STERNLICHT BARRY S 4

What Happened Barry S. Sternlicht, CEO, Chairman and a director of Starwood Property Trust (STWD), was granted 670,000 restricted stock units (RSUs) on March 10, 2026. The award (transaction code A) shows $0 cash paid (a derivative equity grant). The 2026 RSUs will vest ratably in quarterly installments through December 31, 2028 and will be settled in shares of common stock promptly (but within 30 days) after each quarterly vesting date.

Key Details

• Transaction date: 2026-03-10; reported on Form 4 filed 2026-03-12 (timely filing).
• Price: $0 (equity award/derivative); code A = Award/Grant.
• Vesting/settlement: Vesting ratably quarterly through 12/31/2028; each vested RSU converts 1-for-1 to a share and will be settled in shares within 30 days of each vesting date (Footnotes F2–F3).
• Shares owned after transaction: Filing does not state an exact total common-share beneficial ownership figure. Footnotes indicate the 670,000 2026 RSUs add to remaining unvested RSUs from prior grants (1,300,000 2024 RSUs and 1,350,000 2025 RSUs) less portions that have already vested (Footnote F4).
• Beneficial ownership: Shares and RSUs are held by entities controlled by Mr. Sternlicht (SPT Management, SFIP, JAWS Capital) per Footnote F1.
• No sale or cash exercise: this was a grant of restricted units, not a sale or purchase of shares.

Context RSUs are a form of equity compensation that convert into common stock only as they vest; they do not represent immediate cash proceeds or open-market purchases. Grants to an issuer’s external manager or its principal are common corporate compensation and should be seen as a planned equity award rather than a direct market buy/sell signal. The filing indicates standard vesting and settlement terms and was filed on time.