STWD Form 4: Zelnick Strauss Receives 7,744 Restricted Shares

Rhea-AI Filing Summary

Starwood Property Trust, Inc. (STWD) director Zelnick Strauss received 7,744 restricted shares under the company's 2022 Equity Plan on 09/30/2025; those shares vest on 09/30/2026. After the reported grant, Mr. Zelnick is shown as beneficially owning 85,029 shares in total. The filing also discloses 2,600 shares held indirectly by his spouse and 11,800 held indirectly by family trusts. The transaction was reported on the Form 4 filed and signed by an attorney-in-fact on 10/02/2025. The document reflects a routine equity grant to an insider under the company plan with a one-year vesting timetable.

Positive

• 7,744 restricted shares granted to a director under the 2022 Equity Plan
• Insider grant vests on 09/30/2026, providing clear vesting timetable
• Reporting shows total beneficial ownership of 85,029 shares, increasing transparency

Negative

• None.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider ZELNICK STRAUSS

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	7,744	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 85,029 shares (Direct); Common Stock — 2,600 shares (Indirect, By spouse)

Footnotes (1)

1. Represents restricted shares of the issuer's common stock vesting on September 30, 2026. The issuer granted these shares to Mr. Zelnick pursuant to the Starwood Property Trust, Inc. 2022 Equity Plan.

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

ZELNICK STRAUSS

(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)	85,029	D
Common Stock								2,600	I	By spouse
Common Stock								11,800	I	By family trusts

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 Mr. Zelnick pursuant to the Starwood Property Trust, Inc. 2022 Equity Plan.

	/s/ Rina Paniry, his 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 STWD insider Zelnick Strauss report on Form 4?

The filing reports a grant of 7,744 restricted shares to director Zelnick Strauss on 09/30/2025 under the 2022 Equity Plan.

When do the restricted shares granted to Zelnick Strauss vest?

The restricted shares vest on 09/30/2026 as stated in the Form 4 explanation.

How many STWD shares does Zelnick Strauss beneficially own after the reported transaction?

Following the transaction, the Form 4 reports total beneficial ownership of 85,029 shares.

Does the Form 4 show any indirect holdings for Zelnick Strauss?

Yes. The filing discloses 2,600 shares held indirectly by his spouse and 11,800 held by family trusts.

Under which equity plan were the shares granted?

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