STERNLICHT BARRY S 4
4 · STARWOOD PROPERTY TRUST, INC. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Starwood CEO Barry Sternlicht Receives 276,666 Shares from RSU Vesting
What Happened
- Barry S. Sternlicht, CEO, Chairman and a director of Starwood Property Trust (STWD), is reporting the vesting and conversion of 276,666 restricted stock units (RSUs) that were settled in common shares on March 31, 2026. The filing shows the Manager (SPT Management, LLC) acquired those 276,666 shares upon vesting. The filing also reports disposals at $0: 276,666 shares shown as converted/settled from derivatives and a separate reported distribution/disposition of 16,684 shares on April 1, 2026. The disposals at $0 reflect internal transfers/distributions (not open‑market sales) per the footnotes; no cash proceeds are reported.
Key Details
- Transaction dates/prices: March 31, 2026 (276,666 RSUs vested/converted to shares; acquisition reported by the Manager); April 1, 2026 (16,684 shares disposed at $0). Disposition of the converted derivative is reported at $0 in the filing.
- Shares noted as transferred to Mr. Sternlicht: footnote F3 reports 68,572 shares previously held by the Manager were transferred and are now directly beneficially owned by Mr. Sternlicht.
- Vesting detail (F1/F2/F6/F7): the 276,666 shares represent vested portions of 2024, 2025 and 2026 RSU grants to the Manager (RSUs convert 1-for-1 to shares); remaining RSUs will vest ratably through 2026–2028 and be settled in shares within 30 days of each vesting date.
- Distributions (F5): some shares were distributed by the Manager to certain employees/affiliates (explains the $0 dispositions).
- Ownership/disclaimer (F4): many securities are held by entities controlled by Mr. Sternlicht (SPT Management, SFIP, JAWS Capital); he disclaims beneficial ownership except to the extent of his pecuniary interest.
- Filing timeliness: Form 4 filed April 2, 2026; appears timely relative to the reported March 31 – April 1 transactions.
Context
- These transactions are internal vesting conversions of RSUs awarded to the external manager (SPT Management, LLC) and related transfers/distributions, not open‑market buys or cash sales. Derivative code M here reflects conversion/exercise of RSUs into shares; the reported $0 dispositions represent distributions/transfers, not public sales. Such filings document equity compensation flow and entity holdings rather than signaling a market buy/sell by the executive.
Insider Transaction Report
Form 4
STERNLICHT BARRY S
DirectorCEO, Chairman of the Board
Transactions
- Exercise/Conversion
Common Stock
[F1][F2][F3][F4]2026-03-31+276,666→ 3,318,389 total(indirect: By controlled entities) - Other
Common Stock
[F5][F4]2026-04-01−16,684→ 3,301,705 total(indirect: By controlled entities) - Exercise/Conversion
Restricted Stock Units
[F6][F1][F2][F7][F4]2026-03-31−276,666→ 1,726,670 total(indirect: By controlled entities)→ Common Stock (276,666 underlying)
Holdings
- 14,296,027
Common Stock
[F3]
Footnotes (7)
- [F1]On March 31, 2026, SPT Management, LLC, the issuer's external manager (the "Manager"), acquired 276,666 shares of the issuer's common stock in connection with the vesting of (i) 108,333 of the restricted stock units originally granted to the Manager on March 4, 2024 (the "2024 RSUs"), (ii) 112,500 of the restricted stock units originally granted to the Manager on March 6, 2025 (the "2025 RSUs"), and (iii) 55,833 of the restricted stock units originally granted to the Manager on March 10, 2026 (the "2026 RSUs"), each as an award under the Starwood Property Trust, Inc. 2022 Manager Equity Plan.
- [F2]The remaining 2024 RSUs, the remaining 2025 RSUs and the remaining 2026 RSUs will vest ratably in quarterly installments through December 31, 2026, December 31, 2027, and December 31, 2028, respectively, 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]Reflects the transfer of 68,572 shares of the issuer's common stock that were previously held by the Manager and reported as indirectly beneficially owned by Mr. Sternlicht on February 25, 2026, such that they are now directly beneficially owned by Mr. Sternlicht.
- [F4]Represents securities held by entities directly or indirectly controlled by Mr. Sternlicht, including the Manager, SFIP, LLC and JAWS Capital, LP. Mr. Sternlicht disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
- [F5]Represents shares of the issuer's common stock distributed by the Manager to certain employees and/or other persons having an affiliation with the Manager.
- [F6]Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.
- [F7]Represents the 1,300,000 2024 RSUs, the 1,350,000 2025 RSUs and the 670,000 2026 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.
Signature
/s/ Barry S. Sternlicht|2026-04-02