XML 71 R54.htm IDEA: XBRL DOCUMENT
v3.25.4

Stockholders' Equity and Non-Controlling Interests (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Stockholders' Equity Note [Abstract] |
Schedule of Common Stock Issued in Public Offering | We issued common stock in a public offering as follows during the years ended December 31, 2025 and 2024:
|  | Shares issued |  | Price |  | Proceeds
Issuance date |  | (in thousands) |  | per share |  | (in thousands)
July/August 2025 |  | 27,125 |  |  | $ | 19.70 |  |  | $ | 534,363 |
September 2024 |  | 20,125 |  |  | $ | 19.50 |  |  | $ | 392,478 |
Schedule of Dividends Declared by Board of Directors | Our board of directors declared the following dividends during the years ended December 31, 2025, 2024 and 2023:
Declaration Date |  | Record Date |  | Payment Date |  | Amount |  | Frequency
12/12/25 |  | 12/31/25 |  | 1/15/26 |  | $ | 0.48 |  |  | Quarterly
7/16/25 |  | 9/30/25 |  | 10/15/25 |  | 0.48 |  |  | Quarterly
6/11/25 |  | 6/30/25 |  | 7/15/25 |  | 0.48 |  |  | Quarterly
3/13/25 |  | 3/31/25 |  | 4/15/25 |  | 0.48 |  |  | Quarterly
11/1/24 |  | 12/31/24 |  | 1/15/25 |  | 0.48 |  |  | Quarterly
7/24/24 |  | 9/30/24 |  | 10/15/24 |  | 0.48 |  |  | Quarterly
6/13/24 |  | 6/28/24 |  | 7/15/24 |  | 0.48 |  |  | Quarterly
3/15/24 |  | 3/29/24 |  | 4/15/24 |  | 0.48 |  |  | Quarterly
12/15/23 |  | 12/29/23 |  | 1/15/24 |  | 0.48 |  |  | Quarterly
9/15/23 |  | 9/30/23 |  | 10/16/23 |  | 0.48 |  |  | Quarterly
6/15/23 |  | 6/30/23 |  | 7/17/23 |  | 0.48 |  |  | Quarterly
3/16/23 |  | 3/31/23 |  | 4/14/23 |  | 0.48 |  |  | Quarterly
Summary of Share Awards Granted Under the Manager Equity Plan | The table below summarizes our share awards granted or vested under the 2017 and 2022 Manager Equity Plans during the years ended December 31, 2025, 2024 and 2023 (dollar amounts in thousands):
Grant Date |  | Type |  | Amount Granted |  | Grant Date Fair Value |  | Vesting Period
March 2025 |  | RSU |  | 1,350,000 |  |  | $ | 27,081 |  |  | 3 years
March 2024 |  | RSU |  | 1,300,000 |  |  | 26,104 |  |  | 3 years
November 2022 |  | RSU |  | 1,500,000 |  |  | 31,605 |  |  | 3 years
November 2020 |  | RSU |  | 1,800,000 |  |  | 30,078 |  |  | 3 years
Schedule of Common Stock Issued to Manager as Incentive Compensation | The following shares of common stock were issued, without restriction, to our Manager as part of the incentive compensation due under the Management Agreement during the years ended December 31, 2025, 2024 and 2023:
Timing of Issuance |  | Shares of Common Stock Issued |  | Price per share
August 2025 |  | 4,601 |  | $ | 19.88 |
May 2025 |  | 256,932 |  | $ | 19.58 |
February 2025 |  | 318,585 |  | 19.98 |
August 2024 |  | 90,381 |  | 19.42
May 2024 |  | 471,179 |  | 20.25
February 2024 |  | 496,170 |  | 19.68
August 2023 |  | 92,640 |  | 20.59
May 2023 |  | 377,207 |  | 16.39
March 2023 |  | 373,204 |  | 19.38
Schedule of Share-Based Compensation Expenses | The following table summarizes our share-based compensation expenses during the years ended December 31, 2025, 2024 and 2023 (in thousands):
|  | For the Year Ended December 31,
|  | 2025 |  | 2024 |  | 2023
Management fees: |  |  |  |  |  |
Manager incentive fee |  | $ | 6,873 |  |  | $ | 17,662 |  |  | $ | 13,703 |
Manager Equity Plans (1) |  | 25,625 |  |  | 19,261 |  |  | 18,027 |
|  | 32,498 |  | 36,923 |  | 31,730
General and administrative: |  |  |  |  |  |
