KASNET STEPHEN G 4
4 · Granite Point Mortgage Trust Inc. · Filed Jun 9, 2026
Research Summary
AI-generated summary of this filing
GPMT Director Stephen Kasnet Receives RSUs, Sells 26,772 Shares
What Happened
Stephen G. Kasnet, a director of Granite Point Mortgage Trust, had 66,929 restricted stock units (RSUs) vest and convert into 66,929 common shares on June 5, 2026. The Form 4 shows a simultaneous disposition of 66,929 shares at $0.00 (derivative line), and a separate open‑market sale of 26,772 shares on June 8, 2026 at a weighted average price of $1.48, generating $39,623. Footnotes indicate the RSUs convert one‑for‑one and the sale was executed under a pre‑established Rule 10b5‑1 trading plan to satisfy income tax liabilities from the vesting.
Key Details
- Transaction dates and amounts:
- June 5, 2026 — Conversion/vesting of 66,929 RSUs into common shares (reported as an "acquired" derivative transaction).
- June 5, 2026 — Disposition of 66,929 shares at $0.00 (reported as a derivative disposition; filing indicates conversion/settlement mechanics).
- June 8, 2026 — Open‑market sale of 26,772 shares at a weighted average price of $1.48 for total proceeds of $39,623.
- Shares owned after the transactions: Not specified in the information provided on this report.
- Notable footnotes:
- F1/F4: RSUs were granted June 5, 2025 (66,929 units) and vested in full on the first anniversary (June 5, 2026); they convert one‑for‑one to common stock.
- F2: June 8 sale was effected pursuant to a 10b5‑1 plan established Nov 18, 2025; proceeds intended to satisfy income tax liabilities from the RSU vesting.
- F3: $1.48 is a weighted average price for multiple sale trades ranging $1.43–$1.55.
- Filing timeliness: Report filed June 9, 2026 for transactions beginning June 5, 2026 — appears to be timely.
Context
The filing reflects a routine director vesting event (RSUs converting into shares) followed by share disposition(s) associated with tax/settlement mechanics and a small open‑market sale under a 10b5‑1 plan. The monetary amount from the open‑market sale is modest (~$39.6K) and, per the footnote, was intended to cover tax liabilities arising from the RSU vesting. The derivative code (M) here denotes conversion/exercise of a derivative award (RSU conversion), and the $0.00 disposition line reflects internal settlement/withholding rather than a cash sale.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-06-05+66,929→ 205,495 total - Sale
Common Stock
[F2][F3]2026-06-08$1.48/sh−26,772$39,623→ 178,723 total - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-06-05−66,929→ 0 totalExercise: $0.00Exp: 2026-06-05→ Common Stock (66,929 underlying)
- 312(indirect: By Foundation)
Common Stock
Footnotes (4)
- [F1]Restricted stock units convert into common stock on a one-for-one basis.
- [F2]This transaction was effected pursuant to trading instructions given by the reporting person on November 18, 2025, in accordance with Rule 10b5-1(c) of the Securities Exchange Act of 1934. The reporting person intends to use the proceeds from this sale to satisfy income tax liabilities related to the June 5, 2026, vesting of a restricted stock unit award previously granted to the reporting person.
- [F3]Per share price reflects the weighted average price paid. The shares were purchased in multiple transactions at prices ranging from $1.43 to $1.55. The reporting person undertakes to provide, upon request, full information regarding the shares purchased in such transactions.
- [F4]On June 5, 2025, the reporting person was granted 66,929 restricted stock units under the Amended and Restated Granite Point Mortgage Trust Inc. 2022 Omnibus Incentive Plan, which vested in full on the first anniversary of the grant date.