X0306 4 2017-08-10 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 2017-08-10 4 P 0 6319 13.9783 A 2360465 D Convertible Promissory Note Due 2020 21.50 2016-01-02 2020-05-09 Common Stock 639535 13750000 D This transaction was executed in multiple trades at prices ranging from $13.855 to $14.00; the price reported above reflects the weighted average purchase price. Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which these trades were effected upon request to the SEC staff, the issuer, or a security holder of the issuer. 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. This is a late filing with respect to the transaction reported in Table I dated August 10, 2017; pursuant to the General Instructions of Form 4, a Form 4 relating to such transaction should have been filed within two business days following the date of such transaction. /s/ Richard H. Pickup, Trustee 2017-08-14