Barry S. Sternlicht - 23 Nov 2022 Form 4 Insider Report for STARWOOD PROPERTY TRUST, INC. (STWD)

Role: CEO, Chairman of Board, Director
Signature: /s/ Barry S. Sternlicht
Issuer symbol: STWD
Transactions as of: 23 Nov 2022
Net transactions value: $0
Form type: 4
Filing time: 28 Nov 2022, 15:31:02 UTC
Previous filing: 21 Nov 2022
Next filing: 16 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	STWD	Common Stock						2,949,488	23 Nov 2022	By controlled entities	F1
holding	STWD	Common Stock						1,974,378	23 Nov 2022	By GRAT	F2
holding	STWD	Common Stock						8,597,144	23 Nov 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	STWD	Restricted Stock Units	Award	$0	+1,500,000	+250%	$0.000000	2,100,000	23 Nov 2022	Common Stock	1,500,000		By controlled entities	F1, F3, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares of the issuer's common stock held by entities directly or indirectly controlled by Mr. Sternlicht, including SPT Management, LLC, the issuer's external manager (the "Manager"), SFIP, LLC and JAWS Capital, LP.
F2	Represents shares of the issuer's common stock held by a grantor retained annuity trust.
F3	Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.
F4	On November 23, 2022, the issuer granted to the Manager an award under the Starwood Property Trust, Inc. 2022 Manager Equity Plan consisting of 1,500,000 restricted stock units (the "2022 RSUs"). The 2022 RSUs will vest ratably in quarterly installments through September 30, 2025, in each case subject to the Manager's continued service as the issuer's external manager. As such restricted stock units vest, the awards will be settled in shares of the issuer's common stock promptly, but in no event later than 30 days, following the applicable quarterly vesting dates.
F5	Represents the 1,800,000 restricted stock units originally granted to the Manager on November 9, 2020 as an award under the Starwood Property Trust, Inc. 2020 Manager Equity Plan (the "2020 RSUs") and the 1,500,000 2022 RSUs granted to the Manager, less those 2020 RSUs that have already vested and been converted into shares of the issuer's common stock.