Company: ADAMM
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001273685-25-000038
Chunk: 64

Company: ADAMAS TRUST, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 64
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 on January 1, 2024 and ended on December 31, 2024:

| Absolute Adjusted TER Hurdles |     | Payout as a % of Target Bonus Upon Achievement of Absolute Adjusted TER Hurdles(1) |
| Less than 4%                  |     | —                                                                                  |
| 4%                            |     | 50%                                                                                |
| 9%                            |     | 100%                                                                               |
| 14%                           |     | 200%                                                                               |

(1) For fiscal year 2024, if absolute performance was between the threshold (4%) and target (9%) or between the target (9%) and maximum (14%), the performance level achieved was determined by applying linear interpolation to the performance interval. Actual incentive compensation earned under the Quantitative Component Absolute Hurdles was calculated by multiplying 37.5% by the product of the applicable payout percentage and target bonus.

For the year ended December 31, 2024, our Adjusted TER was (11.9)%. As such, we failed to achieve the threshold Quantitative Component Absolute Hurdle under the 2024 Annual Incentive Plan and thus, no incentive compensation was earned by our NEOs under this portion of the Quantitative Component.

Measuring Relative Performance for Adjusted TER : The ultimate amount of the payout under the Quantitative Component’s relative performance measure is contingent on our attaining relative performance hurdles for Adjusted TER for a performance period that commenced on October 1, 2023 and ran through September 30, 2024 based on the percentile ranking of our Adjusted TER against the Adjusted TER for the same performance period of an identified performance peer group of 18 mortgage REITs (including us) set forth in our 2024 PSU Agreement (“Quantitative Component Relative Hurdles”). See “ Long-Term Equity Incentive Compensation ” for more information regarding the composition of the identified performance peer group.

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The following table sets forth the Quantitative Component Relative Hurdles and corresponding incentive compensation payouts for each of our NEOs under the 2024 Annual Incentive Plan for the applicable performance period:

| Relative Adjusted TER Hurdles |     | Payout as a % of Target Bonus Upon Achievement of Relative Adjusted TER Hurdles(1) |
| Less than 25%                 |     | —                                                                                  |
| 25%                           |     | 50%                                                                                |
| 55%                           |     |