ADAMAS TRUST, INC. — Director's Dealing 2023

Feb 1, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW YORK MORTGAGE TRUST INC (NYMT)
CIK: 0001273685
Period of Report: 2023-01-27

Reporting Person: Serrano Jason T (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-27	Common Stock, par value $0.01 per share	A	131877	—	Acquired	948817	Direct
2023-01-27	Common Stock, par value $0.01 per share	F	47255	$3.09	Disposed	901562	Direct
2023-01-27	Common Stock, par value $0.01 per share	A	128411	—	Acquired	1029973	Direct
2023-01-27	Common Stock, par value $0.01 per share	F	47666	$3.09	Disposed	982307	Direct

Footnotes

F1: Represents shares of restricted stock issued pursuant to New York Mortgage Trust's ("NYMT") 2017 Stock Incentive Plan as payment of the restricted stock portion of compensation earned by the Reporting Person pursuant to NYMT's 2022 Annual Incentive Plan, 1/3 of which will become fully vested and non-forfeitable on each of the first, second and third anniversaries of the date of grant.

F2: Surrendered to satisfy tax liability incident to the vesting of shares of restricted stock issued pursuant to NYMT's 2017 Stock Incentive Plan.

F3: Shares acquired pursuant to the settlement of performance-based stock units ("PSUs") granted to the Reporting Person in 2020. Per the terms of the award agreement governing the PSUs, the number of underlying shares of NYMT common stock that the recipient ultimately became entitled to receive at the time of vesting ranged from 0% to 200% of the target number of PSUs granted, subject to the achievement of a pre-established performance metric. The vesting of these PSUs was based on NYMT's total stockholder return for the three years ended December 31, 2022.

F4: Surrendered to satisfy tax liability incident to the settlement of PSUs described in Note 3 above.