Starwood Property Trust, Inc.: CEO Barry S Sternlicht exercised 276,666 shares

What happened

• Barry S Sternlicht, CEO, chairman of the board and director, reported exercise/conversion of derivatives for 276,666 shares on Sep 30, 2026. The Form 4 shows an acquisition entry for 276,666 shares (derivative) and a corresponding disposition entry for 276,666 shares at $0.00.
• Footnote detail in the filing states that SPT Management, LLC (the issuer's external manager) acquired the 276,666 shares in connection with the vesting of restricted stock units: 108,333 from 2024 RSUs, 112,500 from 2025 RSUs and 55,833 from 2026 RSUs. Each restricted stock unit converts to one share.

Key details

• Transaction date and prices: Sep 30, 2026; acquisition recorded as derivative conversion; disposition reported at $0.00.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Relevant footnotes from the filing:
  • F1: Manager acquired the 276,666 shares on vesting of specified RSUs.
  • F2: Remaining 2024, 2025 and 2026 RSUs vest ratably in quarterly installments through Dec 31, 2026, Dec 31, 2027 and Dec 31, 2028, respectively, and will be settled in shares promptly but no later than 30 days after each vesting date.
  • F3: The filing reflects a transfer of 2,000,000 shares previously held by the Manager to direct beneficial ownership by Mr. Sternlicht.
  • F5/F6: Each RSU equals one share; F6 quantifies remaining RSUs granted to the Manager (1,300,000 2024 RSUs, 1,350,000 2025 RSUs and 670,000 2026 RSUs, less those already vested).
• Filing timeliness: the provided excerpt does not indicate the filing was late.

Why it may matter

• The transactions reported are the vesting and conversion of restricted stock units held by the issuer's external manager and recorded as derivative exercise/conversion entries, with the reported disposition at $0.00 reflecting internal transfer/settlement rather than a market sale.
• This filing does not show why the insider traded or why the company acted.