ADAM director granted 14,238 deferred stock units

Clement Michael B. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Clement Michael B. reported acquisition or exercise transactions in this Form 4 filing.

ADAMAS TRUST, INC. director Michael B. Clement received an award of 14,238 Deferred Stock Units (DSUs) as compensation. Each DSU is tied to one share of common stock and was granted at a price of $0.00 per unit.

The DSUs were granted under the Adamas Trust, Inc. 2017 Equity Incentive Plan and will vest on the day immediately before the company’s next annual stockholders’ meeting in the following calendar year, provided he continues to provide services through that date. After this grant, he holds 14,238 DSUs directly.

Insider Trade Summary

Grant/Award: 14,238 shares

Grant/Award 1 txn

Insider Clement Michael B.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	14,238	$0.00	$0.00

Holdings After Transaction: Deferred Stock Units — 14,238 contracts (Direct)

Footnotes (1)

1. F1. Represents an award of deferred stock units ("DSUs") granted to the Reporting Person pursuant to the Adamas Trust, Inc. 2017 Equity Incentive Plan, as amended from time to time, that may be settled only for shares of common stock on a one-for-one basis. The DSUs will vest on the day immediately preceding the date of the Issuer's annual meeting of stockholders that occurs in the calendar year immediately following the calendar year in which the date of grant occurs, so long as the Reporting Person continuously provides services to the Issuer through such vesting date.

Key Figures

Deferred Stock Units granted: 14,238 units Grant price per DSU: $0.00 per unit Underlying common shares: 14,238 shares

3 metrics

Deferred Stock Units granted 14,238 units Award of DSUs to director on 2026-06-19

Grant price per DSU $0.00 per unit Equity compensation, non-cash award

Underlying common shares 14,238 shares Each DSU settles into one common share

Key Terms

Deferred Stock Units, 2017 Equity Incentive Plan, vest, annual meeting of stockholders

4 terms

Deferred Stock Units financial

"Represents an award of deferred stock units ("DSUs") granted to the Reporting Person"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

2017 Equity Incentive Plan financial

"granted to the Reporting Person pursuant to the Adamas Trust, Inc. 2017 Equity Incentive Plan"

vest financial

"The DSUs will vest on the day immediately preceding the date of the Issuer's annual meeting"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

annual meeting of stockholders financial

"preceding the date of the Issuer's annual meeting of stockholders that occurs in the calendar year"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ADAM director Michael B. Clement report on this Form 4?

Michael B. Clement reported receiving 14,238 Deferred Stock Units as a compensation award. These units were granted at $0.00 per unit and are tied one-for-one to ADAMAS TRUST, INC. common stock under the company’s 2017 Equity Incentive Plan.

How many Deferred Stock Units did Michael B. Clement receive from ADAM (symbol ADAM)?

He received 14,238 Deferred Stock Units in this transaction. After the grant, his total reported holdings of these DSUs are 14,238, reflecting this new award under the Adamas Trust, Inc. 2017 Equity Incentive Plan.

When do the ADAM Deferred Stock Units granted to Michael B. Clement vest?

The Deferred Stock Units vest the day immediately before ADAM’s annual stockholders’ meeting held in the following calendar year. Vesting requires that Michael B. Clement continuously provides services to ADAMAS TRUST, INC. through that vesting date.

What does each Deferred Stock Unit granted by ADAM represent for Michael B. Clement?

Each Deferred Stock Unit may be settled only for one share of ADAMAS TRUST, INC. common stock. The DSUs are a form of equity-based compensation granted under the 2017 Equity Incentive Plan, aligning the director’s interests with common stockholders.

Was there any cash paid for the ADAM Deferred Stock Unit grant to Michael B. Clement?

No cash changed hands for this award, as the grant price was $0.00 per Deferred Stock Unit. The transaction reflects a non-cash equity compensation grant rather than an open-market purchase or sale of ADAM common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/23/2026 - 11:35 AM Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Clement Michael B.

(Last) (First) (Middle)

C/O ADAMAS TRUST, INC.

90 PARK AVENUE

(Street)

NEW YORK NEW YORK 10016

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ADAMAS TRUST, INC. [ ADAM ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/19/2026

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

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

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

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
Deferred Stock Units	$0(1)	06/19/2026		A		14,238		(1)	(1)	Common Stock, par value $0.01 per share	14,238	$0	14,238	D

Explanation of Responses:

1. Represents an award of deferred stock units ("DSUs") granted to the Reporting Person pursuant to the Adamas Trust, Inc. 2017 Equity Incentive Plan, as amended from time to time, that may be settled only for shares of common stock on a one-for-one basis. The DSUs will vest on the day immediately preceding the date of the Issuer's annual meeting of stockholders that occurs in the calendar year immediately following the calendar year in which the date of grant occurs, so long as the Reporting Person continuously provides services to the Issuer through such vesting date.

Remarks:

	/s/ Kristine R. Nario-Eng, as attorney-in-fact	06/23/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)