BACON KENNETH J 4

What Happened
Kenneth J. Bacon, a director of Arbor Realty Trust, received 357 restricted stock units (RSUs) on June 15, 2026. The RSUs are recorded at $5.18 per share, a notional value of $1,849. This transaction is an award (Form 4 code A) and represents dividend equivalents credited as RSUs rather than a cash dividend.

Key Details

• Transaction date: 2026-06-15; Filing date: 2026-06-16 (timely filing).
• Grant details: 357 fully vested RSUs at $5.18 per share (total ~$1,849). Transaction reported as a derivative award.
• Deferral: Mr. Bacon elected to defer dividend equivalents and the actual receipt of shares until January 1, 2027, or sooner upon a change in control or termination of his director service, per a pre-established deferral election.
• Shares owned after the transaction: not specified in the filing.
• Transaction code: A = Award/Grant; not a purchase or sale.

Context
This was an award of dividend equivalents converted into RSUs and deferred for future stock issuance—common for directors and not an open-market purchase or sale. Because the RSUs are fully vested but deferred, no new tradable shares were delivered to Mr. Bacon at the time of the grant.