BACON KENNETH J 4

What Happened Kenneth J. Bacon, a director of Arbor Realty Trust, received 3,947 restricted stock units (RSUs) on March 31, 2026. The award is treated as a derivative acquisition at an implied price of $7.60 per share, with a total value of $29,997. These RSUs were issued in lieu of cash compensation under a pre-established director deferred compensation election.

Key Details

• Transaction date: March 31, 2026; Filing date (Form 4): April 2, 2026 (timely).
• Instrument: 3,947 fully vested Restricted Stock Units (derivative award) at $7.60/share — total ~$29,997.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: Mr. Bacon elected to defer his cash director compensation; the Company paid that deferred amount in RSUs on the payout date per the director deferred compensation plan.
• Filing status: Reported via Form 4 on April 2, 2026 (no late-filing indication).

Context RSUs issued under deferred compensation plans are a common way for directors to accept equity instead of cash; because these RSUs are fully vested on issuance, they represent immediate economic ownership in the company (and potential tax consequences), not an exercised option or open-market purchase. This type of routine director compensation award is informational and does not by itself signal a change in insider sentiment.