Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | TPG RE FINANCE TRUST, INC. |
Entity Central Index Key | 0001630472 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 8 Months Ended | 12 Months Ended | 13 Months Ended | 63 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Apr. 24, 2022 | Mar. 31, 2021 | |
Pay vs Performance Disclosure [Table] | ||||||
Pay vs Performance [Table Text Block] | Pay Versus Performance Disclosure As required by Item 402(v) of Regulation S-K, Pay Versus Performance Table* Year (a) Summary Summary Compensation (9) Compensation (9) Average non-PEO named Average non-PEO (9) Value of initial fixed Total (7) Peer group (7)(8) Net income 2022 $ 1,000,000 (1) $ 3,250,000 (2) $ 363,660 (1) $ 2,891,924 (2) $ 1,055,446 (4) $ 665,110 (4) (63.54 )% (34.49 %) $ (60,066,000 ) 2021 — (3) $ 1,220,000 (1) $ 666,471 (3) $ 1,508,762 (1) $ 900,483 (5) $ 1,092,387 (5) 22.55 % 17.55 % $ 138,550,000 2020 $ 713,510 (3) — $ (2,124,395 ) (3) — $ 498,072 (6) $ 146,195 (6) (62.91 )% (28.11 %) $ (136,826,000 ) * As previously noted, the Summary Compensation Table totals include only the amounts of compensation that we are able to quantify for services rendered to us during the fiscal year. As such, for all PEOs, it includes only the grant date fair value of the equity compensation awards granted by us, while for the non-PEOs, non-PEO ** For years in which more than one individual served as PEO for different portions of the year, this column represents disclosure for the individual who served as PEO as of January 1 of such year. *** For years in which more than one individual served as PEO for different portions of the year, this column represents disclosure for the individual who served as PEO as of December 31 of such year. (1) Represents disclosure for Matt Coleman, who served as our principal executive officer, as defined in Item 402(a)(3) of Regulation S-K (2) Represents disclosure for Doug Bouquard, our PEO since April 25, 2022, and as previously noted, includes for 2022, the value of his one-time sign-on (3) Represents disclosure for Greta Guggenheim, our PEO from January 2016 to March 31, 2021. (4) Non-PEO (5) Non-PEO (6) Non-PEO (7) Represents the cumulative total shareholder return since January 1, 2020. (8) Represents the total shareholder return for the Bloomberg REIT Mortgage Index since January 1, 2020. (9) The amounts reported represent the amounts of “compensation actually paid” to our PEO and “average compensation actually paid” to our other NEOs, as calculated in accordance with Item 402(v) of Regulation S-K. S-K 2022 Adjustments PEO PEO Average Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation table for 2022 $ (1,000,000.00 ) $ (3,250,000.00 ) $ (833,333.33 ) Increase/deduction based on ASC 718 Fair Value of awards granted during 2022 that remain unvested as of year-end $ 939,790.20 $ 2,742,558.96 $ 783,158.50 Increase/deduction for awards granted during prior fiscal years that were outstanding and unvested as of 12/31/2022, determined based on change in ASC 718 Fair Value from 12/31/2021 to 12/31/2022 $ (606,670.50 ) — $ (319,450.40 ) Increase/deduction for awards granted during prior fiscal years that vested during 2022, determined based on change in ASC 718 Fair Value from 12/31/2021 to the vesting date $ (137,988.83 ) — $ (94,602.22 ) Increase based on dividends or other earnings paid during the year prior to the vesting date of an award $ 168,528.96 $ 149,365.44 $ 102,022.32 Total Adjustments $ (636,340.17 ) $ (358,075.60 ) $ (362,205.14 ) Summary Compensation Table Total $ 1,000,000.00 $ 3,250,000.00 $ 1,055,446 Compensation Actually Paid $ 363,659.83 $ 2,891,924.40 $ 665,109.86 2021 Adjustments PEO PEO Average Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation table for 2021 — $ (1,220,000.00 ) $ (716,666.67 ) Increase/deduction based on ASC 718 Fair Value of awards granted during 