AOMR director Michael Fierman buys 38,726 shares

Posted by Ethan Ryder on Sep 28th, 2026

What happened

Michael Fierman, a director and 10% owner, bought 38,726 shares of Angel Oak Mortgage REIT, Inc. (NYSE: AOMR) on 2026-09-25. The Form 4 says he paid $7.50 per share, or about $290,511. The filing codes the trade as P. It says the reported price is a weighted average price.

After the purchase, Fierman reported 105,247 shares. The filing also says Falcons I, LLC holds 315,000 shares of common stock. The sole member of Falcons I, LLC is Angel Oak Asset Management Holdings, LLC, and the sole member of that entity is Angel Oak Companies, LP.

Angel Oak Companies, LP is a wholly-owned subsidiary of Angel Oak Companies, LLC, or AOC. The filing says Fierman is a 20.45% stockholder of AOC through several vehicles. It says he may be deemed the beneficial owner of the Falcons I, LLC shares. It also says he disclaims beneficial ownership except to the extent of his pecuniary interest. The Rule 10b5-1 box is not checked.

Key numbers

Metric	Latest	Source
shares bought	38,726 shares	SEC Form 4
price per share	$7.50 per share	SEC Form 4
total spent	about $290,511	SEC Form 4
shares held after purchase	105,247 shares	SEC Form 4
purchase as share of pre-trade holdings	58.2%	Calculated from SEC Form 4

Why it matters

OptimistFi's case is that AOMR works if its non-QM mortgage niche lets it buy and finance loans at spreads that more than make up for leverage, credit risk, and rate-driven mark swings. This filing is mixed for that case. It adds insider buying, but it does not show any change in those core economics.

The 38,726-share purchase was 58.2% of Fierman's holding before the trade. That matters because the filing tracks ownership, not operating results. It shows the director adding to his stake, not the company improving its spread, credit, leverage, or marks.

An insider buy can matter, but it does not prove better spreads, lower credit risk, less leverage, or calmer marks.

What's next

Later reported results would help if they show the economics behind AOMR's thesis moving the right way. If they do not, this buy remains a one-time ownership signal for now.