Form 4: New York Mortgage Trust Director Steven Mumma Receives Deferred Stock Unit Award

New York Mortgage Trust, Inc. Director Steven R. Mumma was granted 18,678 deferred stock units (DSUs) as part of the company's 2017 Equity Incentive Plan.

Summary

• Steven R. Mumma, a Director of New York Mortgage Trust, Inc. (NYMT), was awarded 18,678 Deferred Stock Units (DSUs) on June 12, 2025.
• The DSUs were granted under the New York Mortgage Trust, Inc. 2017 Equity Incentive Plan.
• Each DSU may be settled for one share of common stock, par value $0.01 per share.
• The DSUs will vest on the day immediately preceding the Issuer's annual meeting of stockholders in the calendar year following the grant year, contingent on continuous service.
• Settlement of the vested DSUs has been deferred by Mr. Mumma until the date of a Change in Control, as defined in the Plan.
• Following this transaction, Mr. Mumma beneficially owns a total of 37,140 DSUs.

Sentiment

Score: 6

Explanation: The document reports a routine compensation event (grant of DSUs to a director). This is generally a neutral to slightly positive event as it aligns director interests with shareholders, but it does not indicate significant operational or financial news.

Positives

• The award of Deferred Stock Units to Director Steven R. Mumma aligns his interests with those of the shareholders, as the value of the DSUs is tied to the company's stock performance.
• The grant is part of an existing, approved equity incentive plan (2017 Equity Incentive Plan), indicating a structured approach to executive and director compensation.

Future Outlook

The Deferred Stock Units granted to Director Steven R. Mumma are set to vest on the day immediately preceding the company's annual meeting of stockholders in the calendar year following the grant year, provided he continues to provide services. Settlement of these vested units is deferred until a Change in Control event.

Industry Context

The granting of deferred stock units to directors is a common practice in the financial services and real estate investment trust (REIT) sectors, serving as a form of long-term incentive compensation that aligns the interests of directors with those of shareholders. This practice is consistent with broader industry trends in corporate governance and executive compensation.

Comparison to Industry Standards

• The use of Deferred Stock Units (DSUs) as a form of director compensation is a standard practice across publicly traded companies, including REITs like New York Mortgage Trust, Inc. This method is favored for its ability to align director incentives with long-term shareholder value.
• The vesting schedule, tied to continued service and annual meetings, is typical for such awards, ensuring retention and ongoing commitment.
• The deferral of settlement until a 'Change in Control' event is a common feature in DSU plans, providing a potential liquidity event for the director while maintaining their equity interest in the company until a significant corporate event.

Corporate Governance

Related Party Transactions

• The grant of 18,678 Deferred Stock Units to Steven R. Mumma, a Director of New York Mortgage Trust, Inc., constitutes a related party transaction as it involves compensation provided by the company to a member of its board of directors.

Stakeholder Impact

• Shareholders: The award of DSUs to a director helps align the director's financial interests with those of the shareholders, potentially encouraging decisions that enhance long-term stock value.
• Employees: While this specific filing pertains to a director, the underlying equity incentive plan may also apply to employees, indicating a broader framework for performance-based compensation.

Next Steps

• The Deferred Stock Units will vest on the day immediately preceding the Issuer's annual meeting of stockholders in the calendar year following the grant year, subject to continuous service.
• Settlement of the vested DSUs will occur upon a Change in Control event, as elected by the Reporting Person.

Key Dates

Keywords

SEC Form 4, New York Mortgage Trust, NYMT, Deferred Stock Units, DSUs, Director Compensation, Equity Incentive Plan, Insider Transaction, Steven R. Mumma, Corporate Governance