Form 4: New York Mortgage Trust Director Clement Awarded Deferred Stock Units

Director Michael B. Clement receives 18,462 deferred stock units in New York Mortgage Trust, Inc.

Summary

• Michael B. Clement, a director of New York Mortgage Trust, Inc. (NYMT), was granted 18,462 deferred stock units (DSUs) on August 22, 2024.
• These DSUs were awarded under the company's 2017 Equity Incentive Plan, as amended.
• Each DSU can be settled for one share of common stock.
• The DSUs will vest on the day before the company's next annual meeting of stockholders, provided Clement continues to serve the company until that date.
• Following the transaction, Clement directly owns 18,462 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a standard equity grant, which is generally viewed neutrally to positively as it aligns director interests with shareholders. There are no indications of negative performance or concerns.

Positives

• The grant of deferred stock units aligns the director's interests with those of the shareholders, incentivizing continued service and performance.

Future Outlook

The DSUs will vest on the day immediately preceding the date of the Issuer's annual meeting of stockholders that occurs in the calendar year immediately following the calendar year in which the date of grant occurs, so long as the Reporting Person continuously provides services to the Issuer through such vesting date.

Industry Context

Equity compensation is a common practice in the real estate investment trust (REIT) industry to attract and retain talent and align management's interests with those of shareholders.

Comparison to Industry Standards

• Many REITs, such as Annaly Capital Management (NLY) and AGNC Investment Corp. (AGNC), utilize equity-based compensation plans for their executives and directors.
• The specific terms of these plans, including vesting schedules and the types of equity awards granted, can vary widely based on company size, performance, and strategic objectives.
• Comparing the vesting schedule and the size of the DSU grant to similar companies would provide a better understanding of whether this grant is in line with industry standards.

Stakeholder Impact

• The grant of DSUs could have a slightly dilutive effect on existing shareholders, but it also incentivizes the director to work towards increasing shareholder value.

Key Dates