Company: MFAN
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001140361-25-014577
Chunk: 102

Company: MFA FINANCIAL, INC.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 102
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 determined by the Compensation Committee. Directors, officers and employees of the Participating Companies are eligible to receive grants under the Amended Plan. As of the date of this Proxy Statement, six Non-Employee Directors and all of the approximately 350 employees of the Company and its subsidiaries (including our CEO, who is also a director, and our other officers) are eligible to be participants. Because our officers and

| MFA Financial, Inc. | 81 | 2025 Proxy Statement |

TABLE OF CONTENTS

aNon-Employee Directors are eligible to receive grants under the Amended Plan, they may be deemed to have a personal interest in the approval of this Proposal. The following types of grants may be made under the Amended Plan:

| • | Nonqualified stock options; |

| • | Incentive stock options (“ISOs”); |

| • | Restricted stock; |

| • | Phantom shares (which may include restricted stock units); |

| • | Stock appreciation rights; |

| • | Dividend equivalent rights (“DERs”); and |

| • | Other equity-based awards. |

Shares. Subject to adjustment, the maximum aggregate number of shares of Common Stock that may be issued under the Amended Plan on or after the Effective Date is 13,230,145 shares, which is the sum of (i) the number of shares subject to outstanding grants as of March 31, 2025, assuming target performance of performance-based grants (4,193,914 shares), (ii) 3,536,231 shares remaining available for grant under the Existing Plan, assuming target performance of performance-based grants, and (iii) 5,500,000 additional shares of Common Stock to be made available for grants. All of the authorized shares may be issued pursuant to ISOs as described in section 422 of the Code or any other types of grants. Shares of Common Stock that have been the subject of grants of restricted stock, phantom shares, stock options, stock appreciation rights, dividends, DERs or other equity-based grants that have been forfeited or that expire or terminate without having been exercised or paid in shares of Common Stock and shares as to which a stock option or stock appreciation right remains unexercised upon expiration, forfeiture or other termination will not count towards the share limitation and will be available for issuance under the Amended Plan. In addition, shares surrendered in payment of taxes with respect to grants of restricted stock, dividend equivalent rights, and phantom shares outstanding as of June 6,