X0303 4 2010-06-15 0 0001344705 Crystal River Capital, Inc. CYRV 0001215403 PAULSEN WILLIAM F C/O CRYSTAL RIVER CAPITAL, INC. 3 WFC, 200 VESEY STREET, 10TH FLOOR NEW YORK NY 10281 1 0 0 0 Common Stock 2010-06-15 4 A 0 19231 A 188371 D Deferred stock units awarded pursuant to the Issuer's 2005 Long-Term Incentive Plan (the "Plan") that are to be settled in common stock ("Common Stock") of Crystal River Capital, Inc. (the "Issuer") on a one-for-one basis in one installment that is issued on the date on which the Reporting Person ceases to be a director of the Issuer. Represents deferred stock units credited to the account of the Reporting Person which convert to shares of Common Stock of the Issuer on a one-for-one basis. The number of shares of Common Stock subject to the deferred stock units credited to the Reporting Person was determined by dividing (1) the quarterly director's fee of $12,500 paid by the Issuer on June 15, 2010 by (2) the closing price of the Common Stock on the Over-the-Counter Market on June 15, 2010 /s/ William F. Paulsen 2010-06-17