[Form 4] STARWOOD PROPERTY TRUST, INC. Insider Trading Activity

Rhea-AI Filing Summary

Jeffrey G. Dishner, a director of Starwood Property Trust, Inc. (STWD), was granted 230 shares of the issuer's common stock on 09/05/2025 through SPT Management, LLC, the company’s external manager. After the grant, Mr. Dishner directly beneficially owned 175,165 shares. He also is reported as having 609,132 shares held indirectly by the Jeffrey Dishner Revocable Trust, although he disclaims beneficial ownership of those trust-held shares except to the extent of his pecuniary interest.

The Form 4 was signed on 09/12/2025 and notes the 230-share grant was reported late due to an inadvertent administrative error. No derivative transactions are reported and no prices for the granted shares are provided in the filing.

Positive

• Insider equity alignment: A director received a grant, demonstrating management-level ownership in the issuer
• Disclosure of holdings: The Form 4 reports both direct and indirect holdings, providing transparency

Negative

• Late filing: The 230-share grant was reported late due to an administrative error
• Limited detail: Filing lacks price or compensation context for the grant, preventing valuation assessment

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant disclosed; late filing raises minor governance oversight concerns.

The filing documents a small, routine equity award of 230 common shares to a director via the external manager, increasing his direct holdings to 175,165 shares. The report explicitly states the late filing resulted from an inadvertent administrative error, which is a correctable disclosure control issue but not by itself evidence of material governance failure. The director's disclaimer concerning the 609,132 trust-held shares is standard language to limit legal beneficial ownership exposure; it does not change reported indirect holdings.

Securities Analyst

TL;DR: Small non-derivative grant with limited market impact; no material change to ownership profile.

The 230-share grant is immaterial relative to the director's total reported direct and indirect holdings and to typical public float sizes, so this transaction is unlikely to affect market valuation or control. The absence of price information suggests a non-cash grant or internal issuance; the filing does not provide purchase price or compensation context, so no further valuation conclusions can be drawn from this document alone.

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^*

Dishner Jeffrey G.

(Last) (First) (Middle)

C/O STARWOOD PROPERTY TRUST, INC.

2340 COLLINS AVENUE

(Street)

MIAMI BEACH FL 33139

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STARWOOD PROPERTY TRUST, INC. [ STWD ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		A		230(1)	A	(1)	175,165	D
Common Stock								609,132	I(2)	By Jeffrey Dishner Revocable Trust(2)

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. 230 shares of the issuer's common stock were granted to Mr. Dishner through SPT Management, LLC, the issuer's external manager. This transaction is being reported late due to an inadvertent administrative error.

2. Mr. Dishner disclaims beneficial ownership of these shares of the issuer's common stock except to the extent of his pecuniary interest therein, and the inclusion of these shares of the issuer's common stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the issuer's common stock for purposes of Section 16 or for any other purpose.

	/s/ Jeffrey G. Dishner	09/12/2025
	** 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 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 transaction did Jeffrey G. Dishner report on the Form 4 for STWD?

The Form 4 reports a grant of 230 shares of Starwood Property Trust common stock to Jeffrey G. Dishner on 09/05/2025.

How many STWD shares does Jeffrey G. Dishner beneficially own after the reported transaction?

The filing shows 175,165 shares beneficially owned directly after the transaction and 609,132 shares held indirectly by the Jeffrey Dishner Revocable Trust.

Was the Form 4 filed on time?

No. The filing states the 230-share grant was reported late due to an inadvertent administrative error.

Are there any derivative transactions reported by Mr. Dishner in this Form 4?

No. The Form 4 contains no reported derivative securities transactions.

Does Mr. Dishner claim beneficial ownership of the trust-held shares?

He disclaims beneficial ownership of the 609,132 shares held by the Jeffrey Dishner Revocable Trust except to the extent of his pecuniary interest.