TPG RE Finance (NYSE: TRTX) director credited 1,109 dividend-equivalent shares

Rhea-AI Filing Summary

Gillmore Michael reported acquisition or exercise transactions in this Form 4 filing.

TPG RE Finance Trust, Inc. director Michael Gillmore was credited on July 24, 2026 with 1,109 shares of common stock underlying deferred stock units issued in lieu of cash dividends on DSUs he already holds. Following this award he directly owns 98,699 shares, plus 500 shares held indirectly through a personal trust.

Insider Trade Summary

Net Buyer: 1,109 shares

Net Buy 2 txns

Insider Gillmore Michael

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	1,109	$8.46	$9K
holding	Common Stock F2	--	--	--

Holdings After Transaction: Common Stock — 98,699 shares (Direct); Common Stock — 500 shares (Indirect, See Explanation of Responses)

Footnotes (2)

1. F1. Represents shares of common stock ("Common Stock") of TPG RE Finance Trust, Inc. (the "Issuer") underlying deferred stock units ("DSUs") issued to Mr. Michael Gillmore in lieu of dividends payable on DSUs owned by Mr. Gillmore. The number of DSUs was calculated by dividing (i) the product of the number of DSUs owned by Mr. Gillmore that provide for the issuance of DSUs in lieu of cash dividends and the $0.24 per share dollar amount of the Common Stock dividend paid by the Issuer on July 24, 2026 by (ii) the closing price of the Issuer's Common Stock as of the record date for the Common Stock dividend paid by the Issuer on July 24, 2026.
2. F2. Held through a personal trust.

Key Figures

Shares acquired: 1,109 shares Transaction price per share: $8.46 Direct holdings after transaction: 98,699 shares +2 more

5 metrics

Shares acquired 1,109 shares Common stock underlying DSUs credited on July 24, 2026

Transaction price per share $8.46 Price per share for the 1,109-share Common Stock award

Direct holdings after transaction 98,699 shares Direct ownership of TRTX common stock following the July 24, 2026 award

Indirect holdings after transaction 500 shares Common stock held indirectly through a personal trust

Cash dividend per share on DSUs $0.24 per share Dividend on Common Stock paid on July 24, 2026 used to calculate new DSUs

Key Terms

deferred stock units, in lieu of dividends, personal trust, closing price

4 terms

deferred stock units financial

"Represents shares of common stock underlying deferred stock units ("DSUs") issued to Mr. Michael Gillmore"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

in lieu of dividends financial

"DSUs issued to Mr. Michael Gillmore in lieu of dividends payable on DSUs owned by Mr. Gillmore"

personal trust financial

"500.0000 ... Held through a personal trust."

closing price financial

"dividing ... by (ii) the closing price of the Issuer's Common Stock as of the record date"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/28/2026 - 04:10 PM Accepted by SEC EDGAR 07/28/2026 - 04:10 PM Learn about SEC filing dates

FAQ

What insider transaction did TRTX director Michael Gillmore report?

Michael Gillmore reported an acquisition of 1,109 shares of TPG RE Finance Trust common stock on July 24, 2026, credited as shares underlying deferred stock units issued instead of cash dividends on DSUs he already owns.

How were the 1,109 TRTX shares for Michael Gillmore calculated?

The 1,109 shares represent common stock underlying deferred stock units, calculated using a $0.24 per share dividend on DSUs he holds, divided by the common stock’s closing price on the dividend’s record date.

What are Michael Gillmore’s total TRTX share holdings after this transaction?

After the July 24, 2026 award, Michael Gillmore holds 98,699 shares of TPG RE Finance Trust common stock directly and 500 shares indirectly, with the indirect shares held through a personal trust.

Was the TRTX insider transaction a market purchase or a grant?

The TRTX insider transaction was a grant/award acquisition, coded “A”, reflecting shares underlying deferred stock units issued as dividend equivalents, not a market purchase on an exchange.

How are dividends on TRTX deferred stock units handled for Michael Gillmore?

Dividends on Michael Gillmore’s TRTX deferred stock units are paid in additional DSUs instead of cash. For the July 24, 2026 $0.24 per share dividend, this created DSUs representing 1,109 shares of common stock.

How many TRTX shares does Michael Gillmore hold indirectly and how?

Michael Gillmore is reported as indirectly owning 500 shares of TPG RE Finance Trust common stock, which are held through a personal trust, as described in the ownership footnote.

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).

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^*

Gillmore Michael

(Last) (First) (Middle)

C/O TPG RE FINANCE TRUST, INC.

888 SEVENTH AVENUE, 35TH FLOOR

(Street)

NEW YORK NEW YORK 10106

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TPG RE Finance Trust, Inc. [ TRTX ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	07/24/2026		A		1,109(1)	A	$8.46	98,699	D
Common Stock								500	I	See Explanation of Responses(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. Represents shares of common stock ("Common Stock") of TPG RE Finance Trust, Inc. (the "Issuer") underlying deferred stock units ("DSUs") issued to Mr. Michael Gillmore in lieu of dividends payable on DSUs owned by Mr. Gillmore. The number of DSUs was calculated by dividing (i) the product of the number of DSUs owned by Mr. Gillmore that provide for the issuance of DSUs in lieu of cash dividends and the $0.24 per share dollar amount of the Common Stock dividend paid by the Issuer on July 24, 2026 by (ii) the closing price of the Issuer's Common Stock as of the record date for the Common Stock dividend paid by the Issuer on July 24, 2026.

2. Held through a personal trust.

Remarks:

(3) Matthew Coleman is signing on behalf of Mr. Gillmore pursuant to the power of attorney dated June 26, 2017, which was previously filed with the Securities and Exchange Commission.

	/s/ Matthew Coleman, By: Matthew Coleman, on behalf of Michael Gillmore (3)	07/28/2026
	** 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).
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.
* Form 4: SEC 1474 (03-26)