A statement of changes in beneficial ownership was filed on October 27, 2026, disclosing that Michael Bradley Smith, a director of TPG RE Finance Trust, Inc. (NYSE:TRTX), acquired 1,524 shares of common stock on October 23, 2026, through deferred stock units issued in lieu of dividends.

Key Highlights

  • Reporting person: Michael Bradley Smith, serving as a director of TPG RE Finance Trust, Inc.
  • Transaction date: October 23, 2026, with the filing submitted on October 27, 2026.
  • Shares acquired: 1,524 shares of common stock, coded as an acquisition (A), at a price of $6.33 per share.
  • Nature of acquisition: Shares represent common stock underlying deferred stock units issued to Mr. Smith in lieu of dividends payable on DSUs he already owned.
  • Post-transaction ownership: Mr. Smith beneficially owned 100,223 shares of common stock directly following the reported transaction.
  • Dividend amount used in calculation: The DSU count was based on a $0.24 per share common stock dividend paid by the issuer on October 23, 2026.

Director Smith's Dividend-Linked DSU Acquisition at TPG RE Finance Trust

According to the filing, TPG RE Finance Trust, Inc. is the issuer, a company whose common stock trades on the New York Stock Exchange under the ticker TRTX. The transaction reported involves deferred stock units, a form of equity compensation frequently used in the real estate finance sector, where TPG RE Finance Trust operates as a commercial real estate mortgage lender originating and managing first mortgage loans and other commercial real estate debt instruments.

The filing discloses that the 1,524 shares acquired by Mr. Smith represent common stock underlying deferred stock units issued in lieu of cash dividends. Specifically, the explanation of responses states that the number of DSUs was calculated by dividing the product of the number of DSUs owned by Mr. Smith that provide for the issuance of DSUs in lieu of cash dividends and the $0.24 per share dollar amount of the common stock dividend paid by the issuer on October 23, 2026, by the closing price of the issuer's common stock as of the record date for that dividend. The transaction was coded "A," indicating an acquisition, and the per-share price is listed as $6.33.

The filing further notes that Matthew Coleman signed the statement on behalf of Mr. Smith pursuant to a power of attorney dated June 26, 2017, which was previously filed with the Securities and Exchange Commission. Following the reported transaction, Mr. Smith's direct beneficial ownership stands at 100,223 shares of common stock, according to the filing.

What Was Disclosed

The filing reports that director Michael Bradley Smith of TPG RE Finance Trust, Inc. acquired 1,524 shares on October 23, 2026, through DSUs issued in lieu of a $0.24 per share dividend, bringing his total direct beneficial ownership to 100,223 shares at a price of $6.33.