Patel Apeksha 4

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.