Clement Michael B. 4

What Happened

• Clement Michael B., a director of Adamas Trust, Inc. (ADAM), received an award of 14,238 deferred stock units (DSUs) on 2026-06-19. The grant is reported as a derivative award at $0.00 per unit (transaction code A), meaning it was a compensation grant rather than a purchase. The Form 4 does not report a cash value or the number of shares owned following the award.

Key Details

• Transaction date: 2026-06-19 (reported on Form 4 filed 2026-06-23).
• Security: 14,238 deferred stock units (DSUs); reported price $0.00 (award/grant).
• Settlement: DSUs may be settled only for common stock on a one-for-one basis (derivative).
• Vesting: DSUs vest the day immediately preceding the issuer’s annual meeting in the calendar year following the grant year, subject to continuous service (per footnote).
• Shares owned after transaction: Not disclosed in the provided filing.
• Timeliness: Form 4 filed within required period (filed 06/23/2026 for a 06/19/2026 transaction), so not a late filing.

Context

• DSUs are a common form of director compensation and do not represent an open-market buy or sell; they convert to shares upon settlement and vesting conditions. Such awards are routine and reflect compensation policy rather than an immediate trading signal.