Company: ADAMM
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001273685-25-000038
Chunk: 42

Company: ADAMAS TRUST, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 42
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, our directors can elect to defer settlement of vested stock awards to the date of a Change in Control (as defined in the applicable award agreement), the third anniversary of the grant date, or the earliest to occur of either a Change in Control or the third anniversary of the grant date. The vested DSUs continue to receive DERs until such DSUs are settled in actual shares of common stock.

Additionally, under our director compensation program, an independent director has the option to elect to receive all or any portion of the value of his or her cash retainer in shares of common stock. During 2024, Mr. Serrano, our Chief Executive Officer, only received compensation for his services as our officer and received no additional compensation for his service on our Board of Directors. All compensation provided to Mr. Serrano with respect to the 2024 year is reflected within the Summary Compensation Table below. Our directors have been, and will continue to be, reimbursed by us for reasonable out-of-pocket expenses incurred in connection with their service on our Board of Directors and any and all committees thereof.

The following table presents information relating to the total compensation of our directors for the fiscal year ended December 31, 2024.

| Name                |     | Fees Earned 
 or Paid in  
 Cash        |         |     | Stock Awards(1) (2) |         |     | Total |         |
|:--------------------|:----|:------------|--------:|:----|:--------------------|--------:|:----|:------|--------:|
| Steven R. Mumma     |     | $           | 120,000 |     | $                   | 120,000 |     | $     | 240,000 |
| Eugenia R. Cheng    |     | $           | 120,000 |     | $                   | 120,000 |     | $     | 240,000 |
| Michael B. Clement  |     | $           | 120,000 |     | $                   | 120,000 |     | $     | 240,000 |
| Audrey E. Greenberg |     | $           | 120,000 |     | $                   | 120,000 |     | $     | 240,000 |
| Steven G. Norcutt   |     | $           | 120,000 |     | $                   | 120,000 |     | $     | 240,000 |
| Lisa A. Penderg