Adamas Trust (ADAM) director receives 14,238 deferred stock units grant

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Pendergast Lisa A reported acquisition or exercise transactions in this Form 4 filing.

ADAMAS TRUST, INC. director Lisa A. Pendergast received a grant of 14,238 Deferred Stock Units (DSUs) under the company’s 2017 Equity Incentive Plan. Each DSU is payable in one share of common stock.

The DSUs vest on the day immediately before the company’s next annual stockholder meeting in the following calendar year, provided she continues serving the company through that date. After this award, she holds 51,378 DSUs. Settlement of the vested DSUs has been deferred until a Change in Control as defined in the plan.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Pendergast Lisa A

Role null

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

Holdings After Transaction: Deferred Stock Units — 51,378 shares (Direct, null)

Footnotes (1)

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Key Figures

Deferred Stock Units granted: 14,238 units Total DSUs after grant: 51,378 units Grant price per unit: $0.00 +2 more

5 metrics

Deferred Stock Units granted 14,238 units Award on 2026-06-19 under 2017 Equity Incentive Plan

Total DSUs after grant 51,378 units Holdings following this Form 4 transaction

Grant price per unit $0.00 Deferred Stock Units awarded as director compensation

Conversion ratio 1 unit : 1 share Each DSU may be settled for one common share

Vesting trigger Pre-annual meeting date Vests day before next annual meeting in following calendar year

Key Terms

Deferred Stock Units, 2017 Equity Incentive Plan, Change in Control, 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"

Change in Control financial

"settlement of the vested DSUs has been deferred until the date of a Change in Control"

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

annual meeting of stockholders regulatory

"vest on the day immediately preceding the date of the Issuer's annual meeting of stockholders"

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Form 4 Insider Transactions: What Each Field Means →

06/23/2026 - 11:35 AM

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^*

Pendergast Lisa A

(Last)

(First)

(Middle)

C/O ADAMAS TRUST, INC.

90 PARK AVENUE

(Street)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Stock Units	$0⁽¹⁾	06/19/2026		A		14,238		⁽¹⁾	⁽¹⁾	Common Stock, par value $0.01 per share	14,238	$0	51,378	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 (the "Plan"), 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. Pursuant to the Reporting Person's election under the award agreement, settlement of the vested DSUs has been deferred until the date of a Change in Control (as defined in the Plan).

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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did ADAMAS TRUST (ADAM) report for Lisa A. Pendergast?

ADAMAS TRUST reported that director Lisa A. Pendergast received an award of 14,238 Deferred Stock Units as compensation. These units were granted under the company’s 2017 Equity Incentive Plan and are settled in common stock on a one-for-one basis when distributed.

How many Deferred Stock Units did the ADAMAS TRUST (ADAM) director receive?

Lisa A. Pendergast received 14,238 Deferred Stock Units in this Form 4 filing. Following this grant, her total Deferred Stock Unit holdings increased to 51,378 units, all of which may ultimately be settled in shares of common stock on a one-for-one basis.

What are the vesting terms of the ADAMAS TRUST (ADAM) Deferred Stock Units?

The Deferred Stock Units vest the day immediately before the company’s annual stockholder meeting held in the calendar year after the grant year. Vesting requires that Lisa A. Pendergast continuously provide services to ADAMAS TRUST through that vesting date, according to the plan terms.

When will the ADAMAS TRUST (ADAM) Deferred Stock Units be settled into shares?

Settlement of the vested Deferred Stock Units has been deferred until the date of a Change in Control, as defined in the company’s 2017 Equity Incentive Plan. At that time, each vested unit is settled for one share of ADAMAS TRUST common stock.

Does the ADAMAS TRUST (ADAM) Form 4 indicate any open-market buying or selling?

The Form 4 reflects a grant of Deferred Stock Units to director Lisa A. Pendergast, not an open-market trade. The units were awarded at a stated price of $0.00 per unit as part of compensation under the company’s equity incentive plan.