Jason T. Serrano - Jan 27, 2022 Form 4 Insider Report for NEW YORK MORTGAGE TRUST INC (NYMT)

Role: Chief Executive Officer, Director
Signature: /s/ Jason T. Serrano
Stock symbol: NYMT
Transactions as of: Jan 27, 2022
Transactions value $: -$315,850
Form type: 4
Date filed: 1/31/2022, 07:26 PM
Previous filing: Jan 10, 2022
Next filing: Feb 8, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NYMT	Common Stock, par value $0.01 per share	Award	$0	+176K	+34.04%	$0.00	693K	Jan 27, 2022	Direct	F1
transaction	NYMT	Common Stock, par value $0.01 per share	Award	$0	+172K	+24.81%	$0.00	865K	Jan 27, 2022	Direct	F2
transaction	NYMT	Common Stock, par value $0.01 per share	Tax liability	-$316K	-84.9K	-9.82%	$3.72	780K	Jan 27, 2022	Direct	F3

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	NYMT	Restricted Stock Units	Award	$0	+148K	+126.27%	$0.00	265K	Jan 27, 2022	Common Stock, par value $0.01 per share	148K		Direct	F4

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

Explanation of Responses:

Id	Content
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 2021 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	Shares acquired pursuant to the settlement of performance-based stock units ("PSUs") granted to the Reporting Person in 2019. 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, 2021.
F3	Surrendered to satisfy tax liability incident to the settlement of PSUs described in Note 2 above.
F4	Represents restricted stock units ("RSUs") issued pursuant to NYMT's 2017 Equity Incentive Plan (as amended) under NYMT's 2022 Long-Term Equity 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. Pursuant to a restricted stock unit award agreement (the "RSU Award Agreement"), the RSUs represent the right to receive shares of common stock of NYMT on a one-to-one basis upon vesting, subject to the terms and conditions of the RSU Award Agreement, and are granted in tandem with a corresponding dividend equivalent right that entitles, upon vesting, the Reporting Person to receive payments in cash or stock of NYMT equivalent to any dividends paid by NYMT on the shares of NYMT common stock underlying the RSUs.