Adamas Trust, Inc 8-K, filed Apr 26, 2023
Adamas Trust, Inc. (ADAM)
8-K
2023-04-26
For: 2023-04-26
View Original
Added on
April 05, 2026
About this 8-K
Adamas Trust, Inc filed this 8-K on April 26, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 26, 2023
(Exact name of registrant as specified in its charter)
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(Address and zip code of
principal executive offices)
Registrant’s telephone number, including area code: (212 ) 792-0107
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (§230.405 of this chapter) or Rule 12b-2 under the Exchange Act (§240.12b-2 of this chapter).
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 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 26, 2023, New York Mortgage Trust, Inc. (the “Company”) announced that Nathan R. Reese, the Company’s Chief Operating Officer (“COO”) and Secretary, notified the Company that he was resigning as COO and Secretary of the Company to pursue other opportunities, with his resignation from those roles effective immediately. Mr. Reese’s departure is not due to a conflict or disagreement with the Company or the Company’s operations, policies or procedures. Mr. Reese has agreed to remain at the Company through July 31, 2023, where he will serve as a consultant assisting in the transition of his duties.
In connection with Mr. Reese’s resignation and the transition of his COO duties, Mr. Reese and the Company entered into a Separation and Consulting Agreement, dated April 26, 2023 (the “Agreement”), pursuant to which (i) the Company will continue to pay Mr. Reese’s annualized base salary and Mr. Reese will remain eligible for all employment benefits through July 31, 2023 and, (ii) subject to Mr. Reese’s timely execution and non-revocation of a release (as provided in the Agreement), the Company will (A) provide Mr. Reese with a cash payment equal to $700,000 and (B) pay COBRA insurance premiums for Mr. Reese and his dependents through December 31, 2023.
The foregoing description of the Agreement is qualified in its entirety by the full text of the Agreement.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| NEW YORK MORTGAGE TRUST, INC. | ||||||||
| (Registrant) | ||||||||
| Date: April 26, 2023 | By: | /s/ Kristine R. Nario-Eng | ||||||
| Kristine R. Nario-Eng | ||||||||
| Chief Financial Officer | ||||||||