# EDGAR Filing Document

**Accession Number:** 0001465128
**File Stem:** 0001104659-23-031184
**Filing Date:** 2023-3
**Character Count:** 29395
**Document Hash:** 79a93a37ca506873b3e3b2b0469e7a34
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-031184.hdr.sgml**: 20230310

**ACCESSION NUMBER**: 0001104659-23-031184

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230310

**DATE AS OF CHANGE**: 20230310

**EFFECTIVENESS DATE**: 20230310

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STARWOOD PROPERTY TRUST, INC.
- **CENTRAL INDEX KEY:** 0001465128
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 270247747
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270461
- **FILM NUMBER:** 23723969

**BUSINESS ADDRESS:**
- **STREET 1:** C/O STARWOOD CAPITAL GROUP
- **STREET 2:** 591 WEST PUTNAM AVENUE
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** (203) 422-7700

**MAIL ADDRESS:**
- **STREET 1:** C/O STARWOOD CAPITAL GROUP
- **STREET 2:** 591 WEST PUTNAM AVENUE
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

**As filed with the Securities and Exchange Commission on March 10, 2023**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

**STARWOOD PROPERTY TRUST, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Maryland** | **27-0247747** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer<br> Identification Number) |
| **591 West Putnam Avenue**<br> **Greenwich, Connecticut** | **06830** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**Starwood Property Trust, Inc. Employee Stock Purchase Plan**

(Full title of the plan)

**Andrew J. Sossen**

**Chief Operating Officer, Executive Vice President,<br> General Counsel and Chief Compliance Officer**

**Starwood Property Trust, Inc.**

**591 West Putnam Avenue**

**Greenwich, Connecticut 06830**

**(203) 422-7700**

(Name, address and telephone number, including area code, of agent for service)

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer x Accelerated filer ¨ <br> Non-accelerated filer ◻ Smaller reporting company ◻ <br> Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

All information required by Part I to be contained in the prospectus is omitted from this Registration Statement in accordance with the explanatory note to Part I of Form S-8 and Rule 428 under the Securities Act of 1933, as amended (the "Securities Act"). This Registration Statement on Form S-8 is filed by Starwood Property Trust, Inc. (the "Registrant") regarding the Starwood Property Trust, Inc. Employee Stock Purchase Plan. Documents containing the information required by Part I of the Registration Statement will be sent or given to plan participants as specified by Rule 428(b)(1) of the Securities Act.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The Registrant hereby incorporates by reference in this Registration Statement the following documents and information previously filed with the Securities and Exchange Commission (the "Commission"):

&nbsp;&nbsp;&nbsp;&nbsp;(1) [The Registrant's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Commission on March 1, 2023; and](http://www.sec.gov/ix?doc=/Archives/edgar/data/1465128/000162828023005726/stwd-20221231.htm)

&nbsp;&nbsp;&nbsp;&nbsp;(2) The description of the Registrant's common stock contained in the Registrant's [Registration Statement on Form 8-A, filed with the Commission on August 7, 2009](http://www.sec.gov/Archives/edgar/data/1465128/000095012309032014/y02082e8va12b.htm) , as updated by [Exhibit 4.14 to the Registrant's Annual Report on Form 10-K filed February 25, 2020](http://www.sec.gov/Archives/edgar/data/1465128/000155837020001281/ex-4d14.htm) , including any amendment or report for the purpose of updating such description.

All documents subsequently filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended, after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the respective dates of filing of such documents (such documents, and the documents enumerated above, being hereinafter referred to as "Incorporated Documents").

Any statement contained in an Incorporated Document shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed Incorporated Document modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4. Description of Securities**

Not applicable.

**Item 5. Interests of Named Experts and Counsel**

Not applicable.

**Item 6.** **Indemnification of Directors and Officers.**

Maryland law permits a Maryland corporation to include in its charter a provision limiting the liability of its directors and officers to the corporation and its stockholders for money damages except for liability resulting from (1) actual receipt of an improper benefit or profit in money, property or services or (2) active and deliberate dishonesty established by a final judgment as being material to the cause of action. The Registrant's charter contains such a provision that eliminates such liability to the maximum extent permitted by Maryland law.