2021 that remain unvested as of year-end — $ 1,233,059.36 $ 724,335.80 Increase/deduction for awards granted during prior fiscal years that were outstanding and unvested as of 12/31/2021, determined based on change in ASC 718 Fair Value from 12/31/2020 to 12/31/2021 $ 140,902.48 $ 100,760.80 $ 55,307.73 Increase/deduction for awards granted during prior fiscal years that vested during 2021, determined based on change in ASC 718 Fair Value from 12/31/2020 to the vesting date $ 315,434.51 $ 71,781.48 $ 67,550.59 Increase based on dividends or other earnings paid during the year prior to the vesting date of an award $ 210,134.00 $ 103,160.82 $ 61,376.42 Total Adjustments $ 666,470.99 $ 288,762.46 $ 191,903.87 Summary Compensation Table Total $ 0.00 $ 1,220,000.00 $ 900,483.00 Compensation Actually Paid $ 666,470.99 $ 1,508,762.46 $ 1,092,386.87 2020 Adjustments PEO Average Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation table for 2020 $ (713,510.00 ) $ (435,328.50 ) Increase/deduction based on ASC 718 Fair Value of awards granted during 2020 that remain unvested as of year-end $ 694,783.96 $ 423,903.65 Increase/deduction for awards granted during prior fiscal years that were outstanding and unvested as of 12/31/2020, determined based on change in ASC 718 Fair Value from 12/31/2019 to 12/31/2020 $ (1,795,082.25 ) $ (254,565.19 ) Increase/deduction for awards granted during prior fiscal years that vested during 2020, determined based on change in ASC 718 Fair Value from 12/31/2019 to the vesting date $ (1,429,561.07 ) $ (139,879.81 ) Increase based on dividends or other earnings paid during the year prior to the vesting date of an award $ 405,464.00 $ 53,993.15 Total Adjustments $ (2,837,905.36 ) $ (351,876.70 ) Summary Compensation Table Total $ 713,510.00 $ 498,071.75 Compensation Actually Paid $ (2,124,395.36 ) $ 146,195.05 | |||||
Named Executive Officers, Footnote [Text Block] | (4) Non-PEO (5) Non-PEO (6) Non-PEO | |||||
Peer Group Issuers, Footnote [Text Block] | Represents the total shareholder return for the Bloomberg REIT Mortgage Index since January 1, 2020. | |||||
PEO Total Compensation Amount | $ 0 | |||||
PEO Actually Paid Compensation Amount | 0 | |||||
Adjustment To PEO Compensation, Footnote [Text Block] | (9) The amounts reported represent the amounts of “compensation actually paid” to our PEO and “average compensation actually paid” to our other NEOs, as calculated in accordance with Item 402(v) of Regulation S-K. S-K 2022 Adjustments PEO PEO Average Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation table for 2022 $ (1,000,000.00 ) $ (3,250,000.00 ) $ (833,333.33 ) Increase/deduction based on ASC 718 Fair Value of awards granted during 2022 that remain unvested as of year-end $ 939,790.20 $ 2,742,558.96 $ 783,158.50 Increase/deduction for awards granted during prior fiscal years that were outstanding and unvested as of 12/31/2022, determined based on change in ASC 718 Fair Value from 12/31/2021 to 12/31/2022 $ (606,670.50 ) — $ (319,450.40 ) Increase/deduction for awards granted during prior fiscal years that vested during 2022, determined based on change in ASC 718 Fair Value from 12/31/2021 to the vesting date $ (137,988.83 ) — $ (94,602.22 ) Increase based on dividends or other earnings paid during the year prior to the vesting date of an award $ 168,528.96 $ 149,365.44 $ 102,022.32 Total Adjustments $ (636,340.17 ) $ (358,075.60 ) $ (362,205.14 ) Summary Compensation Table Total $ 1,000,000.00 $ 3,250,000.00 $ 1,055,446 Compensation Actually Paid $ 363,659.83 $ 2,891,924.40 $ 665,109.86 2021 Adjustments PEO PEO Average Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation table for 2021 — $ (1,220,000.00 ) $ (716,666.67 ) Increase/deduction based on ASC 718 Fair Value of awards granted during 2021 that remain unvested as of year-end — $ 1,233,059.36 $ 724,335.80 Increase/deduction for awards