Schwartz Elliot 4

What Happened
Elliot Schwartz, a director of Arbor Realty Trust, was granted 15,141 fully vested restricted stock units (RSUs) on March 13, 2026. The Form 4 reports the transaction as a derivative award (code A) at $0.00 (reported value $0), reflecting an RSU grant rather than an open‑market purchase or sale. This is a compensation/award transaction, not an immediate cash sale or purchase.

Key Details

• Transaction date: 2026-03-13; Form 4 filed: 2026-03-17 (appears timely under the 2-business-day rule).
• Instrument: 15,141 RSUs (reported as derivative grant) @ $0.00; reported value $0.
• Shares owned after transaction: not disclosed in this filing.
• Footnote: Mr. Schwartz elected to defer receipt of the underlying common stock until his director service terminates (or sooner upon a change in control) per a pre-established deferral election under the Company’s 2024 Amended Omnibus Stock Incentive Plan.
• Filing timeliness: filing date matches standard Form 4 timing and is not indicated as late.

Context: RSUs represent a right to receive company shares in the future — here the units are fully vested but delivery of the actual shares is deferred per the director’s election. Such awards are routine compensation for directors and do not necessarily signal immediate buying or selling intent.