[Form 3] CHERRY HILL MORTGAGE INVESTMENT CORPORATION Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Cherry Hill Mortgage Investment Corp. (CHMI) – Form 3 insider filing

On 06/22/2025 newly reported insider Apeksha Patel, who serves as Chief Financial Officer, submitted an initial statement of beneficial ownership to the SEC. The filing details her current equity stake in the company:

• Common stock (direct): 6,907 shares
• Restricted Stock Units (RSUs): 22,333 units, vesting in two tranches – 11,000 on 05/30/2026 and 11,333 on 05/30/2027
• LTIP Units: 31,532 partnership units in Cherry Hill Operating Partnership, L.P.; they vest ratably over three years from grant and can be exchanged one-for-one for common shares once parity conditions are met

The RSUs and LTIP units represent potential future ownership of up to an additional 53,865 common shares, aligning the CFO’s incentives with shareholder value. No purchases, sales or option exercises were reported; this is a routine initial disclosure required under Section 16(a).

Positive

• Management alignment: CFO holds 60k-share economic interest, signaling incentive alignment with shareholders

Negative

• None.

Insights

Financial Analyst

TL;DR – Routine Form 3; CFO discloses 60k-share economic stake, no transaction impact.

This Form 3 is an administrative filing establishing Apeksha Patel’s starting ownership as she begins her tenure as CFO. The stake—6,907 direct shares plus 53,865 in equity awards—signals management alignment but does not involve open-market activity or new compensation grants. The derivative awards were previously issued and follow standard vesting schedules. There is no immediate earnings, cash-flow or balance-sheet effect, and dilution is immaterial given CHMI’s ~25 million outstanding shares. As such, the disclosure is informational and neutral from a valuation or liquidity standpoint.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
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1. Name and Address of Reporting Person^*

Patel Apeksha

(Last) (First) (Middle)

C/O CHERRY HILL MORTGAGE INVESTMENT CORP

4000 ROUTE 66, SUITE 310

(Street)

TINTON FALLS NJ 07753

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/22/2025

3. Issuer Name and Ticker or Trading Symbol
Cherry Hill Mortgage Investment Corp [ CHMI ]

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

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

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

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $0.01 par value	6,907	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	(1)	Common Stock	22,333	(1)	D
LTIP Units	(2)	(2)	Common Stock	31,532(3)	(2)	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of common stock. Includes (a) 11,000 RSUs that will vest on May 30, 2026 and (b) 11,333 RSUs that will vest on May 30, 2027.

2. Represents units of limited partnership interests ("LTIP Units") in Cherry Hill Operating Partnership, L.P. (the "Operating Partnership") of which the Issuer is the general partner. Vested LTIP Units, upon achieving parity with the common units of limited partnership interest in the Operating Partnership pursuant to the terms of the partnership agreement, may be exchanged at any time for cash (as described in the partnership agreement) or, at the election of the Issuer, for shares of common stock on a one-for-one basis. The LTIP Units will vest and become nonforfeitable ratably over the three-year period beginning on the date of grant, subject to the reporting person's continued service to the Issuer or its affiliate and have no expiration date.

3. Includes (a) 22,732 vested LTIP Units, (b) 2,300 LTIP Units that will vest on January 10, 2026, (c) 3,250 LTIP Units that will vest on January 16, 2026 and (d) 3,250 LTIP Units that will vest on January 16, 2027.

	/s/ Apeksha Patel	06/23/2025
	** 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 5 (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.

FAQ

How many CHMI common shares does CFO Apeksha Patel currently own?

She directly owns 6,907 common shares.

What equity awards were disclosed in the Form 3 for CHMI?

The filing lists 22,333 RSUs and 31,532 LTIP units that could convert to common stock.

When will the RSUs reported by CHMI's CFO vest?

11,000 RSUs vest on May 30 2026 and 11,333 RSUs vest on May 30 2027.

Do the LTIP units disclosed have an expiration date?

No. The LTIP units vest over three years and can be exchanged for shares once parity is achieved; they have no stated expiration.

Is the Form 3 filing by CHMI's CFO considered material to investors?

It is largely routine; it records initial ownership and involves no purchase or sale transactions.