Sec Form 4 Filing - REINSCH PHILLIP A @ CAPSTEAD MORTGAGE CORP - 2021-10-19

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person REINSCH PHILLIP A 2. Issuer Name and Ticker or Trading Symbol CAPSTEAD MORTGAGE CORP [ CMO] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) President and Chief Executive (Last) (First) (Middle) 8401 N CENTRAL EXPRESSWAY, SUITE 800 3. Date of Earliest Transaction (MM/DD/YY) 10/19/2021 (Street) DALLAS, TX75225 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 10/19/2021 M 211,359 A 743,593 D Common Stock 10/19/2021 D 743,593 D 0 D 7.50% Series E Cumulative Redeemable Preferred Stock 10/19/2021 D 3,500 D 0 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Restricted Stock Units ( 2 ) 10/19/2021 M 211,359 ( 2 ) ( 2 ) Common Stock 211,359 ( 2 ) 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other REINSCH PHILLIP A 8401 N CENTRAL EXPRESSWAY, SUITE 800 DALLAS, TX75225 X President and Chief Executive Signatures /s/ Lindsey Crabbe for Phillip A. Reinsch 10/21/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On October 19, 2021, pursuant to that certain Agreement and Plan of Merger, dated as of July 25, 2021, and as amended by that certain First Amendment to Agreement and Plan of Merger, dated as of September 22, 2021 (as amended, the "Merger Agreement"), by and among Franklin BSP Realty Trust, Inc. ("FBRT"), Rodeo Sub I, LLC, a wholly owned subsidiary of FBRT ("Merger Sub"), the Issuer and Benefit Street Partners L.L.C., FBRT's external manager ("BSP"), the Issuer merged with and into Merger Sub with Merger Sub surviving as the continuing company (the "Merger"). At the effective time of the Merger, each share of common stock of the Issuer was converted into the right to receive (i) from FBRT, 0.3288 newly-issued shares of common stock, par value $0.01 per share, of FBRT, (ii) from FBRT, $0.21 in cash and (iii) from BSP, $0.73 in cash (the "Per Common Share Merger Consideration"). ( 2 )Pursuant to the Merger Agreement, immediately prior to the effective time of the Merger, each outstanding performance unit held by the reporting person became earned and vested and was converted into one share of common stock of the Issuer that would be entitled to receive the Per Common Share Merger Consideration. ( 3 )Pursuant to the Merger Agreement, at the effective time of the Merger, each such share of Issuer 7.50% Series E Cumulative Redeemable Preferred Stock, $0.10 par value per share, was converted into the right to receive one newly issued share of FBRT 7.50% Series E Cumulative Redeemable Preferred Stock, par value $0.01 per share.

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