Equity Plans (1) |  | 28,052 |  | 22,055 |  | 20,761
ESPP |  | 417 |  | 470 |  | 458
|  | 28,469 |  | 22,525 |  | 21,219
Total share-based compensation expense (2) |  | $ | 60,967 |  | $ | 59,448 |  | $ | 52,949
__________________________________________ (1)Share-based compensation expense relating to the 2017 and 2022 Manager Equity Plans is reflected within the Manager Equity Plans line. Share-based compensation expense relating to the 2017 and 2022 Equity Plans is reflected within the Equity Plans line. (2)The income tax benefit associated with the share-based compensation expense for the years ended December 31, 2025, 2024 and 2023 was not material.
Schedule of Non-Vested Shares and Share Equivalents | Schedule of Non-Vested Shares and Share Equivalents (1)
| Equity Plan |  | Manager Equity Plan |  | Total |  | Weighted Average Grant Date Fair Value (per share)
Balance as of January 1, 2025 | 2,645,260 |  |  | 1,241,668 |  |  | 3,886,928 |  |  | $ | 20.46 |
Granted | 2,403,212 |  |  | 1,350,000 |  |  | 3,753,212 |  |  | 20.01 |
Vested | (859,506) |  |  | (1,258,332) |  |  | (2,117,838) |  |  | 20.68 |
Forfeited | (23,185) |  |  | — |  |  | (23,185) |  |  | 20.07 |
Balance as of December 31, 2025 | 4,165,781 |  |  | 1,333,336 |  |  | 5,499,117 |  |  | 20.04 |
__________________________________________ (1)Equity-based award activity for awards granted under the 2017 and 2022 Equity Plans is reflected within the Equity Plan column, and for awards granted under the 2017 and 2022 Manager Equity Plans, within the Manager Equity Plan column.
Schedule of Vesting Schedule |
|  | Equity |  | Manager |  |
|  | Plan |  | Equity Plan |  | Total
2026 |  | 842,712 |  | 883,336 |  | 1,726,048
2027 |  | 1,172,614 |  | 450,000 |  | 1,622,614
2028 |  | 2,150,455 |  | — |  | 2,150,455
Total |  | 4,165,781 |  | 1,333,336 |  | 5,499,117

X
- Definition Schedule of Common Stock Issued to Manager as Incentive Compensation + References No definition available. + Details
Name: | stwd_ScheduleOfCommonStockIssuedToManagerAsIncentiveCompensationTableTextBlock
Namespace Prefix: | stwd_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share awards to manager as part of the incentive compensation due under the Management Agreement. + References No definition available. + Details
Name: | stwd_ScheduleOfShareAwardsGrantedToManagerAsIncentiveCompensationTableTextBlock
Namespace Prefix: | stwd_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Share-based Compensation, Arrangement by Share-based Payment Award, Instruments Other than Options, Vesting in Future + References No definition available. + Details
Name: | stwd_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardInstrumentsOtherThanOptionsVestingInFutureTableTextBlock
Namespace Prefix: | stwd_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to dividends declared, including paid and unpaid dividends. + References No definition available. + Details
Name: | us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of sales of stock or previously unissued stock made by subsidiary or equity method investee to investors outside the consolidated group. This includes stock issued in a business combination in exchange for shares of an acquired entity. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSaleOfStockBySubsidiaryOrEquityMethodInvesteeDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration