Mumma Steven R 4

What Happened
Steven R. Mumma, a director of Adamas Trust, received an award of 14,238 deferred stock units (DSUs) on 2026-06-19. The grant is reported at $0.00 per unit (derivative award) because it is a deferred equity award, not a cash purchase or sale. DSUs convert one-for-one to common shares when settled.

Key Details

• Transaction date: 2026-06-19; Report filed: 2026-06-23 (filing appears timely).
• Reported transaction type/code: A (award/grant); price reported: $0.00 (derivative DSUs).
• Shares/units granted: 14,238 DSUs (each convertible to one share of common stock upon settlement).
• Shares owned after transaction: Not specified in this Form 4 filing.
• Footnote summary: DSUs vest the day before the issuer’s annual meeting in the calendar year after the grant, contingent on continuous service; pursuant to the reporting person’s election under the award agreement, settlement of vested DSUs is deferred until a Change in Control (per the 2017 Equity Incentive Plan).

Context
DSU grants are a common form of director compensation and do not represent an open‑market purchase (which some investors view as a bullish signal). Because settlement is deferred and conditioned on vesting and a Change in Control per the award terms, these units represent a future right to shares rather than immediate share ownership or cash proceeds.