Minami’s current holdings also include 6,655 shares of unvested restricted stock, which are set to vest on May 15, 2025, provided he continues his service with the company through that date. The transaction was officially documented on August 26, with David Gordon signing off as attorney-in-fact for Minami.
The Atlanta-based real estate investment trust, focused on non-qualified mortgage (non-QMs) assets, has been showing strong growth in recent months.
The company reported an increase in net interest income and successfully led a $300 million securitization deal in its latest earnings call. Angel Oak Mortgage REIT also filed a $750 million shelf for future capital raises and closed a $50 million senior unsecured notes issuance.
While Angel Oak’s GAAP book value has decreased, it is expected to benefit from favorable rate and spread movements. The REIT has also declared a $0.32 per share common dividend and plans to deploy capital into high-quality non-QM loans.
Read next: Angel Oak Mortgage Solutions announces internal promotions
Source: mpamag.com