X0306 4 2016-02-10 0 0001000298 IMPAC MORTGAGE HOLDINGS INC IMH 0001576118 RHP Trust, dated May 31, 2011 2532 DUPONT DRIVE IRVINE CA 92612 0 0 1 0 Common Stock 2016-02-10 4 C 0 524138 10.875 A 1760465 D Convertible Promissory Note Due 2018 10.875 2016-02-10 4 C 0 5700000.00 D Common Stock 524138 0.00 D Convertible Promissory Note Due 2020 21.50 2016-01-02 2020-05-09 Common Stock 639535 13750000.00 D On April 30, 2013, Reporting Person purchased a Convertible Promissory Note Due 2018 (the "Note") in the original principal amount of $5,700,000 that was convertible by Reporting Person immediately upon receipt and, upon conversion of the original principal amount prior to maturity at the initial conversion price of $10.875 per share (subject to adjustment in the event of stock splits, stock dividends and reclassifications), Reporting Person was to receive 524,138 shares of common stock (subject to adjustment in the event of stock splits, stock dividends and reclassifications). On January 25, 2016, Impac Mortgage Holdings, Inc. ("IMH") provided notice to Reporting Person that IMH was exercising its right pursuant to the terms of the Note to convert the entire principal balance of the Note into an aggregate of 524,138 shares of IMH's Common Stock, par value $0.01 per share, which conversion was effective as of February 10, 2016. As previously reported on a Form 4 filed by Reporting Person on May 11, 2015, on May 8, 2015, Reporting Person purchased a Convertible Promissory Note Due 2020 in the original principal amount of $13,750,000 that is convertible by Reporting Person at any time after January 1, 2016, and, upon conversion of the original principal amount prior to maturity at the initial conversion price of $21.50 per share (subject to adjustment in the event of stock splits, stock dividends and reclassifications), Reporting Person will receive 639,535 shares of common stock (subject to adjustment in the event of stock splits, stock dividends and reclassifications). The Convertible Promissory Note Due 2020 is due and payable, to the extent not converted, on or before May 9, 2020. /s/ Richard H. Pickup, Trustee 2016-02-11