Patel Apeksha 4
4 · Cherry Hill Mortgage Investment Corp · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
Cherry Hill (CHMI) CFO Apeksha Patel Converts 11,000 RSUs
What Happened
Apeksha Patel, Chief Financial Officer of Cherry Hill Mortgage Investment Corp (CHMI), converted 11,000 restricted stock units (RSUs) into 11,000 shares on 2026-06-01. The RSUs converted at $0 exercise price; 3,449 shares were withheld by the company to satisfy tax withholding at an implied per-share value of $2.42, totaling $8,347. The net number of shares delivered to Patel was 7,551 (11,000 converted minus 3,449 withheld). The filing shows the derivative awards were canceled/converted as part of this transaction.
Key Details
- Transaction date: 2026-06-01; Form 4 filed 2026-06-03 (timely).
- Conversion/exercise: 11,000 RSUs converted into shares (transaction code M). Exercise/conversion recorded with $0.00 exercise price.
- Tax withholding: 3,449 shares withheld (transaction code F) at $2.42/share for $8,347.
- Net shares received: 7,551 (11,000 converted − 3,449 withheld).
- Shares owned after transaction: not specified in the filing.
- Relevant footnotes: F1–F3 confirm these were RSUs (one RSU = one share) granted on May 30, 2024 (33,333 RSUs; vesting schedule over three years) and that shares can be withheld to satisfy withholding taxes.
Context
This was a conversion/settlement of RSUs (restricted stock units), not an open-market purchase or an intentional sale for liquidity. The withholding of shares to cover taxes is a routine administrative step (a cashless-type settlement) and does not necessarily signal a buy or sell decision by the insider.
Insider Transaction Report
- Exercise/Conversion
Common Stock, par value $0.01 per share
[F1]2026-06-01+11,000→ 17,907 total - Tax Payment
Common Stock, par value $0.01 per share
[F2]2026-06-01$2.42/sh−3,449$8,347→ 14,458 total - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-06-01−11,000→ 87,091 total→ Common Stock, par value $0.01 per share (11,000 underlying)
Footnotes (3)
- [F1]Each granted restricted stock unit ("RSU") represents the right to receive one share of the Issuer's common stock. Vested RSUs are payable in the form of shares of the Issuer's common stock, delivered to the reporting person no later than sixty days after the date on which vesting occurs, subject to the collection of withholding taxes.
- [F2]Shares of common stock withheld by Cherry Hill Mortgage Investment Corporation to satisfy tax withholding requirements on the grant of unrestricted shares of common stock.
- [F3]On May 30, 2024, the Reporting Person was granted 33,333 RSUs, vesting ratably over a three-year period, with one-third vesting on the first anniversary of the grant date, one-third on the second anniversary of the grant date, and one-third on the third anniversary of the grant date, subject to the terms and conditions of the Cherry Hill Mortgage Investment Corporation 2023 Equity Incentive Plan and the Restricted Stock Unit Award Agreement entered into between the Issuer and the Reporting Person.