Company: FOACW
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001193125-25-065614
Chunk: 69

Company: Finance of America Companies Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 69
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 Transactions

The Company previously entered into a mezzanine loan agreement with Podium Mortgage Capital, LLC, which is a portfolio company of Blackstone. The Company terminated this borrowing in March 2023.**

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**From time to time in 2023, the Company sold business purpose loans backed by residential properties with an aggregate principal balance of $2.5 million (measured as of each cut-off date applicable to the related sale date) to one or more trusts owned by Blackstone portfolio companies.

From time to time in 2023 and 2024, the Company sold home improvement loans and retail installment sale contracts with an aggregate principal balance of $1.1 million (measured as of the related sale date) for the year ended December 31, 2024 and $122.5 million (measured as of the related sale date) for the year ended December 31, 2023, to one or more trusts owned by Aqua Finance, Inc., an entity in which Blackstone has an ownership interest. Further, on September 15, 2023 the Company sold certain home improvement lending assets to Aqua Finance, Inc. for a purchase price of $2.5 million.

Blackstone and its affiliates have ownership interests in a broad range of companies. We have entered and may in the future enter into commercial transactions in the ordinary course of our business with some of these companies, including the sale of goods and services and the purchase of goods and services. None of these transactions or arrangements has been or is expected to be material to us.

Kristen N. Sieffert, the Company’s President, has a brother-in-law who is a non-executive officer employee of the Company and in connection therewith, received total compensation of approximately $162,386 and $152,200 in fiscal years 2024 and 2023, respectively, consisting of an annual cash base salary and bonus. He was also eligible for customary employee benefits available to salaried employees generally.

Reza Jahangiri is the majority shareholder of AAG/Bloom. In connection with the AAG Transaction, the Company assumed a consulting agreement with Outclick Media (the “Outclick Consulting Agreement”) to provide certain marketing services to the Company. Outclick Media is wholly-owned by Mr. Jahangiri’s brother. The Outclick Consulting Agreement has a term ending on June 1, 2026 and the Company is required to pay compensation of $144,000 annually, payable in equal