SEC filings page aggregates the company’s official submissions to the U.S. Securities and Exchange Commission, including current reports on Form 8-K and other registered securities documents. As a Maryland corporation that has elected REIT tax status, Adamas uses these filings to report material events, financial results, dividend declarations and details about its listed common stock, preferred stock and senior notes.
Recent Form 8-K filings show Adamas Trust announcing quarterly financial results for periods such as the three and nine months ended September 30, 2025, along with supplemental financial information. These filings describe net income, earnings available for distribution, net interest income, yields on average interest earning assets, average financing costs, net interest spread and segment information across its investment portfolio, Constructive Loans, LLC and corporate or other activities. Other 8-Ks document Board decisions to declare regular quarterly cash dividends on common stock and on the company’s Series D, E, F and G preferred stock, specifying the applicable dividend periods.
SEC filings also list the securities registered under Section 12(b) of the Exchange Act, including Adamas Trust’s common stock (ADAM), its various preferred stock series (ADAMN, ADAMM, ADAML, ADAMZ) and senior notes due 2029 and 2030 (ADAMI, ADAMG, ADAMH). Separate registration statements and prospectus supplements support public offerings of senior unsecured notes, such as the company’s senior notes due 2031, where Adamas discloses coupon terms, maturity, redemption features, intended use of proceeds and planned listing on the Nasdaq Global Select Market.
On Stock Titan, these filings are paired with AI-powered summaries that explain the key points of lengthy documents, helping readers interpret complex tables, non-GAAP reconciliations and capital structure disclosures. Users can quickly locate quarterly and annual reports, dividend-related 8-Ks and information on listed debt and preferred securities, while automated updates ensure new EDGAR submissions for ADAM appear promptly with concise explanations.
Adamas Trust, Inc. files its annual report detailing operations as an internally managed mortgage REIT focused on single-family and multi-family credit assets and Agency RMBS. The company targets diversified, leveraged exposure to residential credit while maintaining REIT and Investment Company Act compliance.
The investment portfolio emphasizes Agency RMBS and residential loans, including business purpose loans originated through wholly owned subsidiary Constructive Loans, now fully acquired after buying the remaining 50% interest on July 15, 2025. As of December 31, 2025, 63% of the portfolio was Agency RMBS and about 31% was residential loans and non-Agency RMBS.
Adamas is shifting capital toward single-family assets and away from multi-family joint venture equity, retaining multi-family exposure mainly through preferred equity and a cross-collateralized mezzanine structure. It owned 471 single-family rental properties as of December 31, 2025 and reported a company recourse leverage ratio of about 5.0 to 1.
The report highlights use of repurchase agreements, securitizations and interest rate derivatives such as swaps and TBAs, along with detailed risk factors around interest rates, prepayments, credit performance, financing access and regulatory requirements. Adamas had 221 full-time employees and a non-affiliate common equity market value of $595,566,089 as of June 30, 2025.
Adamas Trust reported strong fourth quarter and full year 2025 results, swinging to profitability and growing its real estate investment portfolio. Net income attributable to common stockholders was $41.6 million for the quarter and $101.1 million for the year, compared with a loss in 2024.
Fourth quarter basic EPS was $0.46, while earnings available for distribution (EAD), a key non-GAAP metric, were $20.4 million or $0.23 per share, up 44% year over year. Book value per common share ended 2025 at $9.60 and adjusted book value at $10.63, with a quarterly economic return on book value of 6.85%.
The investment portfolio expanded to about $10.5 billion from $7.4 billion a year earlier, driven by Agency RMBS and business purpose loans, while interest income rose to $601.9 million and net interest income to $149.3 million. Adamas closed multiple securitizations, issued high-coupon senior notes, fully acquired its Constructive lending platform, raised the quarterly common dividend 15% to $0.23, and extended sizable common and preferred share repurchase programs into 2027.
Adamas Trust, Inc.'s Chief Executive Officer and director Jason T. Serrano reported a share withholding related to equity compensation. On January 27, 2026, he surrendered 5,827 shares of common stock at $8.41 per share to cover taxes due on vesting of restricted stock granted under the company’s 2017 Equity Incentive Plan. After this tax-related transaction, he directly beneficially owned 389,714 shares of common stock.
Adamas Trust, Inc. Chief Financial Officer Kristine R. Nario-Eng reported a routine share withholding related to equity compensation. On January 27, 2026, she surrendered 751 shares of common stock at $8.41 per share to cover tax liabilities from vesting restricted stock under the company’s 2017 Equity Incentive Plan.