The Maryland General Corporation Law (the "MGCL") requires a Maryland corporation (unless its charter provides otherwise, which the Registrant's charter does not) to indemnify a director or officer who has been successful, on the merits or otherwise, in the defense of any proceeding to which he is made or threatened to be made a party by reason of his service in that capacity. The MGCL permits a corporation to indemnify its present and former directors and officers, among others, against judgments, penalties, fines, settlements and reasonable expenses actually incurred by them in connection with any proceeding to which they may be made or threatened to be made a party by reason of their service in those or other capacities unless it is established that:

&nbsp;&nbsp;&nbsp;&nbsp;· the act or omission of the director or officer was material to the matter giving rise to the proceeding and (1) was committed
in bad faith or (2) was the result of active and deliberate dishonesty;

&nbsp;&nbsp;&nbsp;&nbsp;· the director or officer actually received an improper personal benefit in money, property or services; or

&nbsp;&nbsp;&nbsp;&nbsp;· in the case of any criminal proceeding, the director or officer had reasonable cause to believe that the act or omission was unlawful.

However, under the MGCL, a Maryland corporation may not indemnify a director or officer in a suit by or in the right of the corporation in which the director or officer was adjudged liable on the basis that personal benefit was improperly received. A court may order indemnification if it determines that the director or officer is fairly and reasonably entitled to indemnification, even though the director or officer did not meet the prescribed standard of conduct or was adjudged liable on the basis that personal benefit was improperly received. However, indemnification for an adverse judgment in a suit by the Registrant or in its right, or for a judgment of liability on the basis that personal benefit was improperly received, is limited to expenses.

In addition, the MGCL permits a corporation to advance reasonable expenses to a director or officer upon the corporation's receipt of:

&nbsp;&nbsp;&nbsp;&nbsp;· a written affirmation by the director or officer of his or her good faith belief that he or she has met the standard of conduct necessary
for indemnification by the corporation; and

&nbsp;&nbsp;&nbsp;&nbsp;· a written undertaking by the director or officer or on the director's or officer's behalf to repay the amount paid or
reimbursed by the corporation if it is ultimately determined that the director or officer did not meet the standard of conduct.

The Registrant's charter authorizes it to obligate itself and the Registrant's bylaws obligate it, to the fullest extent permitted by Maryland law in effect from time to time, to indemnify and, without requiring a preliminary determination of the ultimate entitlement to indemnification, pay or reimburse reasonable expenses in advance of final disposition of a proceeding to:

&nbsp;&nbsp;&nbsp;&nbsp;· any present or former director or officer who is made or threatened to be made a party to the proceeding by reason of his or her service
in that capacity; or

&nbsp;&nbsp;&nbsp;&nbsp;· any individual who, while a director or officer of the Registrant and at its request, serves or has served another corporation, REIT,
partnership, joint venture, trust, employee benefit plan or any other enterprise as a director, officer, partner or trustee of such corporation,
REIT, partnership, joint venture, trust, employee benefit plan or other enterprise and who is made or threatened to be made a party to
the proceeding by reason of his or her service in that capacity.

The Registrant's charter and bylaws also permit the Registrant to indemnify and advance expenses to any person who served a predecessor of the Registrant in any of the capacities described above and to any personnel or agent of the Registrant or a predecessor of the Registrant.

Additionally, the Registrant has entered into indemnification agreements with each of its directors and executive officers that provide for indemnification to the maximum extent permitted by Maryland law.

Insofar as the foregoing provisions permit indemnification of directors, officers or persons controlling the Registrant for liability arising under the Securities Act, the Registrant has been informed that, in the opinion of the Commission, this indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 7. Exemption from Registration Claimed**

Not applicable.

**Item 8.** **Exhibits.**

---

| | |
|:---|:---|
| Exhibit<br> No. | Description |
| [4.1](http://www.sec.gov/Archives/edgar/data/1465128/000095012309063043/c92474exv3w1.htm) | [Articles of Amendment and Restatement of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q filed November 16, 2009)](http://www.sec.gov/Archives/edgar/data/1465128/000095012309063043/c92474exv3w1.htm) |
| [4.2](http://www.sec.gov/Archives/edgar/data/1465128/000155837020002982/ex-3d1.htm) | [Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed March 20, 2020)](http://www.sec.gov/Archives/edgar/data/1465128/000155837020002982/ex-3d1.htm) |
| [4.3](http://www.sec.gov/Archives/edgar/data/1465128/000162828022020835/stwd_ex-101xesppamended.htm) | [Starwood Property Trust, Inc. Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q filed August 4, 2022)](http://www.sec.gov/Archives/edgar/data/1465128/000162828022020835/stwd_ex-101xesppamended.htm) |
| [5.1](tm238992d1_ex5-1.htm) | [Opinion of McDermott Will & Emery LLP, as to the legality of the securities being registered](tm238992d1_ex5-1.htm) |
| [23.1](tm238992d1_ex23-1.htm) | [Consent of Deloitte & Touche LLP](tm238992d1_ex23-1.htm) |
| [23.2](tm238992d1_ex5-1.htm) | [Consent of McDermott Will & Emery LLP (included in the opinion filed as Exhibit 5.1)](tm238992d1_ex5-1.htm) |
| [24.1](#a_001) | [Power of Attorney (included on the signature page to this Registration Statement)](#a_001) |
| [107](tm238992d1_ex-filingfees.htm) | [Calculation of Filing Fee Table](tm238992d1_ex-filingfees.htm) |

---

**Item 9. Undertakings**

(a) The Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of a prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;

*provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of
an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in
the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a
director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication
of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Greenwich, State of Connecticut, on March 10, 2023.

