Granite Point completes 1-for-10 reverse stock split
Common stockholders' percentage ownership was unchanged except for de minimis changes resulting from the elimination of fractional shares.
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Rhea-AI Filing Summary
Granite Point Mortgage Trust Inc. (GPMT) completed a 1-for-10 reverse split of its common stock, effective at 5:00 p.m. Eastern Time on October 5, 2026. Common shares issued and outstanding decreased from 48,198,166 to approximately 4,819,100 as of the effective time. Split-adjusted trading on the NYSE began October 6 under the existing GPMT symbol.
The previously announced dividend remains payable October 15 to stockholders of record October 1, at $0.01 per pre-split share. Fractional shares are settled in cash based on the October 5 closing price. Stockholder accounts were adjusted automatically, and the split did not affect the outstanding Series A preferred stock or its terms.
Filing Explained
The filing clarifies the ownership effect: common holders’ percentage stakes remained unchanged despite the lower share count, except for de minimis changes when fractional shares were paid out in cash; the split therefore did not dilute holders proportionally.
8-K Event Classification
Key Figures
Key Terms
Reverse Stock Split financial
split-adjusted basis technical
Stock Split
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported):
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class: | Trading Symbol(s) | Name of each exchange on which registered: | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 3.03 Material Modification to Rights of Security Holders.
To the extent required by Item 3.03 of Form 8-K, the information contained in Item 5.03 of this Current Report on Form 8-K is incorporated herein by reference.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
Completion of 1-for-10 Reverse Stock Split
On October 5, 2026, Granite Point Mortgage Trust Inc. (the “Company”) completed the previously announced reverse stock split of shares of the Company’s common stock (the “Common Stock”) at a ratio of one share for every ten shares outstanding (the “Reverse Stock Split”). The Reverse Stock Split took effect at 5:00 p.m. Eastern Time on October 5, 2026 (the “Effective Time”) and automatically converted every ten shares of Common Stock outstanding at that time into one share of Common Stock.
The Reverse Stock Split affected all holders of Common Stock uniformly and did not affect any common stockholder’s percentage ownership interest in the Company, except for de minimis changes resulting from the elimination of fractional shares, as described below under “Charter Amendments.” Holders of Common Stock were not required to take any action related to the Reverse Stock Split. Their accounts were automatically adjusted to reflect the number of shares owned.
As a net result of the Reverse Stock Split, the number of shares of Common Stock issued and outstanding decreased from 48,198,166 shares to approximately 4,819,100 shares as of the Effective Time.
At the Effective Time, the aggregate number of shares of Common Stock available for awards under the Company’s Amended and Restated 2022 Omnibus Incentive Plan (the “Incentive Plan”) and the terms of outstanding awards that had been issued under the Incentive Plan were ratably adjusted to reflect the Reverse Stock Split.
The Reverse Stock Split will not affect payment of the previously announced Common Stock dividend. The dividend will remain payable on October 15, 2026, to stockholders of record at the close of business on October 1, 2026, based on their pre-split holdings of Common Stock, at the previously announced rate of $0.01 per pre-split share.
The Reverse Stock Split applies only to the Common Stock and did not affect the outstanding shares or terms of the Company’s 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.
Charter Amendments
In connection with and to implement the Reverse Stock Split, on October 2, 2026, the Company filed two Articles of Amendment to its charter with the State Department of Assessments and Taxation of Maryland that provided for:
| i. | a 1-for-10 Reverse Stock Split of the Common Stock, effective at 5:00 p.m. Eastern Time on October 5, 2026, payment of fractional shares in cash, and a corresponding and statutorily required increase in the par value per share of Common Stock from $0.01 per share to $0.10 per share (the “First Amendment”); and |
| ii. | the restoration of the par value per share of the Common Stock to $0.01 per share, effective immediately following the effectiveness of the First Amendment (the “Second Amendment”). |
Trading of the Common Stock on the New York Stock Exchange commenced on a Reverse Stock Split-adjusted basis on October 6, 2026, under the existing trading symbol “GPMT.” The new CUSIP number for the Common Stock following the Reverse Stock Split is 38741L 404.
Pursuant to the First Amendment, any fractional share of Common Stock that would otherwise have resulted from the Reverse Stock Split will be settled by cash payment, calculated on the basis of the closing price of the Common Stock on October 5, 2026.
The foregoing descriptions of the First Amendment and the Second Amendment do not purport to be complete and are qualified in their entirety by reference to each amendment, copies of which are filed as Exhibit 3.1 and Exhibit 3.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description | |
| 3.1 | First Amendment (Articles of Amendment effecting reverse stock split) | |
| 3.2 | Second Amendment (Articles of Amendment adjusting par value) | |
| 99.1 | Press Release dated October 6, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GRANITE POINT MORTGAGE TRUST INC. | ||
| By: | /s/ MICHAEL J. KARBER | |
| Michael J. Karber | ||
| General Counsel and Secretary | ||
| Date: October 6, 2026 | ||
Exhibit 99.1
Granite Point Mortgage Trust Inc. Announces Completion of Reverse Stock Split
NEW YORK, October 6, 2026 – Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced the completion of its previously announced one-for-ten reverse stock split of the outstanding shares of the company’s common stock (the “Reverse Stock Split”). The Reverse Stock Split, which was effective at 5:00 p.m. Eastern Time on October 5, 2026, reduced the number of outstanding shares of the company’s common stock from approximately 48.2 million shares to approximately 4.8 million shares. The par value of each share of common stock will remain unchanged. The Company’s common stock will continue trading on the NYSE under the symbol “GPMT” and is assigned CUSIP number: 38741L 404.
The Reverse Stock Split is intended to be tax-free for U.S. federal income tax purposes. U.S. common stockholders generally should not recognize a gain or loss from the reverse stock split, except in those instances where cash payments were provided in lieu of fractional shares, which may be taxable. GPMT’s common stockholders are encouraged to consult their financial advisors and tax advisors regarding the consequences of the Reverse Stock Split, including the applicability and effect of any U.S. federal, state, local or foreign tax laws.
About Granite Point Mortgage Trust Inc.
Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite Point is headquartered in New York, NY. Additional information is available at www.gpmtreit.com.
Forward-Looking Statements
This press release contains, or incorporates by reference, not only historical information, but also forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as “anticipate,” “estimate,” “will,” “should,” “expect,” “target,” “believe,” “outlook,” “potential,” “continue,” “intend,” “seek,” “plan,” “goals,” “future,” “likely,” “may” and similar expressions or their negative forms, or by references to strategy, plans or intentions. The illustrative examples herein are forward-looking statements. Our expectations, beliefs and estimates are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and estimates will prove to be correct or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.
These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in our Annual Report on Form 10-K for the year ended December 31, 2025, under the caption “Risk Factors,” and our subsequent filings made with the SEC. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
Additional Information
Stockholders of Granite Point and other interested persons may find additional information regarding the Company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Granite Point Mortgage Trust Inc., 1114 Avenue of the Americas, Suite 3020, New York, NY 10036, telephone (212) 364-5500.
Investors: Chris Petta, Head of Investor Relations, Granite Point Mortgage Trust Inc., (212) 364-5500, investors@gpmtreit.com.