Ownership Submission
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 OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
PICKUP RICHARD H/
   2. Issuer Name and Ticker or Trading Symbol
IMPAC MORTGAGE HOLDINGS INC [IMH] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
2532 DUPONT DRIVE		 3. Date of Earliest Transaction (Month/Day/Year)
05/28/2015
(Street)

IRVINE, CA 92612		 4. If Amendment, Date Original Filed(Month/Day/Year)
 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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 05/28/2015   P   387 A $ 17.85 1,158,812 I See footnote. (1)
Common Stock 05/29/2015   P   200 A $ 17.5608 1,159,012 I See footnote. (1)
Common Stock 05/29/2015   P   2,100 A $ 17.3981 1,161,112 I See footnote. (1)
Common Stock 05/29/2015   P   515 A $ 17.339 1,161,627 I See footnote. (1)
Common Stock 05/29/2015   P   1,000 A $ 17.5 1,162,627 I See footnote. (1)
Common Stock 05/29/2015   P   2,300 A $ 17.26 1,164,927 I See footnote. (1)
Common Stock 05/29/2015   P   1,500 A $ 17.4271 1,166,427 I See footnote. (1)
Common Stock 05/29/2015   P   3,000 A $ 17.25 1,169,427 I See footnote. (1)
Common Stock 05/29/2015   P   1,500 A $ 17.64 1,170,927 I See footnote. (1)
Common Stock 05/29/2015   P   1,000 A $ 17.639 1,171,927 I See footnote. (1)
Common Stock 05/29/2015   P   1,000 A $ 17.47 1,172,927 I See footnote. (1)
Common Stock 05/29/2015   P   2,000 A $ 17.35 1,174,927 I See footnote. (1)
Common Stock 05/29/2015   P   1,500 A $ 17.5 1,176,427 I See footnote. (1)
Common Stock 06/01/2015   P   400 A $ 17.11 1,176,827 I See footnote. (1)
Common Stock               100,000 D  
Common Stock               197,902 (2) I See footnote. (2)
Common Stock               120,000 (3) I See footnote. (3)

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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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)		 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
Convertible Promissory Note Due 2018 $ 10.875             04/30/2013(4) 04/30/2018(4) Common Stock 524,138 (4)   $ 5,700,000 (4) I See footnotes. (4) (6) (7)
Convertible Promissory Note Due 2020 $ 21.5             01/02/2016(5) 05/09/2020(5) Common Stock 639,535 (5)   $ 1,375,000 (5) I See footnotes. (5) (6) (7)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PICKUP RICHARD H/
2532 DUPONT DRIVE
IRVINE, CA 92612		     X    

Signatures

 /s/ Richard H. Pickup   06/01/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The shares of common stock were purchased by RHP Trust, dated May 31, 2011 (the "Trust"), of which Reporting Person is the sole beneficiary, over which shares Reporting Person exercises sole voting and investment power, and the number of shares reflected in column 5 represents the aggregate number of shares of common stock owned directly by the Trust upon execution of this purchase transaction.
(2) The shares of common stock are held by Dito Devcar LP, over which Reporting Person shares voting and investment power, and the number of shares reflected in column 5 represents the aggregate number of shares of common stock owned directly by Dito Devcar LP as of June 1, 2015.
(3) The shares of common stock are held by Dito Caree LP, over which Reporting Person shares voting and investment power, and the number of shares reflected in column 5 represents the aggregate number of shares of common stock owned directly by Dito Caree LP as of June 1, 2015.
(4) As previously reported on a Form 4 filed by Reporting Person on May 2, 2013, on April 30, 2013, the Trust purchased a Convertible Promissory Note Due 2018 in the original principal amount of $5,700,000 that is convertible by the Trust immediately upon receipt and, upon conversion of the original principal amount prior to maturity at the initial conversion price of $10.875 per share (subject to adjustment in the event of stock splits, stock dividends and reclassifications), the Trust will receive 524,138 shares of common stock (subject to adjustment in the event of stocks splits, stock dividends and reclassifications). The Convertible Promissory Note Due 2018 is due and payable, to the extent not converted, on or before April 30, 2018.
(5) As previously reported on a Form 4 filed by Reporting Person on May 11, 2015, on May 8, 2015, the Trust purchased a Convertible Promissory Note Due 2020 in the original principal amount of $13,750,000 that is convertible by the Trust at any time after January 1, 2016, and, upon conversion of the original principal amount prior to maturity at the initial conversion price of $21.50 per share (subject to adjustment in the event of stock splits, stock dividends and reclassifications), the Trust will receive 639,535 shares of common stock (subject to adjustment in the event of stock splits, stock dividends and reclassifications). The Convertible Promissory Note Due 2020 is due and payable, to the extent not converted, on or before May 9, 2020.
(6) As of June 1, 2015, Reporting Person may be deemed to beneficially own an aggregate of 2,758,402 shares of the common stock, consisting of (a) 100,000 shares owned directly, and (b) an aggregate of 2,658,402 shares owned indirectly, consisting of (i) 1,176,827 shares owned directly by the Trust, (ii) 524,138 shares that the Trust may acquire at any time upon conversion (at the initial conversion price of $10.875 per share) of the outstanding principal balance of a Convertible Promissory Note Due 2018 owned directly by the Trust, (iii) 639,535 shares that the Trust may acquire at any time after January 1, 2016 upon conversion (at the initial conversion price of $21.50 per share) of the outstanding principal balance of a Convertible Promissory Note Due 2020 owned directly by the Trust, (iv) 197,902 shares owned directly by Dito Devcar LP (over which shares Reporting Person shares voting and investment power), and
(7) (Continued from footnote 6) (v) 120,000 shares owned directly by Dito Caree LP (over which shares Reporting Person shares voting and investment power).

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