Starwood Property Trust Inc 2024年度报告

FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or For the transition period from to Commission file number 001-34436Starwood Property Trust, Inc.(Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of the Act: New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of theSecurities Act. Yes☐No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d)of the Act. Yes☐No☐ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☐No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to be submitted pursuant to Rule 405 of Regulation S-T (§232.405) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files). Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “largeaccelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 ofthe Exchange Act. Large accelerated filer☐ Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standards provided pursuant toSection 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’sassessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatements of the registrant included in the filing reflect the correction of an error to previously issued financialstatements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recoveryanalysis of incentive-based compensation received by any of the registrant’s executive officers during the relevantrecovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☐ As of June 30, 2024, the aggregate market value of the voting stock held by non-affiliates was $5.6 billionbased on the reported last sale price of our common stock on June 28, 2024. Shares of our common stock held byaffiliates, which includes officers and directors of the registrant, have been excluded from this calculation. Thiscalculation does not reflect a determination that persons are affiliates for any other purposes. The number of shares of the issuer’s common stock, $0.01 par value, outstanding as of February 21, 2025was 337,423,560. DOCUMENTS INCORPORATED BY REFERENCE Documents Incorporated By Reference: The information required by Part III of this Form 10-K, to the extentnot set forth herein or by amendment, is incorporated by reference from the registrant’s definitive proxy statement tobe filed with the Securities and Exchange Commission pursuant to Regulation 14A on or prior to April 30, 2025. Table of Contents TABLE OF CONTENTS Part I6Item 1.Business6Item 1A.Risk Factors17Item 1B.Unresolved Staff Comments53Item 1C.Cybersecurity53Item 2.Properties54Item 3.Legal Proceedings54Item 4.Mine Safety Disclosures54Part II55Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters andIssuer Purchases of Equity Securities55Item 6.[Reserved]56Item 7.Management’s Discussion and Analysis of Financial Condition andResults of Operations57Item 7A.Quantitative and Qualitative Disclosures about Market Risk91Item 8.Financial Statements and Supplementary Data95Item 9.Changes in and Disagreements with Accountants on Accounting andFinancial Disclosure176Item 9A.Controls and Procedures176Item 9B.Other Information176 Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections176Part III177Item 10.Directors, Executive Officers and Corporate Governance177Item 11.Executive Compensation177Item 12.Security Ownership of Certain Beneficial Owners and Management andRelated Stockholder Matters177Item 13.Certain Relationships and Related Transactions, and DirectorIndependence177Item 14