---
schema_version: "secwatch.filing_event.v1"
accession: "0001273685-21-000104"
form_type: "8-K"
ticker: "ADAM"
cik: "0001273685"
company_name: "ADAMAS TRUST, INC."
filed_at: "2021-12-23T23:59:59+00:00"
generated_at: "2026-06-27T22:30:55.856667+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001273685-21-000104
- form_type: 8-K
- ticker: ADAM
- cik: 0001273685
- company_name: ADAMAS TRUST, INC.
- filed_at: 2021-12-23T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1273685/000127368521000104/0001273685-21-000104-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1273685/000127368521000104/nymt-20211222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001273685-21-000104
- JSON: https://secwatch.observer/filing/0001273685-21-000104.json
- Plain text: https://secwatch.observer/filing/0001273685-21-000104.txt

## Key facts
- Executive change
  Jason T. Serrano was appointed as Chief Executive Officer and President at ADAMAS TRUST, INC..
  - Action: appointed
  - Role: Chief Executive Officer and President
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1273685/000127368521000104/0001273685-21-000104-index.htm
- Executive change
  Steven R. Mumma was appointed as Executive Chairman at ADAMAS TRUST, INC..
  - Action: appointed
  - Role: Executive Chairman
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1273685/000127368521000104/0001273685-21-000104-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.