Mazzei Michael 4

What Happened

• Michael Mazzei, CEO and director of BrightSpire Capital, received three equity awards on 2026-03-16 totaling 816,713 shares of Class A common stock (grants reported at $0.00). On the same date, 260,381 shares were withheld/disposed to satisfy tax withholding at $5.54 per share (cash value reported as $1,442,511). The awards include stock issued in settlement of 2023 performance RSUs and stock-in-lieu of cash for the 2025 annual incentive plan.

Key Details

• Transaction date: 2026-03-16; Form 4 filed 2026-03-18 (appears timely).
• Grants: 307,040 + 270,759 + 238,914 = 816,713 shares (reported as acquisitions, code A) at $0.00.
• Tax withholding: 260,381 shares withheld/disposed (code F) at $5.54/share = $1,442,511.
• Vesting schedule: Most grants vest in three equal annual installments on March 15, 2027, 2028 and 2029 per footnotes; some shares represent settlement of 2023 PRSUs earned for the period ending March 6, 2026.
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• Footnotes indicate the withheld shares satisfied tax withholding related to vesting (routine), not an open-market sale.

Context

• These transactions are award grants and tax withholding on vesting—common compensation mechanics for executives. The withheld 260,381 shares were used to cover tax obligations (cashless/withholding-like treatment), which is routine and does not necessarily signal a deliberate market sale. Grants vest over future years, so the awards are subject to service/performance-based vesting.