Company: ADAMM
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001273685-25-000038
Chunk: 84

Company: ADAMAS TRUST, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 84
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 74 |

(6) The PSU awards granted during the year ended December 31, 2024, may be earned (or not) based upon our three-year TSR performance as measured against the identified performance peer group of comparable companies for a performance period that commenced on January 1, 2024 and ends on December 31, 2026. Pursuant to these PSU awards, our NEOs are eligible to receive threshold, target and maximum payouts of 50%, 100% and 200%, respectively, of the respective target amount of PSUs awarded. In order to achieve threshold, target and maximum payouts under the PSUs, our TSR performance relative to the identified performance peer group over the performance period must rank at or above the 25th percentile, 55th percentile or 75th percentile, respectively. If our TSR over the performance period ranks below the threshold performance level, all of the PSUs will be forfeited.

#### Outstanding Equity Awards at Fiscal Year End
The following table provides information about outstanding equity awards of our NEOs as of December 31, 2024.

|                       | Named Executive Officer |     |    Number of Shares or 
    Units of Stock That 
 Have Not Vested(1) (4) |     |   | Market Value of Shares or Units of Stock That Have Not Vested(2) |     |     | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested(3) (4) |     |   | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested(2) |
|:----------------------|:------------------------|:----|-----------------------:|:----|:--|-----------------------------------------------------------------:|:----|:----|-----------------------------------------------------------------------------------------------------------:|:----|:--|-----------------------------------------------------------------------------------------------------------------------:|
| Jason T. Serrano      |                         |     |                240,417 |     | $ |                                                        1,456,927 |     |     |                                                                                                    338,450 |     | $ |                                                                                                              2,051,007 |
| Nicholas Mah          |                         |     |                172,413 |     | $ |                                                        1,044,823 |     |     |                                                                                                    254,412 |     | $ |                                                                                                              1,541,737 |
| Kristine R. Nario-Eng |                         |     |