Palame David A 4

What Happened

• David A. Palame, General Counsel, Secretary and Executive Vice President of BrightSpire Capital (BRSP), was granted a total of 165,527 shares of Class A common stock on March 16, 2026 (two awards: 87,934 and 77,593 shares).
• On the same date, 81,376 shares were withheld by the company to satisfy tax withholding obligations at an implied value of $5.54 per share, a withholding of approximately $450,823.
• These actions are compensation-related (awards and tax withholding), not open-market purchases or voluntary sales.

Key Details

• Transaction date: March 16, 2026; Form filed March 18, 2026.
• Awards: 87,934 shares (grant that vests annually in three equal installments — see footnote) and 77,593 shares (settlement of 2023 performance RSUs). Total awarded = 165,527 shares.
• Withheld for taxes: 81,376 shares at $5.54/share = $450,823 (code F — shares withheld to satisfy tax liability).
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 = portion vests annually in three equal installments (Mar 15, 2027/2028/2029). F2 = settlement of 2023 performance RSUs earned for period ending Mar 6, 2026. F3 = shares withheld for tax withholding.
• Filing timeliness: Reported two days after the transaction date; no late-filing flag shown in the provided data.

Context

• This was a compensation award (receipt of restricted/earned shares) with an internal tax-withholding action—not an open-market sale. Withholding of shares to cover taxes is routine and does not necessarily signal insider sentiment about the stock.
• For retail investors, awards increase insider ownership over time as they vest, but withheld shares reduce the immediate net increase.