granted during prior fiscal years that were outstanding and unvested as of 12/31/2021, determined based on change in ASC 718 Fair Value from 12/31/2020 to 12/31/2021 $ 140,902.48 $ 100,760.80 $ 55,307.73 Increase/deduction for awards granted during prior fiscal years that vested during 2021, determined based on change in ASC 718 Fair Value from 12/31/2020 to the vesting date $ 315,434.51 $ 71,781.48 $ 67,550.59 Increase based on dividends or other earnings paid during the year prior to the vesting date of an award $ 210,134.00 $ 103,160.82 $ 61,376.42 Total Adjustments $ 666,470.99 $ 288,762.46 $ 191,903.87 Summary Compensation Table Total $ 0.00 $ 1,220,000.00 $ 900,483.00 Compensation Actually Paid $ 666,470.99 $ 1,508,762.46 $ 1,092,386.87 2020 Adjustments PEO Average Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation table for 2020 $ (713,510.00 ) $ (435,328.50 ) Increase/deduction based on ASC 718 Fair Value of awards granted during 2020 that remain unvested as of year-end $ 694,783.96 $ 423,903.65 Increase/deduction for awards granted during prior fiscal years that were outstanding and unvested as of 12/31/2020, determined based on change in ASC 718 Fair Value from 12/31/2019 to 12/31/2020 $ (1,795,082.25 ) $ (254,565.19 ) Increase/deduction for awards granted during prior fiscal years that vested during 2020, determined based on change in ASC 718 Fair Value from 12/31/2019 to the vesting date $ (1,429,561.07 ) $ (139,879.81 ) Increase based on dividends or other earnings paid during the year prior to the vesting date of an award $ 405,464.00 $ 53,993.15 Total Adjustments $ (2,837,905.36 ) $ (351,876.70 ) Summary Compensation Table Total $ 713,510.00 $ 498,071.75 Compensation Actually Paid $ (2,124,395.36 ) $ 146,195.05 | |||||
Non-PEO NEO Average Total Compensation Amount | $ 1,055,446 | $ 900,483 | 498,071.75 | |||
Non-PEO NEO Average Compensation Actually Paid Amount | $ 665,109.86 | 1,092,386.87 | 146,195.05 | |||
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (9) The amounts reported represent the amounts of “compensation actually paid” to our PEO and “average compensation actually paid” to our other NEOs, as calculated in accordance with Item 402(v) of Regulation S-K. S-K 2022 Adjustments PEO PEO Average Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation table for 2022 $ (1,000,000.00 ) $ (3,250,000.00 ) $ (833,333.33 ) Increase/deduction based on ASC 718 Fair Value of awards granted during 2022 that remain unvested as of year-end $ 939,790.20 $ 2,742,558.96 $ 783,158.50 Increase/deduction for awards granted during prior fiscal years that were outstanding and unvested as of 12/31/2022, determined based on change in ASC 718 Fair Value from 12/31/2021 to 12/31/2022 $ (606,670.50 ) — $ (319,450.40 ) Increase/deduction for awards granted during prior fiscal years that vested during 2022, determined based on change in ASC 718 Fair Value from 12/31/2021 to the vesting date $ (137,988.83 ) — $ (94,602.22 ) Increase based on dividends or other earnings paid during the year prior to the vesting date of an award $ 168,528.96 $ 149,365.44 $ 102,022.32 Total Adjustments $ (636,340.17 ) $ (358,075.60 ) $ (362,205.14 ) Summary Compensation Table Total $ 1,000,000.00 $ 3,250,000.00 $ 1,055,446 Compensation Actually Paid $ 363,659.83 $ 2,891,924.40 $ 665,109.86 2021 Adjustments PEO PEO Average Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation table for 2021 — $ (1,220,000.00 ) $ (716,666.67 ) Increase/deduction based on ASC 718 Fair Value of awards granted during 2021 that remain unvested as of year-end — $ 1,233,059.36 $ 724,335.80 Increase/deduction for awards granted during prior fiscal years that were outstanding and unvested as of 12/31/2021, determined based on change in ASC 718 Fair Value from 12/31/2020 to 12/31/2021 $ 140,902.48 $ 100,760.80 $ 55,307.73 Increase/deduction for awards granted during