TPG RE Finance Trust (TRTX) director awarded 2,169 deferred stock units

Rhea-AI Filing Summary

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

Director Edward Goldthorpe was granted 2,169 shares of TPG RE Finance Trust, Inc. common stock on December 24, 2025 through deferred stock units. The award was fully vested on the grant date at a price of $0 per share, indicating it was an equity compensation grant rather than a market purchase.

Under the award terms, the shares will be delivered to Mr. Goldthorpe when he has a "Separation from Service" as defined in his deferred stock unit award agreement. Following this grant, he beneficially owns 2,169 shares directly. The form is signed by Matthew Coleman under a previously granted power of attorney.

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

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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^*

Goldthorpe Edward J.

(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		2,169(1)	A	$0	2,169	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 shares of common stock ("Common Stock") of TPG RE Finance Trust, Inc. underlying deferred stock units (the "New DSUs") awarded to Mr. Edward Goldthorpe 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. Goldthorpe on the date of Mr. Goldthorpe's "Separation from Service" (as defined in the New DSU Award Agreement).

Remarks:

(2) Matthew Coleman is signing on behalf of Mr. Goldthorpe pursuant to the power of attorney dated October 2, 2025, which was previously filed with the Securities and Exchange Commission.

	/s/ Matthew Coleman, By: Matthew Coleman, on behalf of Edward Goldthorpe (2)	12/29/2025
	** 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.
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FAQ

What insider transaction was reported for TPG RE Finance Trust, Inc. (TRTX)?

Director Edward Goldthorpe received 2,169 shares of TPG RE Finance Trust, Inc. common stock through deferred stock units granted on December 24, 2025.

At what price were the TRTX shares granted to director Edward Goldthorpe?

The 2,169 shares of TPG RE Finance Trust, Inc. common stock underlying the deferred stock units were granted at a price of $0 per share as equity compensation.

When will Edward Goldthorpe receive the TRTX shares from his deferred stock units?

The shares of TRTX common stock underlying the deferred stock units will be delivered to Edward Goldthorpe on the date of his "Separation from Service", as defined in his award agreement.

Were the deferred stock units granted to the TRTX director vested immediately?

Yes. The deferred stock units granted to Edward Goldthorpe on December 24, 2025 were stated to be 100% vested on the grant date, subject to the award agreement restrictions.

How many TRTX shares does Edward Goldthorpe beneficially own after this transaction?

Following the reported transaction, Edward Goldthorpe beneficially owns 2,169 shares of TPG RE Finance Trust, Inc. common stock in direct ownership.

Who signed the insider report related to the TRTX director award?

Matthew Coleman signed on behalf of Edward Goldthorpe pursuant to a power of attorney dated October 2, 2025.