Cherry Hill CEO granted 170,455 RSUs

Lown Jeffrey B reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Lown Jeffrey B reported acquisition or exercise transactions in this Form 4 filing.

Cherry Hill Mortgage Investment Corp reported that President and CEO Jeffrey B. Lown received a grant of 170,455 restricted stock units (RSUs) on April 21, 2026. Each RSU represents one share of common stock and is a compensation award, not an open-market purchase.

The RSUs vest ratably over three years, with one-third vesting on April 21, 2027, one-third on April 21, 2028, and one-third on April 21, 2029 under the company’s 2023 Equity Incentive Plan. Dividend equivalent rights accrue on unvested RSUs and are paid in cash, securities, or other property when dividends are paid on the common stock.

Insider Trade Summary

Grant/Award: 170,455 shares

Grant/Award 1 txn

Insider Lown Jeffrey B

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	170,455	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 170,455 contracts (Direct)

Footnotes (2)

1. F1. Each granted restricted stock unit ("RSU") represents the right to receive one share of the Issuer's common stock. Vested RSUs are payable in the form of shares of the Issuer's common stock, delivered to the reporting person no later than sixty days after the date on which vesting occurs, subject to the collection of withholding taxes. Dividend equivalent rights accrue with respect to unvested RSUs in the form of cash, securities, or other property when and as dividends are paid on the Issuer's common stock, and are paid or distributed to the reporting person within thirty days of the date that the corresponding dividend payment or distribution is made to shareholders of the company, subject to the collection of withholding taxes.
2. F2. The Reporting Person was granted RSUs which vest ratable over a three-year period, with one-third vesting on April 21, 2027, one-third on April 21, 2028, and one-third on April 21, 2029, subject to the terms and conditions of the previously disclosed Cherry Hill Mortgage Investment Corporation 2023 Equity Incentive Plan (the "Plan") and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person.

Key Figures

RSUs granted: 170,455 units Underlying shares: 170,455 shares Exercise price: $0.0000 per unit +4 more

7 metrics

RSUs granted 170,455 units Grant to President and CEO on April 21, 2026

Underlying shares 170,455 shares Common stock underlying the granted RSUs

Exercise price $0.0000 per unit Reported price for the RSU grant (compensation award)

Vesting date 1 One-third of RSUs Vests on April 21, 2027

Vesting date 2 One-third of RSUs Vests on April 21, 2028

Vesting date 3 One-third of RSUs Vests on April 21, 2029

RSUs held after grant 170,455 units Total RSUs directly owned following this transaction

Key Terms

Restricted Stock Units, Dividend equivalent rights, Equity Incentive Plan, Restricted Stock Unit Agreement

4 terms

Restricted Stock Units financial

"Each granted restricted stock unit ("RSU") represents the right to receive one share of the Issuer's common stock."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Dividend equivalent rights financial

"Dividend equivalent rights accrue with respect to unvested RSUs in the form of cash, securities, or other property when and as dividends are paid."

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

Equity Incentive Plan financial

"subject to the terms and conditions of the previously disclosed Cherry Hill Mortgage Investment Corporation 2023 Equity Incentive Plan (the "Plan")."

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

Restricted Stock Unit Agreement financial

"and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person."

A restricted stock unit agreement is a written contract between a company and an individual that describes a promise to deliver company shares or cash later, subject to conditions such as time-based vesting or performance targets. Think of it like a timed gift: the recipient only receives the shares if they meet the agreed conditions. Investors care because these agreements create future share issuance, affect potential dilution, corporate expenses and incentives for insiders, and influence when insiders may sell shares.

FAQ

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

What did Cherry Hill Mortgage (CHMI) disclose about Jeffrey Lown in this Form 4?

Cherry Hill Mortgage reported that President and CEO Jeffrey B. Lown received a grant of 170,455 restricted stock units as equity compensation. Each RSU represents one share of common stock and increases his equity-based interest without involving any open-market stock purchase or sale.

How many RSUs did Cherry Hill Mortgage (CHMI) grant to its CEO?

The company granted Jeffrey B. Lown 170,455 restricted stock units. Each unit represents the right to receive one share of Cherry Hill Mortgage’s common stock, subject to vesting and tax withholding conditions detailed in the company’s 2023 Equity Incentive Plan and related RSU agreement.

What is the vesting schedule for the CEO’s RSUs at Cherry Hill Mortgage (CHMI)?

The 170,455 RSUs vest ratably over three years. One-third vests on April 21, 2027, another third on April 21, 2028, and the final third on April 21, 2029, all subject to the terms of the 2023 Equity Incentive Plan and RSU agreement.

Do the Cherry Hill Mortgage (CHMI) RSUs for the CEO receive dividends before vesting?

Yes. Dividend equivalent rights accrue on the unvested RSUs whenever dividends are paid on Cherry Hill Mortgage’s common stock. These equivalents may be paid in cash, securities, or other property, and are distributed within thirty days of the corresponding dividend payment date, subject to withholding taxes.

When will the Cherry Hill Mortgage (CHMI) CEO receive shares from the RSU grant?

Vested RSUs are settled in shares of Cherry Hill Mortgage common stock. Shares are delivered to Jeffrey B. Lown no later than sixty days after each vesting date, and this delivery is subject to the collection of applicable withholding taxes under the plan’s terms.

Is the Cherry Hill Mortgage (CHMI) CEO’s RSU grant an open-market stock purchase?

No. The transaction is a grant of 170,455 restricted stock units as compensation, not an open-market buy. The Form 4 identifies it with code “A” for a grant or award acquisition, and the price per unit is reported as $0.0000, reflecting its award nature.

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

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Accepted by SEC EDGAR 04/23/2026 - 04:05 PM 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^*

Lown Jeffrey B

(Last) (First) (Middle)

4000 ROUTE 66

SUITE 310

(Street)

TINTON FALLS NEW JERSEY 07753

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/21/2026

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
Restricted Stock Units	(1)	04/21/2026		A		170,455		(2)	(2)	Common Stock, par value $0.01 per share	170,455	$0	170,455	D

Explanation of Responses:

1. Each granted restricted stock unit ("RSU") represents the right to receive one share of the Issuer's common stock. Vested RSUs are payable in the form of shares of the Issuer's common stock, delivered to the reporting person no later than sixty days after the date on which vesting occurs, subject to the collection of withholding taxes. Dividend equivalent rights accrue with respect to unvested RSUs in the form of cash, securities, or other property when and as dividends are paid on the Issuer's common stock, and are paid or distributed to the reporting person within thirty days of the date that the corresponding dividend payment or distribution is made to shareholders of the company, subject to the collection of withholding taxes.

2. The Reporting Person was granted RSUs which vest ratable over a three-year period, with one-third vesting on April 21, 2027, one-third on April 21, 2028, and one-third on April 21, 2029, subject to the terms and conditions of the previously disclosed Cherry Hill Mortgage Investment Corporation 2023 Equity Incentive Plan (the "Plan") and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person.

	/s/ Jeffrey B. Lown II	04/22/2026
	** 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)