Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 181

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 181
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  Stock units do not represent stock of the Company, but rather are a liability of the Company that changes in value as would equivalent shares of the Company’s common stock.  Deferred compensation liabilities are settled in cash at the termination of the deferral period, based on the value of the stock units at that time.  The Deferred Plans are non-qualified plans under the Employee Retirement Income Security Act of 1974 and, as such, are not funded.  Prior to the time that the deferred accounts are settled, participants are unsecured creditors of the Company. The Company’s liability for stock units in the Deferred Plans is based on the market price of the Company’s common stock at the measurement date.  The following table presents the Company’s expenses (reversal) related to its Deferred Plans for the years ended December 31, 2024, 2023 and 2022:  For the Year Ended December 31,(In Thousands)202420232022Non-employee directors$39 $586 $(1,133)Total$39 $586 $(1,133) The Company distributed cash of approximately $77,000, $374,000, and $53,000 to the participants of the Deferred Plans during the years ended December 31, 2024, 2023 and 2022, respectively. The following table presents the aggregate amount of income deferred by participants of the Deferred Plans through December 31, 2024 and 2023 that had not been distributed and the Company’s associated liability for such deferrals at December 31, 2024 and 2023:  December 31, 2024December 31, 2023(In Thousands)Undistributed Income Deferred (1)Liability Under Deferred PlansUndistributed Income Deferred (1)Liability Under Deferred PlansNon-employee directors$2,734 $2,561 $2,611 $2,404 Total$2,734 $2,561 $2,611 $2,404 (1)Represents the cumulative amounts that were deferred by participants through December 31, 2024 and 2023, which had not been distributed through such respective date.

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Table of ContentsMFA FINANCIAL, INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024

(c) Savings Plan 

The Company sponsors a tax-qualified employee