secwatch.observer — SEC 8-K summary
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Issuer:     ADAMAS TRUST, INC. (ADAM)
CIK:        0001273685
Form:       8-K
Filed at:   2021-12-23T23:59:59+00:00
Accession:  0001273685-21-000104
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1273685/000127368521000104/0001273685-21-000104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1273685/000127368521000104/nymt-20211222.htm
  HTML page:      https://secwatch.observer/filing/0001273685-21-000104

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer