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

Role: CEO, Chairman of Board, Director
Signature: /s/ Barry S. Sternlicht
Stock symbol: STWD
Transactions as of: Nov 23, 2022
Transactions value $: $0
Form type: 4
Date filed: 11/28/2022, 03:31 PM
Previous filing: Nov 21, 2022
Next filing: Dec 16, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	STWD	Common Stock						2.95M	Nov 23, 2022	By controlled entities	F1
holding	STWD	Common Stock						1.97M	Nov 23, 2022	By GRAT	F2
holding	STWD	Common Stock						8.6M	Nov 23, 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	+1.5M	+250%	$0.00	2.1M	Nov 23, 2022	Common Stock	1.5M		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.