Company: ADAMM
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001273685-25-000038
Chunk: 74

Company: ADAMAS TRUST, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 74
---
Executive Compensation Program Components for 2024 — Annual Incentive Compensation.”

(2) Amounts represent the product of (i) the number of shares of restricted stock issued under the applicable annual incentive plan that vested during 2024 and (ii) the closing sale price of our common stock on Nasdaq on the applicable vesting date.

(3) Amounts represent the product of (i) the number of shares of our common stock issued in settlement of the PSUs earned and vested, if any, or RSUs vested under the applicable Long-Term EIP and NEO employment agreement, as applicable, and (ii) the closing sale price of our common stock on Nasdaq on the applicable vesting date.

(4) Amounts represent dividends paid on unvested restricted common stock and vested DERs settled in cash.

(5) Excludes the value of RSUs (and corresponding DERs) under our long-term EIP that vested on January 1, 2025.

Policies and Practices Related to the Grant of Certain Equity Awards in Relation to the Release of Material Non-Public Information

We do not currently grant stock options or option-like equity awards as part of our executive compensation program; therefore, we do not currently have a formal practice or policy with respect to the grant of option or option-like awards. Grants under our Long-Term EIP are typically made in connection with the annual compensation cycle and are not made when the Company could be in possession of material non-public information. During 2024, we did not time the disclosure of material non-public information to affect the value of other types of executive compensation awards granted to any service provider.

| 68 |

Overview of Executive Officer Compensation Determinations for 2025

Base Salary

The Compensation Committee and our Board of Directors approved the following 2025 base salaries for our executive officers:

| Named Executive Officer |     | Base Salary |         |
|:------------------------|:----|:------------|--------:|
| Jason T. Serrano        |     | $           | 920,000 |
| Nicholas Mah            |     | $           | 720,000 |
| Kristine R. Nario-Eng   |     | $           | 550,000 |

The Compensation Committee determined to increase Mr. Serrano’s base salary by approximately 5% for 2025 for the first time in two years. Similarly, the Compensation Committee increased each of Mr. Mah's and Ms. Nario-Eng's base salary for