Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 146

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 146
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dollar amounts in thousands):Class of Preferred StockShares AuthorizedShares Issued and OutstandingCarrying ValueLiquidation PreferenceContractual Rate (1)Optional Redemption Date (2)Fixed-to-Floating Rate Conversion Date (1)(3)Floating Annual Rate (4) (5)Fixed-to-Floating RateSeries D8,400,000 6,107,318 $147,745 $152,683 8.000 %October 15, 2027October 15, 20273M LIBOR + 5.695%Series E9,900,000 7,343,151 177,697 183,579 7.875 %January 15, 2025January 15, 20253M LIBOR + 6.429%Series F7,750,000 5,740,209 138,418 143,505 6.875 %October 15, 2026October 15, 20263M SOFR + 6.130%Fixed RateSeries G5,450,000 2,973,736 71,585 74,343 7.000 %January 15, 2027Total31,500,000 22,164,414 $535,445 $554,110 (1)The Company's fixed rate preferred stock is entitled to receive a dividend at the contractual rate shown, per year on its $25 liquidation preference.  Each series of fixed-to-floating rate preferred stock is entitled to receive a dividend at the contractual rate shown, respectively, per year on its $25 liquidation preference up to, but excluding, the fixed-to-floating rate conversion date.(2)Each series of Preferred Stock is not redeemable by the Company prior to the respective optional redemption date disclosed except under circumstances intended to preserve the Company’s qualification as a REIT and except upon occurrence of a Change in Control (as defined in the Articles Supplementary designating the Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock and Series G Preferred Stock, respectively). (3)Beginning on the respective fixed-to-floating rate conversion date, each of the Series D Preferred Stock, Series E Preferred Stock and Series F Preferred Stock is entitled to receive a dividend on a floating rate basis according to the terms disclosed in footnotes (4) and (5) below.

F-76

(4)Prior to July 2023, on and after the fixed-to-floating rate conversion date,