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Jason T. Serrano

Chief Executive Officer at NYMT
Board
Since January 1, 2022
Age
48 years
Education
Earned a Bachelor of Science degree from Oswego State University.
Tenure
Joined NYMT as President in January 2019, was elected to the Board in March 2019, and promoted to CEO on January 1, 2022.

Also at NYMT

KRN
Kristine R. Nario-Eng
Chief Financial Officer
NM
Nicholas Mah
President

About

Jason T. Serrano is the Chief Executive Officer of New York Mortgage Trust, Inc., demonstrating a broad and rich career in the financial services industry. His tenure at the firm began with his role as President in January 2019, followed by his election to the Board of Directors in March 2019, and culminating in his promotion to CEO on January 1, 2022.

Prior to his leadership at NYMT, he held significant positions across several prominent financial institutions. He served as a Managing Director and later as a Partner at Oak Hill Advisors, where he managed the mortgage investment business, while also contributing to the success of The Blackstone Group, Fortress Investment Group, and Moody’s in senior roles.

His professional journey reflects a solid blend of strategic leadership and operational expertise, enhanced by his academic foundation. This background has enabled him to navigate complex financial challenges and drive growth at NYMT, positioning him as a seasoned industry leader.

$NYMT Performance Under Jason T. Serrano

Past Roles

OrganizationRoleDate RangeDetails
New York Mortgage Trust, Inc. (NYMT) President January 2019 - December 31, 2022 Served as President before becoming CEO
Oak Hill Advisors, L.P. (OHA) Partner January 2014 - December 2018 Ran the mortgage investment business
Oak Hill Advisors, L.P. (OHA) Managing Director April 2008 - December 2013 Held prior to promotion to Partner
The Blackstone Group Principal N/A Led the structured finance investment team
Fortress Investment Group Vice President N/A Assisted in managing $2 billion of distressed structured products and whole‐loan portfolios
Moody's Rating Analyst N/A Rated collateralized debt obligations and derivatives

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Base Salary (2023)$875,000 AnnuallyFixed base salary
Dividends on Outstanding and Unvested Restricted Stock (2023)$104,475 As declaredDividends declared on unvested restricted stock
Settlement of Vested DERs (2023)$460,864 Upon settlementCompensation for settled vested DERs

Performance Compensation

Data from  FY 2023

2023 Annual Incentive Plan Overview

ComponentWeightPerformance Metrics/ThresholdsTarget/ResultAdditional Details
Quantitative Component75%Absolute Adjusted TER: 4% to 14% No guaranteed payoutBased on financial performance metrics; no minimum award provided
Relative Adjusted TER: 25% to 75%
Qualitative Component25%Based on leadership, retention, portfolio progress,$1,093,750 cash earned Earned as 50% of the target bonus of $2,187,500; rewards individual strategic contributions

Additional Details

  • Evaluation Period: 2023.
  • Vesting of Equity Awards: For example, Restricted Stock Units (RSUs) vest in three equal installments on January 1, 2024, January 1, 2025, and January 1, 2026.
  • Grant Date: April 25, 2023, for the performance stock components.
  • Performance Metrics Methodology: The quantitative awards are tied to financial measures with hurdle rates, while the qualitative awards are based on subjective performance metrics.
  • No Payout for Quantitative Component: In 2023, no incentive compensation was earned under the quantitative performance component.