Pendergast Lisa A 4

What Happened

• Lisa A. Pendergast, a director of Adamas Trust, was granted 14,238 deferred stock units (DSUs) on 2026-06-19. The grant price is $0.00 and the reported value at grant is $0 (derivative award). This is an equity award (not a market purchase or sale) and represents compensation, not an immediate transfer of shares.

Key Details

• Transaction date: 2026-06-19; Form 4 filed: 2026-06-23 (timely within SEC filing window).
• Award: 14,238 DSUs granted at $0.00 (derivative award; no cash paid).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: DSUs convert one-for-one to common stock, vest the day before the issuer’s annual meeting in the calendar year immediately following the grant year (i.e., vest next year if service continues). The reporting person elected to defer settlement of vested DSUs until a Change in Control, so no shares will be issued now.
• No 10b5-1 plan, tax withholding, or sale noted in this filing.

Context

• DSUs are a common form of director compensation that give the holder a right to future shares; because settlement is deferred until a Change in Control, this award does not result in immediate share ownership or a cash transaction. Such grants are routine and generally reflect compensation arrangements rather than an insider buying or selling based on company outlook.