Barry S. Sternlicht - Mar 31, 2023 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
Mar 31, 2023
Transactions value $
$0
Form type
4
Date filed
3/31/2023, 04:30 PM
Previous filing
Mar 22, 2023
Next filing
Apr 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STWD Common Stock Options Exercise +275K +23.9% 1.43M Mar 31, 2023 By controlled entities F1, F2, F3
holding STWD Common Stock 12.8M Mar 31, 2023 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 Options Exercise $0 -275K -15.07% $0.00 1.55M Mar 31, 2023 Common Stock 275K By controlled entities F1, F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 31, 2023, SPT Management, LLC, the issuer's external manager (the "Manager"), acquired 275,000 shares of the issuer's common stock in connection with the vesting of (i) 150,000 of the restricted stock units originally granted to the Manager on November 9, 2020 as an award under the Starwood Property Trust, Inc. 2017 Manager Equity Plan (the "2020 RSUs"), and (ii) 125,000 of the restricted stock units originally granted to the Manager on November 23, 2022 as an award under the Starwood Property Trust, Inc. 2022 Manager Equity Plan (the "2022 RSUs").
F2 The remaining 2020 RSUs will vest ratably in quarterly installments through September 30, 2023 and the remaining 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.
F3 Represents shares of the issuer's common stock held by entities directly or indirectly controlled by Mr. Sternlicht, including the Manager, SFIP, LLC and JAWS Capital, LP.
F4 Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.
F5 Represents the 1,800,000 2020 RSUs granted to the Manager and the 1,500,000 2022 RSUs granted to the Manager, less those restricted stock units that have already vested and been converted into shares of the issuer's common stock.