Halter Patrick Gregory 4

What Happened

Patrick Gregory Halter, a director of Granite Point Mortgage Trust Inc. (GPMT), had 40,846 restricted stock units (RSUs) convert into 40,846 common shares on June 5, 2026. The Form 4 shows an acquisition of 40,846 shares via derivative conversion (code M) and a simultaneous disposition of 40,846 shares reported at $0.00 (no cash proceeds).

Key Details

• Transaction date: June 5, 2026; Form 4 filed June 9, 2026 (filed within the normal two-business-day window).
• Reported transactions: 40,846 shares acquired via derivative conversion (code M) and 40,846 shares disposed at $0.00.
• Price / value: $0.00 reported for the disposition; no cash proceeds are shown.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes:
  • F1: RSUs convert into common stock on a one-for-one basis.
  • F2: The RSUs were granted on June 5, 2025 under the company’s omnibus plan and vested in full on the first anniversary (i.e., June 5, 2026).
• Note on the $0 disposition: The filing reports a simultaneous disposal at $0.00; the form does not state the reason. This pattern is commonly used to reflect shares issued and then withheld to satisfy taxes or administrative requirements, but the filing itself does not spell out the mechanics.

Context

This was not a market purchase or sale for cash; it reflects RSU vesting and conversion into common shares. Such award vesting is routine compensation for insiders and does not, by itself, signal a buy or sell decision in the open market.