Chief Executive Officer Serrano Jason T converted options into 159,948 shares and covered exercise/tax liability with 85,235 shares, increasing direct ownership by 23% to 395,541 units (SEC Form 4)
$ADAM
Computer Software: Prepackaged Software
Technology
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
ADAMAS TRUST, INC. [ ADAM ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 01/01/2026 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock, par value $0.01 per share | 01/01/2026 | M(1) | 34,179 | A | $0(2) | 355,007 | D | |||
| Common Stock, par value $0.01 per share | 01/01/2026 | F(3) | 19,140 | D | $7.3 | 335,867 | D | |||
| Common Stock, par value $0.01 per share | 01/01/2026 | M(4) | 41,032 | A | $0(2) | 376,899 | D | |||
| Common Stock, par value $0.01 per share | 01/01/2026 | F(5) | 21,455 | D | $7.3 | 355,444 | D | |||
| Common Stock, par value $0.01 per share | 01/01/2026 | M(6) | 84,737 | A | $0(2) | 440,181 | D | |||
| Common Stock, par value $0.01 per share | 01/01/2026 | F(7) | 44,640 | D | $7.3 | 395,541 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units | $0(2) | 01/01/2026 | M(8) | 34,179 | (8) | (8) | Common Stock, par value $0.01 per share | 34,179 | $0 | 336,274 | D | ||||
| Restricted Stock Units | $0(2) | 01/01/2026 | M(9) | 41,032 | (9) | (9) | Common Stock, par value $0.01 per share | 41,032 | $0 | 295,242 | D | ||||
| Restricted Stock Units | $0(2) | 01/01/2026 | M(10) | 84,737 | (10) | (10) | Common Stock, par value $0.01 per share | 84,737 | $0 | 210,505 | D | ||||
| Explanation of Responses: |
| 1. Shares acquired pursuant to the settlement of restricted stock units ("RSUs") granted to the Reporting Person in April 2023. |
| 2. Each RSU is the economic equivalent of one share of common stock of Adamas Trust, Inc. ("Adamas"). Each RSU was settled in one share of common stock of Adamas. |
| 3. Surrendered to satisfy tax liability incident to the settlement of RSUs described in Note 1 above. |
| 4. Shares acquired pursuant to the settlement of RSUs granted to the Reporting Person in April 2024. |
| 5. Surrendered to satisfy tax liability incident to the settlement of RSUs described in Note 4 above. |
| 6. Shares acquired pursuant to the settlement of RSUs granted to the Reporting Person in January 2025. |
| 7. Surrendered to satisfy tax liability incident to the settlement of RSUs described in Note 6 above. |
| 8. On April 25, 2023, the Reporting Person was granted 102,539 RSUs, vesting in three equal annual installments beginning on January 1, 2024. |
| 9. On April 10, 2024, the Reporting Person was granted 123,095 RSUs, vesting in three equal annual installments beginning on January 1, 2025. |
| 10. On January 23, 2025, the Reporting Person was granted 254,211 RSUs, vesting in three equal annual installments beginning on January 1, 2026. |
| Remarks: |
| /s/ Kristine R. Nario-Eng, as attorney-in-fact | 01/02/2026 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||