FARRELL EDWARD J 4

What Happened

• Edward J. Farrell, a director of Arbor Realty Trust, was granted 15,141 restricted stock units (RSUs) on March 13, 2026. The Form 4 reports the award as a derivative acquisition (code A) at $0.00 because this is a grant of units, not an open-market purchase or sale. The RSUs are fully vested but Farrell elected to defer receipt of the underlying shares.

Key Details

• Transaction date: 2026-03-13; Filing date: 2026-03-17 (Form 4) — filing is within the required two business days.
• Amount: 15,141 RSUs; reported acquisition price: $0.00 (grant).
• Security type: Restricted Stock Units (derivative award that converts into common shares).
• Shares owned following the transaction: Not specified in the filing.
• Footnote: Farrell elected to defer delivery of the common stock into which the RSUs convert until his director service ends or upon a change in control, per a pre-established deferral election.

Context

• This is a compensation award, not a purchase or sale—awards are common for directors and do not necessarily signal buying or selling intent. Because the RSUs are vested but deferred, Farrell will receive (or have distributed) the underlying shares only upon termination of service or a change in control, so there is no immediate share transfer into his brokerage account.