Barry S. Sternlicht - Jun 30, 2025 Form 4 Insider Report for STARWOOD PROPERTY TRUST, INC. (STWD)

Role: CEO, Chairman of the Board, Director
Signature: /s/ Barry S. Sternlicht
Stock symbol: STWD
Transactions as of: Jun 30, 2025
Transactions value $: $0
Form type: 4
Date filed: 6/30/2025, 04:21 PM
Previous filing: Jun 17, 2025
Next filing: Jul 11, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
STERNLICHT BARRY S	CEO, Chairman of the Board, Director	C/O STARWOOD PROPERTY TRUST, INC., 2340 COLLINS AVENUE, MIAMI BEACH	/s/ Barry S. Sternlicht	2025-06-30	0001034657

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	STWD	Common Stock	Options Exercise		+346K	+12.33%		3.15M	Jun 30, 2025	By controlled entities	F1, F2, F3, F4
holding	STWD	Common Stock						14.2M	Jun 30, 2025	Direct	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	STWD	Restricted Stock Units	Options Exercise	$0	-346K	-15.4%	$0.00	1.9M	Jun 30, 2025	Common Stock	346K		By controlled entities	F1, F2, F4, F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On June 30, 2025, SPT Management, LLC, the issuer's external manager (the "Manager"), acquired 345,833 shares of the issuer's common stock in connection with the vesting of (i) 125,000 of the restricted stock units originally granted to the Manager on November 23, 2022 (the "2022 RSUs"), (ii) 108,333 of the restricted stock units originally granted to the Manager on March 4, 2024 (the "2024 RSUs"), and (iii) 112,500 of the restricted stock units originally granted to the Manager on March 6, 2025 (the "2025 RSUs"), each as an award under the Starwood Property Trust, Inc. 2022 Manager Equity Plan.
F2	The remaining 2022 RSUs, the remaining 2024 RSUs and the remaining 2025 RSUs will vest ratably in quarterly installments through September 30, 2025, December 31, 2026 and December 31, 2027, respectively, in each case subject to the Manager's continued service as the issuer's external manager. As such restricted stock units vest, the awards will be settled in shares of the issuer's common stock promptly, but in no event later than 30 days, following the applicable quarterly vesting dates.
F3	Reflects the transfer of 183,939 shares of the issuer's common stock that were previously held by the Manager and reported as indirectly beneficially owned by Mr. Sternlicht on June 6, 2025, such that they are now directly beneficially owned by Mr. Sternlicht.
F4	Represents shares of the issuer's common stock held by entities directly or indirectly controlled by Mr. Sternlicht, including the Manager, SFIP, LLC and JAWS Capital, LP.
F5	Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.
F6	Represents the 1,500,000 2022 RSUs, the 1,300,000 2024 RSUs and the 1,350,000 2025 RSUs granted to the Manager, less those restricted stock units that have already vested and been converted into shares of the issuer's common stock.