Granite Point Mortgage Trust Files 8-K

TL;DR

GPMT filed an 8-K detailing leadership changes and compensation. Stay tuned for details.

AI Summary

Granite Point Mortgage Trust Inc. filed an 8-K on January 7, 2025, reporting on the departure of directors, election of directors, appointment of officers, and compensatory arrangements. The filing also includes Regulation FD disclosures and financial statements/exhibits.

Why It Matters

This filing provides updates on the company's leadership and executive compensation, which can impact investor confidence and strategic direction.

Risk Assessment

Risk Level: low — The filing is routine and reports on corporate governance and executive matters, not immediate financial distress.

Key Players & Entities

• Granite Point Mortgage Trust Inc. (company) — Registrant
• January 7, 2025 (date) — Date of Report

FAQ

Key Financial Figures

• $0.01 — h registered: Common Stock, par value $0.01 per share GPMT NYSE 7.00% Series
• $500,000 — eceive an initial annual base salary of $500,000. He will be eligible to receive an annu
• $250,000 — be eligible to receive a cash bonus of $250,000 for 2024, up to $175,000 for 2025, up t
• $175,000 — cash bonus of $250,000 for 2024, up to $175,000 for 2025, up to $100,000 for 2026, and
• $100,000 — or 2024, up to $175,000 for 2025, up to $100,000 for 2026, and up to $50,000 for 2027. M
• $50,000 — 025, up to $100,000 for 2026, and up to $50,000 for 2027. Mr. Plust is no longer eligib

Filing Documents

• tm251866d1_8k.htm (8-K) — 38KB
• tm251866d1_ex10-1.htm (EX-10.1) — 116KB
• tm251866d1_ex10-2.htm (EX-10.2) — 105KB
• tm251866d1_ex99-1.htm (EX-99.1) — 11KB
• tm2518666d1_ex99-1img01.jpg (GRAPHIC) — 16KB
• 0001104659-25-001571.txt ( ) — 574KB
• gpmt-20250107.xsd (EX-101.SCH) — 4KB
• gpmt-20250107_def.xml (EX-101.DEF) — 27KB
• gpmt-20250107_lab.xml (EX-101.LAB) — 36KB
• gpmt-20250107_pre.xml (EX-101.PRE) — 25KB
• tm251866d1_8k_htm.xml (XML) — 6KB

02 Departure of Directors or Certain Officers; Election of

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 7, 2025, Granite Point Mortgage Trust Inc. (the " Company ") announced an upcoming transition in its Chief Operating Officer role. Steven Plust will resign from his role as Vice President, Chief Operating Officer of the Company no later than May 1, 2025, and he will continue his employment with the Company as Senior Managing Director for a term that will end no later than December 31, 2027. The Company entered into an amended and restated employment agreement with Mr. Plust on January 7, 2025 (the " Amended Plust Agreement "), which amends and restates the terms of that certain employment agreement dated as of October 4, 2020 (the " Original Plust Agreement "), and sets forth the terms of Mr. Plust's employment before and after his resignation as Chief Operating Officer. In connection with Mr. Plust's upcoming resignation, the Company entered into an employment agreement with Ethan Lebowitz on January 7, 2025 (the " Lebowitz Agreement "). This agreement provides that Mr. Lebowitz will immediately begin serving as Deputy Chief Operating Officer of the Company and will assume the role of Chief Operating Officer of the Company on May 1, 2025, or such earlier date as Mr. Plust resigns from his role as Chief Operating Officer. Mr. Lebowitz, age 46, has been with the Company since inception, most recently serving as a Managing Director focused on sourcing, originating and overseeing commercial mortgage loans. From 2010 to 2015, he was a Vice President in Prudential Real Estate Investors' Global Real Estate Finance Group and from 2005 to 2010, Mr. Lebowitz was an Associate Director at Five Mile Capital Partners. Prior to that, Mr. Lebowitz served as a member of the Mergers and Acquisitions group at Banc of America Securities, as well as the Business Development and Strategy group at FleetBoston Financial

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. The Company issued a press release on January 7, 2025, regarding the transition in the Chief Operating Officer role. A copy of the press release is furnished as Exhibit 99.1 hereto.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 10.1* Employment Agreement, dated January 7, 2025, by and between Granite Point Mortgage Trust Inc. and Ethan Lebowitz. 10.2* Amended and Restated Employment Agreement, dated January 7, 2025, by and between Granite Point Mortgage Trust Inc. and Steven Plust. 99.1 Press Release of Granite Point Mortgage Trust Inc., dated January 7, 2025. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) *Certain schedules and similar attachments have been omitted in reliance on Instruction 4 of Item 1.01 of Form 8-K and Item 601(a)(5) of Regulation S-K. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 7, 2025 GRANITE POINT MORTGAGE TRUST INC. By: /s/ MICHAEL J. KARBER Michael J. Karber General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR