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Granite Point Mortgage Trust Inc.·4

Jun 9, 5:05 PM ET

KASNET STEPHEN G 4

Research Summary

AI-generated summary

Updated

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.