Adamas Trust, Inc. Announces Key Outcomes from 2026 Annual Meeting and Corporate Updates
NEW YORK, June 12, 2026 – Adamas Trust, Inc. (formerly New York Mortgage Trust, Inc.), a real estate investment trust listed on NASDAQ, has released its Form 8-K outlining significant corporate developments, voting outcomes, and board decisions from its 2026 Annual Meeting of Stockholders held on June 11, 2026. This comprehensive update includes key matters that may be of interest to investors and could influence the company’s share value.
Key Highlights and Potential Share Price Movers
- Corporate Name Change: The company has officially changed its name from New York Mortgage Trust, Inc. to Adamas Trust, Inc. The new name is reflected across all legal and trading documents. This rebranding could impact market perception and investor sentiment.
- Board and Governance:
- Lisa A. Pendergast was reappointed as Lead Independent Director.
- Steven R. Mumma was reappointed as Chairman of the Board.
- Dividend Declarations: The Board declared the following dividends:
- Common Stock: A regular quarterly cash dividend for the quarter ending June 30, 2026.
- Preferred Stock: Cash dividends on the 8.00% Series D, 7.875% Series E, 6.875% Series F (all Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock), and 7.000% Series G Cumulative Redeemable Preferred Stock for the period from April 15, 2026 to July 14, 2026.
Dividend payments are a critical factor for income-focused investors and signal ongoing confidence in the company’s cash flow and earnings stability.
- Equity Incentive Plan Amendment Approved:
- The company’s stockholders approved an amendment to the 2017 Equity Incentive Plan. Key changes include:
- Increase in the number of shares available for awards under the plan by 9,000,000 shares to a total of 19,792,500 shares.
- Inclusion of cash compensation in, and increase to \$750,000, the aggregate annual compensation limit for non-employee directors, while removing outdated tax code limitations.
- Extension of the plan’s duration and updates reflecting the company’s name change.
- This amendment enhances the company’s ability to attract and retain key talent, while potentially increasing future share dilution—a factor investors should monitor.
- Advisory Vote on Executive Compensation (“Say-on-Pay”) Approved:
- Stockholders approved, on an advisory basis, the compensation of the company’s named executive officers. This indicates strong shareholder support for management’s pay structure.
- Auditor Ratified:
- Stockholders ratified the selection of Grant Thornton LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2026, further supporting financial transparency and continuity.
- Director Elections:
- All director nominees were duly elected and will serve until the 2027 Annual Meeting or until their successors are duly elected and qualified.
Detailed Voting Results
At the Annual Meeting, approximately 77.04% of the outstanding shares were present or represented by proxy. The voting outcomes for the major proposals are as follows:
- Director Elections: All nominees elected with strong majorities.
- Say-on-Pay: 51.7 million shares voted for, 3.0 million against, ~281,000 abstained, and 14.2 million broker non-votes.
- Equity Incentive Plan Amendment: 51.1 million shares voted for, 3.6 million against, ~300,000 abstained, and 14.2 million broker non-votes.
- Auditor Ratification: 66.5 million for, 2.7 million against, ~44,000 abstained, and 0 broker non-votes.
Potential Investor Implications
- The increase in shares available for equity compensation could have a dilutive effect on existing shareholders if new shares are issued for stock-based awards.
- Continued dividend payouts on both common and preferred shares affirm management’s commitment to return value to shareholders and could support the stock price.
- Rebranding and the name change may impact investor sentiment and market positioning.
- Strong shareholder support for executive compensation and board members suggests stability in management and governance.
- No indication of financial distress or unexpected negative developments was reported.
Exhibits and Further Information
- Press release dated June 11, 2026 (Exhibit 99.1) provides additional details on the board’s decisions and dividend declarations.
- Full texts of the amended equity plan and 2024 PSU deferral election form are available as exhibits to the 8-K filing.
Conclusion
Adamas Trust, Inc.’s 2026 Annual Meeting results indicate ongoing strategic evolution, strong governance, and a proactive approach to compensation and talent retention. The approved equity plan amendment, continued dividends, and board reappointments are all material events that may influence investor confidence and share price performance in the near to medium term.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should review the full Form 8-K and related exhibits, and consult with their financial advisors before making investment decisions. The author and publisher accept no liability for actions taken based on this summary.
