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

Rhea-AI Filing Summary

Deborah L. Harmon, a director of Starwood Property Trust, Inc. (STWD), was granted 7,744 restricted shares on 09/30/2025. Following the grant, Ms. Harmon beneficially owns 21,872 shares in total. The restricted shares were awarded under the Starwood Property Trust, Inc. 2022 Equity Plan and are scheduled to vest on 09/30/2026. The Form 4 was signed on behalf of Ms. Harmon by her attorney-in-fact and filed with the SEC on 10/02/2025. The report indicates a standard equity grant to a director with a one-year vesting schedule.

Positive

• 7,744 restricted shares granted to a director, indicating executive alignment with shareholders
• Restricted shares vest on 09/30/2026, creating a retention incentive
• Grant made under the 2022 Equity Plan, reflecting standard corporate governance practice

Negative

• None.

Insights

Corporate Insider

Director received restricted award aligning interests with shareholders.

The Form 4 shows a grant of 7,744 restricted common shares to Deborah L. Harmon on 09/30/2025, awarded under the 2022 Equity Plan. These shares vest on 09/30/2026, creating a time-based retention mechanism.

This is a routine compensation event that increases Ms. Harmon’s beneficial ownership to 21,872 shares and ties a portion of her compensation to future stock performance through delayed vesting.

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).

1. Name and Address of Reporting Person^*

HARMON DEBORAH L

(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)
09/30/2025

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	09/30/2025		A		7,744(1)	A	(2)	21,872	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. Represents restricted shares of the issuer's common stock vesting on September 30, 2026.

2. The issuer granted these shares to Ms. Harmon pursuant to the Starwood Property Trust, Inc. 2022 Equity Plan.

	/s/ Rina Paniry, her attorney-in-fact	10/02/2025
	** 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).
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.

FAQ

What transaction did Deborah L. Harmon report on the Form 4 for STWD?

The Form 4 reports a grant of 7,744 restricted common shares to Deborah L. Harmon on 09/30/2025.

How many STWD shares does Deborah L. Harmon beneficially own after the reported transaction?

After the reported transaction, Ms. Harmon beneficially owns 21,872 shares.

Under which plan were the shares granted to the director?

The shares were granted under the Starwood Property Trust, Inc. 2022 Equity Plan.

When do the restricted shares granted to Ms. Harmon vest?

The restricted shares are scheduled to vest on 09/30/2026.

When was the Form 4 filed with the SEC?

The Form 4 was signed by the reporting person's attorney-in-fact and filed on 10/02/2025.