ALPART STEPHEN 4

What Happened

• Stephen Alpart, Chief Investment Officer of Granite Point Mortgage Trust (GPMT), had restricted stock units (RSUs) convert into common shares when they vested. A total of 112,016 RSUs were converted into common stock across vesting events on Feb 27, 2026 and Mar 1, 2026.
• Of those 112,016 shares, 58,719 shares were withheld to cover tax obligations at $1.74 per share (total tax withholding ~ $102,171). The net shares delivered to Alpart were 53,297 shares.
• The filing shows the RSU conversions as derivative exercises with a $0.00 exercise price (i.e., RSUs converting one-for-one to common stock rather than a paid option exercise).

Key Details

• Transaction dates: Feb 27, 2026 and Mar 1, 2026; Form 4 filed on Mar 2, 2026.
• Shares converted (acquired): 46,303 + 23,872 + 41,841 = 112,016 shares.
• Shares withheld for taxes (disposed): 37,360 (2/27) and 21,359 (3/1) = 58,719 shares; withholding price shown $1.74/share; total ≈ $102,171.
• Net shares received by insider: 112,016 − 58,719 = 53,297 shares.
• Footnotes: F1 confirms RSUs convert 1-for-1 to common stock. F2–F4 describe the original RSU grants (grant dates, amounts, and standard 33%/33%/34% vesting schedules).
• Ownership after transaction: the filing did not state total common shares Alpart owns following these conversions (not disclosed in the provided excerpt).
• Timeliness: Form 4 was filed 2026-03-02 reporting events on 2/27 and 3/1/2026. This appears close to the typical two-business-day reporting window; check the EDGAR filing for any late-filing flag if timing is a concern.

Context

• This was not a cash purchase or open-market sale. It was the planned vesting/conversion of RSUs into shares, with shares withheld to satisfy tax withholding (a routine administrative step often called a cashless/withholding settlement).
• Such conversions are standard compensation events and do not alone indicate a bullish or bearish trade decision by the insider. They do increase the insider’s net equity position (here, net +53,297 shares).