---

| | |
|:---|:---|
| **STARWOOD PROPERTY TRUST, INC.** | **STARWOOD PROPERTY TRUST, INC.** |
| By: | /s/ Rina Paniry |
| Name: | Rina Paniry |
| Title: | Chief Financial Officer, Treasurer, Chief Accounting Officer and Principal Financial Officer |

---

**POWER OF ATTORNEY**

Each person whose signature appears below constitutes and appoints Barry S. Sternlicht, Rina Paniry and Andrew J. Sossen, and each of them acting individually, as his or her attorney-in-fact, for him or her in any and all capacities, to sign any amendments to this Registration Statement, including post-effective amendments, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each attorney-in-fact, or his or her substitute, may do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.

---

| | | |
|:---|:---|:---|
| Signature | Title | Date |
| /s/ Barry S. Sternlicht | Chief Executive Officer and Chairman of the Board of Directors | March 10, 2023 |
| Barry S. Sternlicht | (Principal Executive Officer) |  |
| /s/ Rina Paniry | Chief Financial Officer, Treasurer, Chief Accounting Officer and | March 10, 2023 |
| Rina Paniry | Principal Financial Officer |  |
| /s/ Richard D. Bronson | Lead Director | March 10, 2023 |
| Richard D. Bronson |  |  |
| /s/ Jeffrey G. Dishner | Director | March 10, 2023 |
| Jeffrey G. Dishner |  |  |
| /s/ Camille J. Douglas | Director | March 10, 2023 |
| Camille J. Douglas |  |  |
| /s/ Solomon J. Kumin | Director | March 10, 2023 |
| Solomon J. Kumin |  |  |
| /s/ Fred Perpall | Director | March 10, 2023 |
| Fred Perpall |  |  |
| /s/ Fred S. Ridley | Director | March 10, 2023 |
| Fred S. Ridley |  |  |
| /s/ Strauss Zelnick | Director | March 10, 2023 |
| Strauss Zelnick |  |  |

---

## Exhibit 5.1

**EXHIBIT 5.1**

---

| | |
|:---|:---|
| ![](tm238992d1_ex5-1img001.jpg) | **mwe.com** |

---

March 10, 2023

Starwood Property Trust, Inc.

591 West Putnam Avenue

Greenwich, Connecticut 06830

Re: <u>Registration Statement on Form S-8 (Starwood Property Trust, Inc. Employee Stock Purchase Plan)</u>

Ladies and Gentlemen:

We serve as special Maryland counsel to Starwood Property Trust, Inc., a Maryland corporation (the "<u>Company</u>"), in connection with the registration under the Securities Act of 1933, as amended (the "<u>Act</u>"), of the sale and issuance of 2,000,000 shares (the "<u>Shares</u>") of Common Stock, $0.01 par value per share, of the Company ("<u>Common Stock</u>") under the Starwood Property Trust, Inc. Employee Stock Purchase Plan (the "<u>Plan</u>"), covered by the Registration Statement on Form S-8 filed by the Company with the Securities and Exchange Commission (the "<u>Commission</u>") on the date hereof (the "<u>Registration Statement</u>").

In connection with our representation of the Company, and as a basis for the opinion hereinafter set forth, we have examined originals, or copies certified or otherwise identified to our satisfaction, of the following documents (collectively, the "<u>Documents</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Registration Statement in the form transmitted to the Commission for filing under the Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The charter of the Company (the "<u>Charter</u>"), certified as of a recent date by the State Department of Assessments and Taxation of Maryland (the "<u>SDAT</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Bylaws of the Company, certified as of the date hereof by the Secretary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Resolutions adopted by the Board of Directors of the Company (the "<u>Resolutions</u>") relating to (a) the registration, sale and issuance of the Shares and (b) the approval of the Plan, certified as of the date hereof by the Secretary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Plan, certified as of the date hereof by the Secretary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. A certificate of the SDAT as to the good standing of the Company, dated as of the date hereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. A certificate executed by Andrew J. Sossen, Secretary of the Company, dated as of the date hereof.

