Company: AOMN
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001766478-25-000028
Chunk: 36

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 36
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 stockholder’s substantial approval indicated strong support for our approach to executive compensation. The Compensation Committee will continue to consider stockholder feedback and the outcome of our stockholder say-on-pay votes when making future NEO compensation decisions.

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Base Salary

As noted above, our Manager is entitled to reimbursement from us for the costs of the salary for Mr. Filson, with the amount of any salary paid to Mr. Filson subject to the approval of our Compensation Committee. For 2024, the Compensation Committee approved a base salary of $425,000 with respect to Mr. Filson’s services to us. Mr. Prabhu is an equity owner of our Manager and is an ultimate beneficial owner of the Manager and its affiliate, Angel Oak Capital, and does not receive a base salary for his services to us. Please see the “Salary” column in the 2024 Summary Compensation Table for the base salary amounts earned by Mr. Filson in 2024 and 2023.

2024 STIP Program

Mr. Filson had a 2024 STIP bonus target of $467,500, with the payout to be determined based on a combination of an objective performance-based metric, weighted 75% (the “Objective Metric”) and a subjective qualitative metric, weighted 25% (the “Subjective Metric”). Mr. Prabhu does not participate in the STIP. The Objective Metric is determined based on an adjustable income measurement that adjusts for realized and unrealized gains and losses, securitization issuance costs and other non-cash expenses and the potential payout amount ranges in value from 0% to 150% of target. The Subjective Metric is based on Mr. Filson’s individual performance and the potential payout amount ranges from 0% to 125% of target. The chart below contains the performance established at the beginning of 2024 along with the corresponding actual performance against which Mr. Filson’s STIP bonus was calculated.

Financial Objective - Adjustable Income

Our financial performance objective is based on adjustable income measurement that adjusts for realized and unrealized gains and losses, securitization issuance costs and other non-cash expenses. This goal was set based on the internal budget that was itself based on a rigorous budgeting process reviewed by the full Board of Directors and monitored over the course of the year. This goal was selected because it is a supplemental portfolio performance measure that reflects the performance of the Company’s generation of cash to support dividends or to grow the Company’s