STERNLICHT BARRY S 4

What Happened

• Barry S. Sternlicht, CEO, Chairman and Director of Starwood Property Trust (STWD), reported an award (transaction code A) of 3,565 restricted shares on March 16, 2026. The filing lists no per‑share price or aggregate dollar value (N/A).
• The shares were granted to SPT Management, LLC (the company's external manager) as payment of 50% of the manager’s incentive fee under the Management Agreement, per the filing footnote.

Key Details

• Transaction date: 2026-03-16; Form 4 filed: 2026-03-18 (timely filing).
• Transaction type/code: Award/Grant (A); price reported as N/A — no dollar value provided in the filing.
• Shares involved: 3,565 restricted shares granted to the Manager.
• Shares owned after transaction: Not specified in this filing; footnote indicates related shares are held by entities controlled by Mr. Sternlicht (SPT Management, SFIP, LLC and JAWS Capital, LP). Mr. Sternlicht disclaims beneficial ownership except to the extent of his pecuniary interest.
• Footnotes: F1 explains the grant is payment of 50% of the incentive fee to the Manager. F2 clarifies certain shares are held by entities Mr. Sternlicht controls and disclaims beneficial ownership beyond pecuniary interest.

Context

• This was an award to the external manager (not an open‑market purchase or sale by Sternlicht personally). Such grants often reflect contractual fee payment arrangements rather than direct insider buying or selling decisions.
• Because no price/value is provided and the shares were issued to the manager, the transaction does not plainly signal personal bullish or bearish trading by the insider.