Cheng Gena 4
4 · ADAMAS TRUST, INC. · Filed Jun 23, 2026
Research Summary
AI-generated summary of this filing
Adamas Trust (ADAM) Director Cheng Gena Receives 14,238-Share DSU Award
What Happened
Cheng Gena, a director of Adamas Trust, Inc. (ADAM), was granted 14,238 deferred stock units (DSUs) on June 19, 2026. The Form 4 reports the units at $0.00 (no cash paid); the DSUs are derivative awards that may be settled one-for-one for common shares. This is a compensation award to a director, not an open‑market purchase or sale.
Key Details
- Transaction date: 2026-06-19; Form 4 filed 2026-06-23 (filed timely).
- Transaction code/type: A = Award/Grant; 14,238 DSUs at $0.00 (derivative units).
- Vesting and settlement: DSUs vest on the day immediately before the issuer’s annual meeting in the calendar year following the grant, contingent on continued service. The reporting person elected to defer settlement until a Change in Control.
- Shares owned after transaction: Not specified in the filing.
- Footnote summary: DSUs convert one-for-one into common stock when settled; settlement deferred per the award election.
Context: DSUs are similar to restricted stock units—a form of director compensation that defers share delivery. Because settlement is deferred until a change in control, this grant does not result in immediate share issuance or sale and should be viewed as routine compensation rather than a direct market signal.
Insider Transaction Report
- Award
Deferred Stock Units
[F1]2026-06-19+14,238→ 51,378 totalExercise: $0.00→ Common Stock, par value $0.01 per share (14,238 underlying)
Footnotes (1)
- [F1]Represents an award of deferred stock units ("DSUs") granted to the Reporting Person pursuant to the Adamas Trust, Inc. 2017 Equity Incentive Plan, as amended from time to time (the "Plan"), that may be settled only for shares of common stock on a one-for-one basis. The DSUs will vest on the day immediately preceding the date of the Issuer's annual meeting of stockholders that occurs in the calendar year immediately following the calendar year in which the date of grant occurs, so long as the Reporting Person continuously provides services to the Issuer through such vesting date. Pursuant to the Reporting Person's election under the award agreement, settlement of the vested DSUs has been deferred until the date of a Change in Control (as defined in the Plan).