Company: ADAMM
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001273685-25-000038
Chunk: 75

Company: ADAMAS TRUST, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 75
---
 2025 by approximately 5%.

2025 Annual Incentive Plan

Our Board of Directors, upon the recommendation of the Compensation Committee, has adopted and approved the 2025 Annual Incentive Plan for fiscal year 2025, which plan design and framework is substantially in the form of the 2024 Annual Incentive Plan, except that (i) the threshold hurdle under the “Absolute TER Measure” will move to 2% with a corresponding decline in the payout percentage to 25% at that level, and (ii) Ms. Nario-Eng’s target bonus amount (expressed as a multiple of base salary) will increase to 1.50x from 1.35x. In moving the threshold hurdle under the Absolute TER Measure to 2% from 4%, the Compensation Committee considered the current significant market volatility and uncertainty and data for similar features at our peer group. In addition, the Compensation Committee also noted that by reducing the payout percentage to 25% at the 2% threshold level, achievement of Absolute TER under the 2025 Annual Incentive Plan at the former threshold of 4% will provide for a lower payout percentage (i.e., below 50%) than under the 2024 Annual Incentive Plan.

The following table sets forth the Quantitative Component Absolute Hurdles and corresponding incentive compensation payouts for each of our NEOs under the 2025 Annual Incentive Plan for the performance period that commenced on January 1, 2025 and ends on December 31, 2025:

| Absolute Adjusted TER Measure Hurdles |     | Payout as a % of Target Bonus Upon Achievement of Absolute Adjusted TER Hurdles(1) |
| Less than 2%                          |     | —                                                                                  |
| 2%                                    |     | 25%                                                                                |
| 9%                                    |     | 100%                                                                               |
| 14%                                   |     | 200%                                                                               |

(1) For fiscal year 2025, if absolute performance is between the threshold (2%) and target (9%) or between the target (9%) and maximum (14%), the performance level achieved will be determined by applying linear interpolation to the performance interval. Actual incentive compensation earned under the Quantitative Component Absolute Hurdles is calculated by multiplying 37.5% by the product of the applicable payout percentage and target bonus.

2025 Long-Term EIP

In January 2025, the Compensation Committee and our Board