Adamas Trust (NASDAQ: ADAM) CFO surrenders 751 shares for taxes

Rhea-AI Filing Summary

Adamas Trust, Inc. Chief Financial Officer Kristine R. Nario-Eng reported a routine share withholding related to equity compensation. On January 27, 2026, she surrendered 751 shares of common stock at $8.41 per share to cover tax liabilities from vesting restricted stock under the company’s 2017 Equity Incentive Plan.

After this tax-related surrender, she beneficially owns 156,546 shares of Adamas Trust common stock, held directly. The transaction is coded "F," indicating it was for payment of taxes rather than an open-market sale.

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

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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^*

Nario-Eng Kristine Rimando

(Last) (First) (Middle)

C/O ADAMAS TRUST, INC.

90 PARK AVENUE

(Street)

NEW YORK NY 10016

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ADAMAS TRUST, INC. [ ADAM ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/27/2026

4. 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 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
Common Stock, par value $0.01 per share	01/27/2026		F		751(1)	D	$8.41	156,546	D

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

Explanation of Responses:

1. Surrendered to satisfy tax liability incident to the vesting of shares of restricted stock issued pursuant to Adamas Trust, Inc.'s 2017 Equity Incentive Plan (as amended).

Remarks:

	/s/ Kristine R. Nario-Eng	01/28/2026
	** 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).
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FAQ

What did Adamas Trust (ADAM) disclose about its CFO in this Form 4?

Adamas Trust’s CFO reported a tax-related share surrender. Kristine R. Nario-Eng surrendered 751 shares of common stock on January 27, 2026, at $8.41 per share to cover tax liabilities from vesting restricted stock under the 2017 Equity Incentive Plan.

How many Adamas Trust (ADAM) shares does the CFO own after the reported transaction?

After the transaction, the CFO beneficially owns 156,546 shares. Following the surrender of 751 shares to satisfy tax obligations tied to restricted stock vesting, Kristine R. Nario-Eng holds 156,546 shares of Adamas Trust common stock directly.

Was the Adamas Trust (ADAM) CFO’s Form 4 transaction an open-market sale?

No, the transaction was not an open-market sale. It is coded "F," meaning 751 shares were surrendered to satisfy tax liability from the vesting of restricted stock granted under Adamas Trust, Inc.’s 2017 Equity Incentive Plan, rather than sold on the market.

What does transaction code "F" mean in the Adamas Trust (ADAM) Form 4 filing?

Code "F" indicates shares used to pay taxes. In this filing, 751 shares of Adamas Trust common stock were surrendered by the CFO to satisfy tax liability triggered by the vesting of restricted stock, instead of a discretionary sale for cash proceeds.

When did the Adamas Trust (ADAM) CFO’s tax-related share surrender occur?

The share surrender occurred on January 27, 2026. On that date, 751 shares of Adamas Trust common stock were surrendered at $8.41 per share to cover tax obligations associated with vesting restricted stock awards held by Chief Financial Officer Kristine R. Nario-Eng.

What role does Adamas Trust’s 2017 Equity Incentive Plan play in this Form 4?

The plan is the source of the vesting restricted stock. The CFO’s 751-share surrender was to pay taxes arising from restricted stock vesting under Adamas Trust, Inc.’s 2017 Equity Incentive Plan (as amended), which governs equity-based compensation awards to participants.