Jason T. Serrano - Apr 25, 2023 Form 4 Insider Report for NEW YORK MORTGAGE TRUST INC (NYMT)

Role: Chief Executive Officer, Director
Signature: /s/ Kristine R. Nario-Eng, as attornery-in-fact
Stock symbol: NYMT
Transactions as of: Apr 25, 2023
Transactions value $: $0
Form type: 4
Date filed: 4/27/2023, 04:22 PM
Previous filing: Feb 7, 2023
Next filing: Jan 3, 2024

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	+103K	+285.37%	$0.00	138K	Apr 25, 2023	Common Stock, par value $0.01 per share	103K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Represents restricted stock units ("RSUs") issued pursuant to NYMT's 2017 Equity Incentive Plan (as amended) under NYMT's 2023 Long-Term Equity Plan, 1/3 of which will become fully vested and non-forfeitable on January 1, 2024, January 1, 2025 and January 1, 2026. 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.
F2	On March 9, 2023, NYMT effected a one-for-four reverse stock split of its common stock. The amount of securities reported has been adjusted to reflect the reverse stock split.

Content

Represents restricted stock units ("RSUs") issued pursuant to NYMT's 2017 Equity Incentive Plan (as amended) under NYMT's 2023 Long-Term Equity Plan, 1/3 of which will become fully vested and non-forfeitable on January 1, 2024, January 1, 2025 and January 1, 2026. 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.

On March 9, 2023, NYMT effected a one-for-four reverse stock split of its common stock. The amount of securities reported has been adjusted to reflect the reverse stock split.