Business Context and Reporting Period
This Form 8-K is a current report filed by New York Mortgage Trust, Inc. (noted as ADAMAS TRUST, INC. in metadata) on June 14, 2021. The filing documents events occurring at the Company's 2021 Annual Meeting of Stockholders held on the same date. The Company is a Maryland corporation with securities traded on the NASDAQ Stock Market.
Key Financial Metrics
This filing does not contain audited financial statements, revenue, profit, cash flow, or debt metrics. The only financial data disclosed relates to dividend declarations:
- Common Stock: A regular quarterly cash dividend was declared for the quarter ending June 30, 2021. The specific dividend amount per share is not stated in this text.
- Preferred Stock: Cash dividends were declared for the 7.75% Series B, 7.875% Series C, 8.00% Series D, and 7.875% Series E Cumulative Redeemable Preferred Stock for the period April 15, 2021, to July 14, 2021.
Material Changes and Corporate Actions
The filing reports the following material corporate actions approved by stockholders:
- Equity Plan Amendment: Stockholders approved the Second Amendment to the 2017 Equity Incentive Plan, increasing the number of shares available for issuance by 30,000,000. The total maximum shares available under the plan is now 43,170,000.
- Director Elections: Seven directors were elected to the Board of Directors. All nominees received majority support.
- Executive Compensation: Stockholders approved, on an advisory basis, the compensation of the named executive officers ("say-on-pay").
- Auditor Ratification: Grant Thornton LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2021.
Outlook, Risks, and Management Commentary
The filing contains no forward-looking guidance, risk factors, or management commentary regarding future business performance. The document strictly reports the results of the Annual Meeting and the declaration of dividends. The filing references a press release (Exhibit 99.1) for further details on the dividend declaration, but the text of the press release is not included in the source data.
Investor Verification Checklist
- Verify the specific dividend amount per share for the common stock and preferred stock series by reviewing the referenced Press Release (Exhibit 99.1).
- Confirm the record date and payment date for the declared dividends, which are not specified in this text.
- Review the full text of the Second Amendment to the 2017 Equity Incentive Plan (Exhibit 10.1) to understand the specific terms of the increased share pool.
- Check the Definitive Proxy Statement on Schedule 14A filed on April 28, 2021, for detailed background on the equity plan amendment and director nominees.