prior fiscal years that vested during 2021, determined based on change in ASC 718 Fair Value from 12/31/2020 to the vesting date $ 315,434.51 $ 71,781.48 $ 67,550.59 Increase based on dividends or other earnings paid during the year prior to the vesting date of an award $ 210,134.00 $ 103,160.82 $ 61,376.42 Total Adjustments $ 666,470.99 $ 288,762.46 $ 191,903.87 Summary Compensation Table Total $ 0.00 $ 1,220,000.00 $ 900,483.00 Compensation Actually Paid $ 666,470.99 $ 1,508,762.46 $ 1,092,386.87 2020 Adjustments PEO Average Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation table for 2020 $ (713,510.00 ) $ (435,328.50 ) Increase/deduction based on ASC 718 Fair Value of awards granted during 2020 that remain unvested as of year-end $ 694,783.96 $ 423,903.65 Increase/deduction for awards granted during prior fiscal years that were outstanding and unvested as of 12/31/2020, determined based on change in ASC 718 Fair Value from 12/31/2019 to 12/31/2020 $ (1,795,082.25 ) $ (254,565.19 ) Increase/deduction for awards granted during prior fiscal years that vested during 2020, determined based on change in ASC 718 Fair Value from 12/31/2019 to the vesting date $ (1,429,561.07 ) $ (139,879.81 ) Increase based on dividends or other earnings paid during the year prior to the vesting date of an award $ 405,464.00 $ 53,993.15 Total Adjustments $ (2,837,905.36 ) $ (351,876.70 ) Summary Compensation Table Total $ 713,510.00 $ 498,071.75 Compensation Actually Paid $ (2,124,395.36 ) $ 146,195.05 | |||||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Total Shareholder Return and “Compensation Actually Paid” | |||||
Compensation Actually Paid vs. Net Income [Text Block] | Net Income and “Compensation Actually Paid” | |||||
Total Shareholder Return Vs Peer Group [Text Block] | Total Shareholder Return and “Compensation Actually Paid” | |||||
Total Shareholder Return Amount | $ (63.54) | 22.55 | (62.91) | |||
Peer Group Total Shareholder Return Amount | (34.49) | 17.55 | (28.11) | |||
Net Income (Loss) | (60,066,000) | 138,550,000 | (136,826,000) | |||
PEO Name | Doug Bouquard | Matt Coleman | Greta Guggenheim | |||
Matt Coleman [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
PEO Total Compensation Amount | 1,000,000 | 1,220,000 | ||||
PEO Actually Paid Compensation Amount | 363,659.83 | 1,508,762.46 | ||||
Doug Bouquard [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
PEO Total Compensation Amount | 3,250,000 | |||||
PEO Actually Paid Compensation Amount | 2,891,924.4 | |||||
Greta Guggenheim [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
PEO Total Compensation Amount | 0 | 713,510 | ||||
PEO Actually Paid Compensation Amount | 666,470.99 | (2,124,395.36) | ||||
PEO [Member] | Matt Coleman [Member] | Deduction for amounts reported under the Stock Awards column in the Summary Compensation [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (1,000,000) | (1,220,000) | ||||
PEO [Member] | Matt Coleman [Member] | Increase deduction based on ASC 718 Fair Value of awards granted during that remain unvested as of yearend [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 939,790.2 | 1,233,059.36 | ||||
PEO [Member] | Matt Coleman [Member] | Increase deduction for awards granted during prior fiscal years that were outstanding and unvested determined based on change in ASC 718 Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (606,670.5) | 100,760.8 | ||||
PEO [Member] | Matt Coleman [Member] | Increase deduction for awards granted during prior fiscal years that vested change in ASC 718 Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (137,988.83) | 71,781.48 | ||||
PEO [Member] | Matt Coleman [Member] | Increase based on dividends or other earnings paid during the year prior to the vesting date of an award [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 168,528.96 | 103,160.82 | ||||
