16. Stockholders’ Equity

During the six months ended June 30, 2016, our board of directors declared the following dividends:


Declare Date	Record Date	Ex-Dividend Date	Payment Date	Amount		Frequency
5/9/16	6/30/16	6/28/16	7/15/16	$	0.48	Quarterly
2/25/16	3/31/16	3/29/16	4/15/16	$	0.48	Quarterly

During the six months ended June 30, 2016, there were no shares issued under our At-The-Market Equity Offering Sales Agreement (the “ATM Agreement”). During the six months ended June 30, 2016, shares issued under the Starwood Property Trust, Inc. Dividend Reinvestment and Direct Stock Purchase Plan (the “DRIP Plan”) were not material.

There were no share repurchases during the three months ended June 30, 2016. During the six months ended June 30, 2016, we repurchased 1,052,889 shares of common stock for $19.7 million under our $500.0 million repurchase program. Refer to Note 17 to the consolidated financial statements included in our Form 10-K for further information regarding the repurchase program. As of June 30, 2016, we have $282.1 million of remaining capacity to repurchase common stock or Convertible Notes under the repurchase program through January 2017.

Equity Incentive Plans

The Company currently maintains the Manager Equity Plan, the Starwood Property Trust, Inc. Equity Plan (the “Equity Plan”), and the Starwood Property Trust, Inc. Non-Executive Director Stock Plan (“Non-Executive Director Stock Plan”). Refer to Note 17 to the consolidated financial statements included in our Form 10-K for further information regarding these plans.

The table below summarizes our share awards granted or vested under the Manager Equity Plan during the six months ended June 30, 2016 and 2015 (dollars in thousands):


Grant Date	Type	Amount Granted	Grant Date Fair Value		Vesting Period
May 2015	RSU	675,000	$	16,511	3 years
January 2014	RSU	489,281		14,776	3 years
January 2014	RSU	2,000,000		55,420	3 years

As of June 30, 2016, there were 2.3 million shares available for future grants under the Manager Equity Plan, the Equity Plan and the Non-Executive Director Stock Plan.

Schedule of Non-Vested Shares and Share Equivalents


	Non-Executive				Weighted Average
	Director		Manager		Grant Date Fair Value
	Stock Plan	Equity Plan	Equity Plan	Total	(per share)
Balance as of January 1, 2016	16,988	548,378	1,302,850	1,868,216	$	25.84
Granted	3,776	430,014	—	433,790		18.96
Vested	—	(261,420)	(510,800)	(772,220)		26.08
Forfeited	—	(21,796)	—	(21,796)		23.45
Balance as of June 30, 2016	20,764	695,176	792,050	1,507,990		23.77