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

Steven G. Norcutt, a Director of New York Mortgage Trust, Inc. (NYMT), was granted 18,678 deferred stock units (DSUs) as part of the company's equity incentive plan.

Summary

• Steven G. Norcutt, a Director of New York Mortgage Trust, Inc. (NYMT), received an award of 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, as amended.
• 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, provided Mr. Norcutt continuously provides services until that date.
• Settlement of the vested DSUs has been deferred, per Mr. Norcutt's election, until the date of a Change in Control as defined in the Plan.
• Following this transaction, Mr. Norcutt beneficially owns 37,140 deferred stock units directly.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. While not a major market-moving event, the grant of equity awards to a director is a positive sign of aligning management interests with shareholders and is a standard compensation practice. It does not indicate any negative operational or financial issues.

Positives

• The award of deferred stock units to Director Steven G. Norcutt aligns his interests with those of the shareholders, as the value of the DSUs is tied to the company's common stock performance.
• The grant is part of an existing equity incentive plan, indicating a structured approach to executive and director compensation.

Future Outlook

The future outlook for these specific DSUs involves their vesting on the day preceding the annual meeting in the calendar year following the grant year, contingent on continuous service, and their eventual settlement upon a Change in Control of the Issuer.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically an equity award to a director. Such awards are common practice across various industries, including the mortgage REIT sector, to incentivize and retain key personnel by aligning their financial interests with long-term company performance.

Corporate Governance

Related Party Transactions

• The award of 18,678 Deferred Stock Units to Steven G. Norcutt, a Director of New York Mortgage Trust, Inc., constitutes a related party transaction as it involves compensation to a member of the company's board of directors.

Stakeholder Impact

• Shareholders: The DSU award aligns the director's financial incentives with shareholder interests, as the value of the DSUs is tied to the company's stock performance.
• Employees: While this specific award is to a director, it reflects the company's broader use of equity incentive plans, which can also benefit employees and contribute to retention.

Next Steps

• Vesting of the 18,678 DSUs on the day immediately preceding the Issuer's annual meeting of stockholders in the calendar year following the grant year, subject to continuous service.
• Potential settlement of vested DSUs upon a Change in Control of New York Mortgage Trust, Inc.

Key Dates

Keywords

SEC Form 4, New York Mortgage Trust, NYMT, Steven G. Norcutt, Deferred Stock Units, DSU, Equity Incentive Plan, Director Compensation, Insider Transaction, Corporate Governance