PEO [Member] | Matt Coleman [Member] | Total Adjustments [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (636,340.17) | 288,762.46 | ||||
PEO [Member] | Doug Bouquard [Member] | Deduction for amounts reported under the Stock Awards column in the Summary Compensation [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (3,250,000) | |||||
PEO [Member] | Doug Bouquard [Member] | Increase deduction based on ASC 718 Fair Value of awards granted during that remain unvested as of yearend [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 2,742,558.96 | |||||
PEO [Member] | Doug Bouquard [Member] | Increase deduction for awards granted during prior fiscal years that were outstanding and unvested determined based on change in ASC 718 Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
PEO [Member] | Doug Bouquard [Member] | Increase deduction for awards granted during prior fiscal years that vested change in ASC 718 Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
PEO [Member] | Doug Bouquard [Member] | Increase based on dividends or other earnings paid during the year prior to the vesting date of an award [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 149,365.44 | |||||
PEO [Member] | Doug Bouquard [Member] | Total Adjustments [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (358,075.6) | |||||
PEO [Member] | Greta Guggenheim [Member] | Deduction for amounts reported under the Stock Awards column in the Summary Compensation [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | (713,510) | ||||
PEO [Member] | Greta Guggenheim [Member] | Increase deduction based on ASC 718 Fair Value of awards granted during that remain unvested as of yearend [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | 694,783.96 | ||||
PEO [Member] | Greta Guggenheim [Member] | Increase deduction for awards granted during prior fiscal years that were outstanding and unvested determined based on change in ASC 718 Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 140,902.48 | (1,795,082.25) | ||||
PEO [Member] | Greta Guggenheim [Member] | Increase deduction for awards granted during prior fiscal years that vested change in ASC 718 Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 315,434.51 | (1,429,561.07) | ||||
PEO [Member] | Greta Guggenheim [Member] | Increase based on dividends or other earnings paid during the year prior to the vesting date of an award [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 210,134 | 405,464 | ||||
PEO [Member] | Greta Guggenheim [Member] | Total Adjustments [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 666,470.99 | (2,837,905.36) | ||||
Non-PEO NEO [Member] | Deduction for amounts reported under the Stock Awards column in the Summary Compensation [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (833,333.33) | (716,666.67) | (435,328.5) | |||
Non-PEO NEO [Member] | Increase deduction based on ASC 718 Fair Value of awards granted during that remain unvested as of yearend [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 783,158.5 | 724,335.8 | 423,903.65 | |||
Non-PEO NEO [Member] | Increase deduction for awards granted during prior fiscal years that were outstanding and unvested determined based on change in ASC 718 Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (319,450.4) | 55,307.73 | (254,565.19) | |||
Non-PEO NEO [Member] | Increase deduction for awards granted during prior fiscal years that vested change in ASC 718 Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (94,602.22) | 67,550.59 | (139,879.81) | |||
Non-PEO NEO [Member] | Increase based on dividends or other earnings paid during the year prior to the vesting date of an award [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 102,022.32 | 61,376.42 | 53,993.15 | |||
Non-PEO NEO [Member] | Total Adjustments [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | $ (362,205.14) | $ 191,903.87 | $ (351,876.7) |