ESTEVES IRENE M 4

What Happened

• Irene M. Esteves, a director of KKR Real Estate Finance Trust, was granted 16,691 restricted stock units (RSUs) on April 14, 2026. The reported acquisition price is $0.00, indicating an awarded grant rather than a cash purchase. The filing shows no immediate cash value realized; the RSUs convert to common shares upon vesting.

Key Details

• Transaction date: 2026-04-14; Filing date (Form 4): 2026-04-16.
• Transaction code: A (award/grant). Shares granted: 16,691; price per share reported: $0.00; reported cash outlay: $0.
• Shares owned after transaction: not disclosed in the provided filing.
• Footnote: The RSUs vest on the earlier of (i) April 14, 2027 or (ii) the first regular annual meeting after the grant. Ms. Esteves elected to defer receipt of the shares until she no longer serves on the board.
• Timeliness: Filing appears timely (Form 4 filed two days after the reported transaction).

Context

• RSU grants are a form of compensation and do not represent an immediate market purchase or sale. These awards become shares only upon vesting; because Ms. Esteves deferred receipt, she will not receive (or be able to sell) the underlying shares until the deferred distribution conditions are met. This is routine for director compensation and does not, by itself, indicate a buy or sell signal.