BACON KENNETH J 4

What Happened

• Kenneth J. Bacon, a director of Arbor Realty Trust, received an award of 5,555 restricted stock units (RSUs) on June 30, 2026. The RSUs were reported at $5.40 each, for a total value of $29,997, and are recorded on the Form 4 as a derivative grant (code A). This award was granted in lieu of cash director compensation.

Key Details

• Transaction date and value: 2026-06-30; 5,555 RSUs @ $5.40 each = $29,997.
• Transaction type: Award/grant of fully vested RSUs (reported as derivative).
• Shares owned after transaction: Not disclosed in this Form 4.
• Footnote: Mr. Bacon elected to defer his 2026 cash director compensation; per the director deferred compensation plan he received 5,555 fully vested RSUs on the payout date (F1). RSUs were issued in lieu of cash and are tied to the pre-established deferral election.
• Timeliness: Form filed 2026-07-01 reporting the 6/30/2026 transaction (no late filing indicated).

Context

• RSU awards to non-employee directors are routine compensation and here were issued as deferred pay rather than an open-market purchase or sale. The filing notes the RSUs were fully vested when issued, so this is primarily a compensation event rather than an anticipatory purchase signaling a director’s market view.