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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.
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.
Cheng Gena reported acquisition or exercise transactions in this Form 4 filing.
Adamas Trust, Inc. reported that director Gena Cheng received a grant of 14,238 Deferred Stock Units (DSUs) as compensation. Each DSU may be settled on a one-for-one basis in common stock. After this award, Cheng holds 51,378 DSUs directly.
The DSUs will vest on the day immediately before the company’s next annual stockholders’ meeting in the following calendar year, provided Cheng continues to serve the company through that date. Settlement of the vested DSUs has been deferred until the date of a Change in Control as defined in the company’s 2017 Equity Incentive Plan.
Mumma Steven R reported acquisition or exercise transactions in this Form 4 filing.
Adamas Trust, Inc. director Steven R. Mumma received an award of 14,238 Deferred Stock Units (DSUs) as compensation. The DSUs were granted at no cash cost under the company’s 2017 Equity Incentive Plan and are each linked to one share of common stock.
The DSUs will vest on the day immediately before the company’s next annual stockholder meeting in the following calendar year, provided he continues to serve the company through that date. Settlement of the vested DSUs has been deferred until a Change in Control, and following this grant he holds 51,378 DSUs in total.
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.
Adamas Trust, Inc. entered into an equity distribution agreement establishing an at-the-market common stock offering program of up to $250,000,000 in aggregate. The company may sell shares from time to time through JonesTrading, BTIG, and B. Riley Securities as sales agents, or directly to an agent acting as principal.
The agents may receive up to 2.0% of gross proceeds as compensation. Adamas Trust plans to use any net proceeds for general corporate purposes, including acquiring targeted mortgage-, residential housing- and credit-related assets and for working capital. The shares will be issued under its existing Form S-3 shelf registration, supported by a new prospectus supplement dated June 12, 2026.
Adamas Trust, Inc. filed a prospectus supplement establishing an at-the-market equity offering to sell up to $250,000,000 of its common stock under an equity distribution agreement with JonesTrading Institutional Services LLC, BTIG, LLC and B. Riley Securities, Inc. dated June 12, 2026. Sales may occur on Nasdaq or otherwise as an at-the-market program, at prevailing market or negotiated prices, and Agents may purchase shares as principals under separate agreements. Agents may earn up to 2.0% of gross proceeds as compensation. The company states net proceeds will be used for general corporate purposes, including acquiring mortgage-, residential housing- and credit-related assets and working capital. The prospectus supplement notes ownership transfer limits (generally 9.9%) designed to preserve REIT qualification and discloses a last reported sale price of $9.11 per share on Nasdaq on June 11, 2026.
Adamas Trust, Inc. reported 2026 annual meeting results, compensation changes and new dividends. Stockholders approved a Third Amendment to the 2017 Equity Incentive Plan, adding 9,000,000 common shares for awards, raising the annual non-employee director compensation cap to $750,000 and extending the plan to April 23, 2036.
The Board adopted a nonqualified Deferred Compensation Plan and a 2024 PSU deferral election form for executives and directors. All seven director nominees were elected, say-on-pay passed, and Grant Thornton LLP was ratified as auditor. The Board declared a $0.27 per-share common dividend payable July 28, 2026 and quarterly dividends on Series D, E, F and G preferred stock for the period from April 15, 2026 to July 14, 2026.
Adamas Trust, Inc. reported stronger results for the quarter ended March 31, 2026. Total assets were $12.79 billion, up from $12.64 billion, with investment securities of $6.96 billion and residential loans of $4.50 billion at fair value.
Net income attributable to common stockholders rose to $36.9 million from $30.3 million, with basic EPS increasing to $0.41 from $0.33. Net interest income improved to $48.4 million from $33.1 million, while derivative gains and mortgage banking activities contributed to total other income of $80.9 million.
The company recorded unrealized losses on securities and loans but benefited from a sizable gain of about $52.3 million on a multifamily property sale. Operating cash flow was a use of $16.7 million, offset by net financing cash inflows of $106.7 million, including new securitizations and note issuance.
Adamas Trust, Inc. reported strong results for the quarter ended March 31, 2026, driven by portfolio growth and wider earnings coverage of its dividend. GAAP basic earnings per share were $0.41, while earnings available for distribution (EAD) per common share were $0.29, up 45% year-over-year and 26% quarter-over-quarter, comfortably above the $0.23 common dividend.
Book value per share rose to $9.98, a 4.0% increase quarter-over-quarter, and adjusted book value per share reached $10.80, up 1.6%. Quarterly economic return was 6.35%, and economic return on adjusted book value was 3.76%. Total net interest income was $48.4 million, up 12.1% quarter-over-quarter, with adjusted net interest income of $48.2 million, up 3.9%.
The investment portfolio totaled about $10.9 billion, including $6.8 billion in Agency investments and a growing business purpose loan book, such as a $1.8 billion BPL-Rental portfolio. During the quarter, the company acquired $1.0 billion of new single-family investments, issued $90.0 million of 9.250% senior notes due 2031, redeemed $100.0 million of 5.75% notes due 2026, and completed a $310.4 million BPL-Rental securitization at a 4.88% effective cost.
Subsequent to quarter end, Adamas closed an additional $261.5 million BPL-Rental securitization at a 5.54% effective cost. The Company Recourse Leverage Ratio was 5.2x and the Portfolio Recourse Leverage Ratio was 4.9x. Adamas also repurchased 612,464 common shares at an average price of $8.17, and reported a cumulative stockholder return of 4.06% for the quarter and 28.58% over the last twelve months.