Granite Point Mortgage Trust (NYSE: GPMT) grants 73,294 RSUs to general counsel
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Karber Michael J. reported acquisition or exercise transactions in this Form 4 filing.
Granite Point Mortgage Trust Inc. reported that General Counsel and Secretary Michael J. Karber received a grant of 73,294 restricted stock units (RSUs) tied to the company’s common stock. These RSUs were awarded as compensation under the Amended and Restated 2022 Omnibus Incentive Plan, not through open‑market trading.
Each RSU represents a contingent right to receive one share of GPMT common stock. The award vests over three years, with 33% vesting on March 5, 2027, 33% on March 5, 2028, and the remaining 34% on March 5, 2029, subject to the terms and conditions of the award agreement.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Karber Michael J.
Role
General Counsel and Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 73,294 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 73,294 shares (Direct)
Footnotes (1)
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Key Figures
RSUs granted: 73,294 units
RSU grant price: $0.00 per unit
Total RSUs after grant: 73,294 units
+4 more
7 metrics
RSUs granted
73,294 units
Restricted stock unit award to Michael J. Karber
RSU grant price
$0.00 per unit
Compensation award under 2022 Omnibus Incentive Plan
Total RSUs after grant
73,294 units
Holdings following the reported RSU award
First vesting tranche
33% on March 5, 2027
Initial RSU vesting date and percentage
Second vesting tranche
33% on March 5, 2028
Second RSU vesting date and percentage
Final vesting tranche
34% on March 5, 2029
Final RSU vesting date and percentage
RSU expiration date
March 5, 2029
Expiration of restricted stock unit award
Key Terms
Restricted Stock Units, Amended and Restated 2022 Omnibus Incentive Plan, vesting, contingent rights
4 terms
Restricted Stock Units financial
"Represents a restricted stock unit award issued under Granite Point Mortgage Trust Inc.'s Amended and Restated 2022 Omnibus Incentive Plan."
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.
Amended and Restated 2022 Omnibus Incentive Plan financial
"award issued under Granite Point Mortgage Trust Inc.'s Amended and Restated 2022 Omnibus Incentive Plan."
vesting financial
"This award vests 33% on each of March 5, 2027, and March 5, 2028, and 34% on March 5, 2029, subject to the terms and conditions contained in the award agreement."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
contingent rights financial
"Restricted stock units are contingent rights to receive a share of GPMT common stock on a 1-to-1 basis."
FAQ
What insider transaction did GPMT report for Michael J. Karber?
Granite Point Mortgage Trust Inc. reported that Michael J. Karber received a grant of 73,294 restricted stock units. These RSUs are compensation-based awards, not open-market purchases or sales, and each unit represents a contingent right to one share of GPMT common stock.
How many restricted stock units did GPMT grant to Michael J. Karber?
Granite Point Mortgage Trust Inc. granted 73,294 restricted stock units to Michael J. Karber. The award was issued under the company’s Amended and Restated 2022 Omnibus Incentive Plan and represents potential future shares of GPMT common stock, subject to vesting conditions over time.
What is the vesting schedule for Michael J. Karber’s GPMT RSU award?
Karber’s 73,294 RSUs vest in three tranches: 33% on March 5, 2027, another 33% on March 5, 2028, and 34% on March 5, 2029. Vesting is subject to the terms and conditions specified in the individual award agreement.
Are Michael J. Karber’s RSUs from GPMT an open-market stock purchase?
No, the 73,294 restricted stock units granted to Michael J. Karber are a compensation award, not an open-market purchase. They were issued at a stated price of $0.00 per unit under GPMT’s Amended and Restated 2022 Omnibus Incentive Plan.
What does each GPMT restricted stock unit granted to Michael J. Karber represent?
Each restricted stock unit granted to Michael J. Karber represents a contingent right to receive one share of Granite Point Mortgage Trust Inc. common stock. Delivery of shares occurs upon vesting, assuming the terms and conditions of the award agreement are satisfied.
When do Michael J. Karber’s GPMT RSUs expire if unvested or unsettled?
The restricted stock unit award to Michael J. Karber carries an expiration date of March 5, 2029. This date aligns with the final 34% vesting tranche, as disclosed, and reflects the outside term associated with the RSU award under the company’s incentive plan.