Monitor future equity grant activity under the expanded plan for potential dilution. The $0.27 quarterly dividend is stable and in line with expectations. The deferred compensation plan is a retention tool with no immediate cash impact.
Price Chart
Executive Summary
Adamas Trust held its 2026 Annual Meeting on June 11, 2026, where stockholders approved a Third Amendment to the 2017 Equity Incentive Plan, adding 9,000,000 new shares for issuance and extending the plan to 2036. The Board also adopted a new Nonqualified Deferred Compensation Plan and declared a regular quarterly common dividend of $0.27 per share, along with preferred dividends. All seven director nominees were elected, and Grant Thornton LLP was ratified as auditor. These are routine governance and compensation actions with no material financial impact.
Key Facts
- Stockholders approved a 9,000,000 share increase to the 2017 Equity Incentive Plan, bringing total authorized shares to 19,792,500.
- The equity plan was extended to April 23, 2036 (10th anniversary of the amendment effective date).
- Non-employee director annual compensation cap increased to $750,000 (equity + cash).
- A new Nonqualified Deferred Compensation Plan was adopted, allowing executives and directors to defer salary, bonus, fees, and equity awards.
- Regular quarterly common dividend of $0.27 per share declared, payable July 28, 2026 to holders of record June 23, 2026.
- Preferred dividends declared for Series D ($0.50), Series E ($0.6549289), Series F ($0.4296875), and Series G ($0.4375) per share.
- All seven director nominees were elected with strong support (over 52 million votes for each).
- Advisory say-on-pay vote passed with ~93.9% of votes cast in favor.
- Grant Thornton LLP ratified as independent auditor for FY 2026 with ~95.8% of votes cast in favor.
- Lisa A. Pendergast reappointed as Lead Independent Director; Steven R. Mumma reappointed as Chairman.
Financial Impact
No material financial impact. The 9M share increase represents ~13% dilution relative to current outstanding shares (~69.2M), but shares will only be issued over time as awards vest. The $0.27 quarterly common dividend is unchanged from prior quarter.
Risk Factors
- Potential dilution from the 9M additional shares authorized under the equity plan, though issuance will occur over time.
- No material risks identified from this routine governance filing.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001273685-26-000048 |
| Exhibit: exhibit103-adamasxpsudefer.htm | 0001273685-26-000048 |
| Exhibit: exhibit101-adamasxthirdame.htm | 0001273685-26-000048 |
| Document: nymt-20260611.htm | 0001273685-26-000048 |
| Document: adamas-pressreleaseq22026d.htm | 0001273685-26-000048 |
| Document: 0001273685-26-000048-index-headers.html | 0001273685-26-000048 |
| Document: 0001273685-26-000048-index.html | 0001273685-26-000048 |
| Document: 0001273685-26-000048.txt | 0001273685-26-000048 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | Press Release | $7.53 | awaiting T+20 | — | $7.80 (+3.59%) |
Aug 12, 2026 10w ago | 424B5 | $10.16 $9.15 | ▲ +9.94% | ▲ +8.04% | $7.80 (+23.23%) |
Aug 12, 2026 10w ago | 8-K | $10.16 $9.15 | ▲ +9.94% | ▲ +8.04% | $7.80 (+23.23%) |
Aug 11, 2026 10w ago | Institutional Cluster | $10.16 $9.15 | ▼ −9.94% | ▼ −8.04% | $7.80 (−23.23%) |
Aug 11, 2026 10w ago | 424B5 | $10.23 $9.56 | ▼ −6.55% | ▼ −5.49% | $7.80 (−23.75%) |
Aug 11, 2026 10w ago | 8-K | $10.23 $9.56 | ▼ −6.55% | ▼ −5.49% | $7.80 (−23.75%) |
Jun 12, 2026 19w ago | 8-K | $9.31 $9.19 | ▼ −1.29% | ▼ −3.07% | $7.80 (−16.22%) |
Jun 11, 2026 19w ago | 8-K | $9.31 $9.19 | ▼ −1.29% | ▼ −3.07% | $7.80 (−16.22%) |
Mar 19, 2026 31w ago | Press Release | $7.12 $7.95 | ▲ +11.71% | ▲ +2.39% | $7.80 (+9.60%) |
US Market Status
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