Form 4: New York Mortgage Trust Director Lisa A. Pendergast Awarded Deferred Stock Units

Director Lisa A. Pendergast receives 18,462 deferred stock units from New York Mortgage Trust, vesting prior to the next annual meeting and settlement deferred until a change in control or the third anniversary of the grant.

Summary

• Lisa A. Pendergast, a director of New York Mortgage Trust, Inc., was granted 18,462 deferred stock units (DSUs) on August 22, 2024.
• The DSUs were awarded under the company's 2017 Equity Incentive Plan.
• Each DSU can be settled for one share of common stock.
• The DSUs will vest the day before the next annual meeting of stockholders, provided Pendergast continues to serve the company.
• Settlement of the vested DSUs is deferred until the earliest of a Change in Control or the third anniversary of the grant date.

Sentiment

Score: 7

Explanation: The document indicates a standard equity compensation practice, which is generally viewed neutrally to positively as it aligns director interests with shareholders. The sentiment is slightly positive due to the incentive for continued service.

Positives

• The award of deferred stock units aligns the director's interests with those of the shareholders.
• Continued service is required for vesting, incentivizing the director to remain with the company.

Future Outlook

The deferred stock units 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. Pursuant to the Reporting Person's election under the award agreement, settlement of the vested DSUs has been deferred until the earliest to occur of the date of a Change in Control (as defined in the Plan) or the date that is the third anniversary of the date of grant.

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.

Stakeholder Impact

• Shareholders may view the equity grant positively as it aligns the director's interests with the company's performance.

Key Dates