TPG RE Finance Trust (TRTX) director reports 13,012 deferred stock units award

Rhea-AI Filing Summary

TPG RE Finance Trust, Inc. director receives deferred stock unit award

Director Michael Gillmore was granted 13,012 deferred stock units of TPG RE Finance Trust, Inc. common stock on December 24, 2025. The award was fully vested on the grant date, but the underlying shares will only be delivered upon his "Separation from Service" as defined in the related award agreement. The Form 4 reports that after this grant, Gillmore beneficially owns 95,388 shares of common stock directly and 500 shares indirectly through a personal trust.

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^*

Gillmore Michael

(Last) (First) (Middle)

C/O TPG RE FINANCE TRUST, INC.

888 SEVENTH AVENUE, 35TH FLOOR

(Street)

NEW YORK NY 10106

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
12/24/2025

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	12/24/2025		A		13,012(1)	A	$0	95,388	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. underlying deferred stock units (the "New DSUs") awarded to Mr. Michael Gillmore on December 24, 2025 (the "Grant Date"). The New DSUs were 100% vested on the Grant Date, but are subject to the restrictions set forth in the award agreement for the New DSUs (the "New DSU Award Agreement"). Subject to the terms of the New DSU Award Agreement, the shares of Common Stock underlying the New DSUs will be delivered to Mr. Gillmore on the date of Mr. Gillmore's "Separation from Service" (as defined in the New DSU Award Agreement).

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)	12/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did TPG RE Finance Trust (TRTX) report for Michael Gillmore?

TPG RE Finance Trust, Inc. reported that director Michael Gillmore received an award of 13,012 deferred stock units of common stock on December 24, 2025. These units were 100% vested on the grant date and will settle in shares of common stock upon his "Separation from Service" under the award agreement.

How many TRTX shares does Michael Gillmore beneficially own after this transaction?

Following the reported transaction, Michael Gillmore beneficially owns 95,388 shares of TPG RE Finance Trust, Inc. common stock directly and 500 shares indirectly, which are held through a personal trust.

What is the nature of the equity award reported for TRTX director Michael Gillmore?

The award consists of deferred stock units, each representing one share of TPG RE Finance Trust, Inc. common stock. The units were fully vested on the December 24, 2025 grant date, but the underlying shares will be delivered only when Mr. Gillmore experiences a "Separation from Service" as defined in the New DSU Award Agreement.

What transaction price was reported for the TRTX deferred stock units grant?

The Form 4 lists a transaction price of $0 for the acquisition of the 13,012 deferred stock units, reflecting that this was an equity award rather than an open-market purchase.

What is Michael Gillmore’s role and relationship to TPG RE Finance Trust (TRTX)?

Michael Gillmore is reported as a director of TPG RE Finance Trust, Inc. on the Form 4. The filing indicates that the form is filed by one reporting person, reflecting his individual reporting obligation as an insider.

Who signed the Form 4 filed for TRTX director Michael Gillmore?

The Form 4 was signed by Matthew Coleman on behalf of Michael Gillmore, pursuant to a power of attorney dated June 26, 2017, which had been previously filed with the Securities and Exchange Commission.