ADAMAS TRUST (NASDAQ: ADAM) director converts 18,678 deferred stock units to common shares

Rhea-AI Filing Summary

ADAMAS TRUST, INC. director Michael B. Clement exercised deferred stock units into common stock as part of his equity compensation. On June 10, 2026, he converted 18,678 deferred stock units into common shares at an exercise price of $0.00 per share.

Following this transaction, Clement directly holds 101,309 shares of common stock. The deferred stock units were originally granted on June 12, 2025 under the company’s 2017 Equity Incentive Plan and vested on June 10, 2026, the day before the 2026 annual stockholders meeting. This is a compensation-related exercise, not an open-market purchase or sale.

Insider Trade Summary

18,678 shares exercised/converted

Mixed 2 txns

Insider Clement Michael B.

Role null

Type	Security	Shares	Price	Value
Exercise	Deferred Stock Units	18,678	$0.00	--
Exercise	Common Stock, par value $0.01 per share	18,678	$0.00	--

Holdings After Transaction: Deferred Stock Units — 0 shares (Direct, null); Common Stock, par value $0.01 per share — 101,309 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares exercised: 18,678 shares Exercise price: $0.00 per share Shares held after: 101,309 shares +2 more

5 metrics

Shares exercised 18,678 shares Deferred stock units converted to common stock on June 10, 2026

Exercise price $0.00 per share Conversion of deferred stock units to common stock

Shares held after 101,309 shares Director’s direct common stock holdings following the transaction

DSU grant date June 12, 2025 Deferred stock units granted under 2017 Equity Incentive Plan

DSU vesting date June 10, 2026 Vested day before 2026 annual meeting of stockholders

Key Terms

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

4 terms

Deferred Stock Units financial

"Represents deferred stock units ("DSUs") granted on June 12, 2025 pursuant to the Adamas Trust, Inc. 2017 Equity Incentive Plan"

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

"pursuant to the Adamas Trust, Inc. 2017 Equity Incentive Plan, as amended from time to time"

vested financial

"The DSUs vested on June 10, 2026, the day preceding the date of the Issuer's 2026 annual meeting of stockholders."

annual meeting of stockholders financial

"the day preceding the date of the Issuer's 2026 annual meeting of stockholders."

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Form 4 Insider Transactions: What Each Field Means →

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 NEW YORK MORTGAGE 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)
06/10/2026

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
Common Stock, par value $0.01 per share	06/10/2026		M(1)		18,678	A(1)	(1)	101,309	D

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)	06/10/2026		M			18,678	(1)	(1)	Common Stock, par value $0.01 per share	18,678	$0	0	D

Explanation of Responses:

1. Represents deferred stock units ("DSUs") granted on June 12, 2025 pursuant to the Adamas Trust, Inc. 2017 Equity Incentive Plan, as amended from time to time (the "Plan"). The DSUs vested on June 10, 2026, the day preceding the date of the Issuer's 2026 annual meeting of stockholders.

Remarks:

	/s/ Kristine R. Nario-Eng, as attorney-in-fact	06/12/2026
	** 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)

FAQ

What insider transaction did ADAM (ADAMAS TRUST, INC.) report for Michael B. Clement?

ADAM reported that director Michael B. Clement exercised 18,678 deferred stock units into common stock. This derivative exercise converted previously granted equity compensation into shares, without an open-market purchase or sale, and increased his directly held common stock position.

How many ADAM shares does Michael B. Clement hold after this Form 4 transaction?

After the transaction, Michael B. Clement directly holds 101,309 shares of ADAM common stock. This reflects his updated ownership position following the conversion of 18,678 deferred stock units into common shares at an exercise price of $0.00 per share.

What type of securities did Michael B. Clement convert in the ADAM Form 4 filing?

He converted deferred stock units (DSUs) into ADAM common stock. DSUs are a form of equity compensation that track the value of the stock and, upon vesting or specified events, are settled in shares rather than cash, updating the insider’s holdings.

When were the ADAM deferred stock units granted and when did they vest?

The deferred stock units were granted on June 12, 2025 under ADAM’s 2017 Equity Incentive Plan. They vested on June 10, 2026, which is noted as the day preceding the company’s 2026 annual meeting of stockholders, triggering the related conversion.

Was the ADAM insider transaction an open-market buy or sell of shares?

No, the transaction was not an open-market buy or sell. It was a derivative exercise, converting deferred stock units into common stock at $0.00 per share as part of equity compensation, so no market trade occurred and no sale proceeds were reported.

What plan governed the deferred stock units in this ADAM Form 4?

The deferred stock units were granted under the Adamas Trust, Inc. 2017 Equity Incentive Plan, as amended from time to time. This plan provides for equity-based awards, including DSUs, to company participants such as directors, aligning compensation with shareholder interests.