NYMT appoints Jason Serrano CEO, Steven Mumma Executive Chairman effective Jan 1, 2022

ADAMAS TRUST, INC.

Mumma becomes Executive Chairman, $600K base salary, 12-month term ending Dec 31, 2022.
Serrano becomes CEO and President, $825K base salary, 2-year term with auto-renewal.
Company reclassified 6M shares of 7.75% Series B preferred stock as undesignated preferred.
Serrano eligible for annual bonus and long-term equity awards; Mumma generally not eligible for new equity in 2022.
Employment agreements include one-year non-compete, severance provisions for without-cause/ good-reason termination.

item 5.02 item 5.03 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Jason T. Serrano

Chief Executive Officer and President

ADAM · ADAMAS TRUST, INC.

Effective: 2022-01-01
Filed: December 23, 2021, 6:59 PM ET

The Employment Agreements adjust the positions, compensation, and other terms of employment for Messrs. Mumma and Serrano to reflect the appointments of Mr. Mumma as Executive Chairman of the Company and Mr. Serrano as Chief Executive Officer and President of the Company, each effective as of January 1, 2022.

Role change

Steven R. Mumma

Executive Chairman

ADAM · ADAMAS TRUST, INC.

Effective: 2022-01-01
Filed: December 23, 2021, 6:59 PM ET

The Employment Agreements adjust the positions, compensation, and other terms of employment for Messrs. Mumma and Serrano to reflect the appointments of Mr. Mumma as Executive Chairman of the Company and Mr. Serrano as Chief Executive Officer and President of the Company, each effective as of January 1, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jason T. Serrano was appointed as Chief Executive Officer and President at ADAMAS TRUST, INC..

Action: appointed
Role: Chief Executive Officer and President

Exact text from the filing

The Employment Agreements adjust the positions, compensation, and other terms of employment for Messrs. Mumma and Serrano to reflect the appointments of Mr. Mumma as Executive Chairman of the Company and Mr. Serrano as Chief Executive Officer and President of the Company, each effective as of January 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steven R. Mumma was appointed as Executive Chairman at ADAMAS TRUST, INC..

Action: appointed
Role: Executive Chairman

Exact text from the filing

The Employment Agreements adjust the positions, compensation, and other terms of employment for Messrs. Mumma and Serrano to reflect the appointments of Mr. Mumma as Executive Chairman of the Company and Mr. Serrano as Chief Executive Officer and President of the Company, each effective as of January 1, 2022.

View on SEC.gov

ADAMAS TRUST, INC. filing history →

Source: SEC EDGAR

accession 0001273685-21-000104

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.