In expressing the opinion set forth below, we have assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Each individual executing any of the Documents, whether on behalf of such individual or another person, is legally competent to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Each individual executing any of the Documents on behalf of a party (other than the Company) is duly authorized to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Each of the parties (other than the Company) executing any of the Documents has duly and validly executed and delivered each of the Documents to which such party is a signatory, and such party's obligations (including the Company's) set forth therein are legal, valid and binding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. All Documents submitted to us as originals are authentic. All Documents submitted to us as certified or photostatic copies conform to the original documents. All signatures on all such Documents are genuine. All public records reviewed or relied upon by us or on our behalf are true and complete. All statements and information contained in the Documents are true and complete. There has been no oral or written modification or amendment to the Documents, or waiver of any provision of the Documents, by action or omission of the parties or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Company does not intend to issue certificates representing the Shares. The Company will send in writing to each stockholder of the Company the information required by the Charter and the Bylaws and the information as contemplated by Section 2-210(c) of the Maryland General Corporation Law for any such shares to be issued, on request by a stockholder of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The Shares will not be issued or transferred in violation of any restriction or limitation on transfer or ownership of Equity Stock (as defined in the Charter) contained in Article VII of the Charter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Prior to the issuance of any of the Shares, the Company will have available for issuance, under the Charter, the requisite number of authorized but unissued shares of Common Stock.

Based upon the foregoing, and subject to the assumptions, limitations and qualifications stated herein, it is our opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company is a corporation duly incorporated and existing under and by virtue of the laws of the State of Maryland and is in good standing with the SDAT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Shares have been duly authorized and, when issued and delivered in accordance with the Charter, the Resolutions, the Plan and the applicable grant agreements utilized under the Plan, will be validly issued, fully paid and nonassessable.

The foregoing opinions are limited to the substantive laws of the State of Maryland and we do not express any opinion herein concerning any other law. We express no opinion as to compliance with the securities (or "blue sky") laws of the State of Maryland. The opinions expressed herein are subject to the effect of judicial decisions which may permit the introduction of parol evidence to modify the terms or the interpretation of agreements.

We assume no obligation to supplement this opinion letter if any applicable law changes after the date hereof or if we become aware of any fact that might change the opinions expressed herein after the date hereof.

This opinion is being furnished to you at your request for submission to the Commission as an exhibit to the Registration Statement.

We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement and to the use of the name of our firm therein under the heading "Legal Matters". In giving this consent, we do not admit that we are within the category of persons whose consent is required by Section 7 of the Act.

---

| |
|:---|
| Very truly yours, |
| **/s/ MCDERMOTT WILL & EMERY LLP** |

---

## Exhibit 23.1

**EXHIBIT 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated March 1, 2023, relating to the consolidated financial statements and financial statement schedules of Starwood Property Trust, Inc. and subsidiaries (the "Company"), and the effectiveness of the Company's internal control over financial reporting, appearing in the Annual Report on Form 10-K of the Company for the year ended December 31, 2022.

/s/ Deloitte & Touche LLP

Miami, Florida

March 10, 2023

## Ex-Filing

**EXHIBIT 107**

**Calculation of Filing Fee Table**

**FORM S-8**<br> (Form Type)

**Starwood Property Trust, Inc.**

(Exact name of Registrant as specified in its charter)

**Newly Registered Securities**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security<br> Class<br> Title** | **Fee<br> Calculation<br> Rule** | **Amount<br> Registered(1)** | **Proposed<br> Maximum<br> Offering<br> Price<br> Per Unit(2)** | **Maximum<br> Aggregate<br> Offering Price(2)** | **Fee Rate** | **Amount of<br> Registration <br> Fee(2)** |
| Equity | Common Stock, $0.01 par value per share | Rule 457(c) and Rule 457(h) | 2000000 | $19.465 | $38930000 | .00011020 | $4291 |
| **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | -- | $38930000 | -- | $4291 |
| **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | -- | -- | -- | -- |
| **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | -- | -- | -- | $4291 |

---

(1) Pursuant to Rule 416 of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement also covers such additional and indeterminate number of securities as may become issuable pursuant to the provisions of the plan relating to adjustments for changes resulting from a stock dividend, stock split or similar change.

(2) Estimated solely for the purposes of calculating the registration fee pursuant to Rule 457(h) of the Securities Act, the maximum offering price, per share and in the aggregate, are based upon the average of the high and low prices of the common stock on March 3, 2023 as quoted on the New York Stock Exchange.