After this tax-related surrender, she beneficially owns 156,546 shares of Adamas Trust common stock, held directly. The transaction is coded "F," indicating it was for payment of taxes rather than an open-market sale.
Adamas Trust, Inc. president Mah Nicholas reported a routine tax-related share surrender. On 01/27/2026, 2,237 shares of common stock at $8.41 per share were surrendered to cover tax liabilities arising from the vesting of restricted stock under Adamas Trust, Inc.'s 2017 Equity Incentive Plan (as amended). After this transaction, Nicholas directly held 251,456 common shares.
Adamas Trust, Inc. reported that Chief Financial Officer Kristine R. Nario-Eng received an equity award of 61,989 restricted stock units (RSUs) on January 22, 2026 under the company’s 2017 Equity Incentive Plan and 2026 Long-Term Equity Plan. The RSUs were granted at a price of $0 as a form of stock-based compensation and will vest in three equal installments, with one-third becoming fully vested and non-forfeitable on each of January 1, 2027, January 1, 2028, and January 1, 2029. Upon vesting, each RSU entitles her to receive one share of Adamas common stock, along with dividend equivalent rights that provide cash or stock payments equal to any dividends paid on the underlying shares. Following this grant, she beneficially owns 122,543 derivative securities in the form of RSUs held directly.
Adamas Trust, Inc. reported that its President, Nicholas Mah, received a grant of restricted stock units on January 22, 2026 under the company’s equity incentive plans. The award covers 127,321 restricted stock units at an exercise price of $0, which will convert into an equal number of common shares as they vest.
According to the award terms, one-third of the units will vest and become non‑forfeitable on each of January 1, 2027, January 1, 2028 and January 1, 2029, subject to the conditions in the RSU agreement. The grant also includes dividend equivalent rights, allowing Mah to receive cash or stock payments equal to any dividends paid on the underlying common shares once the RSUs vest. After this grant, he beneficially owns 257,337 derivative securities in the form of RSUs held directly.
Adamas Trust, Inc. reported that Chief Executive Officer and director Jason T. Serrano received an award of 216,711 restricted stock units (RSUs) on January 22, 2026 under the company’s equity incentive plans. These RSUs vest in three equal installments, with one‑third becoming fully vested and non‑forfeitable on each of January 1, 2027, January 1, 2028, and January 1, 2029. Each RSU represents the right to receive one share of Adamas common stock upon vesting, at an exercise price of $0, subject to the award agreement’s terms and conditions. The grant also includes dividend equivalent rights that, upon vesting, entitle Serrano to cash or stock payments equal to any dividends paid on the underlying common shares. Following this award, he beneficially owns 427,216 derivative securities in the form of RSUs, held directly.
Adamas Trust, Inc. issued and sold $90 million aggregate principal amount of its 9.250% Senior Notes due 2031 in a public offering under an existing shelf registration. The notes were priced at 100% of principal, pay cash interest quarterly beginning April 1, 2026, and are expected to mature on April 1, 2031, with the company able to redeem them on or after April 1, 2028 at par plus accrued interest. Net proceeds are expected to be about $86.6 million, which the company plans to use for general corporate purposes, including acquiring targeted assets and/or repaying existing debt. The notes are senior unsecured obligations ranking equally with Adamas Trust’s other unsecured senior notes and are governed by an existing indenture and a fifth supplemental indenture that include customary events of default.
Adamas Trust, Inc. is offering $90,000,000 principal amount of 9.250% Senior Notes due 2031. The notes pay a fixed 9.250% annual coupon, with interest paid quarterly starting April 1, 2026, and mature on April 1, 2031. Adamas may redeem them at par on or after April 1, 2028, plus accrued interest, and must offer to repurchase them at 101% of principal if a defined Change of Control Repurchase Event occurs.
The notes are senior unsecured obligations ranking equally with the company’s existing unsecured notes and behind secured and subsidiary-level debt. The public offering price is $25 per note, generating approximately $87.2 million in gross proceeds and about $86.6 million in net proceeds, which Adamas intends to use for general corporate purposes, including acquiring targeted assets and/or repaying existing indebtedness. An additional $13.5 million principal amount may be sold through an over-allotment option. The company has applied to list the notes on Nasdaq under the symbol “ADAMO.”