Company: TWO-PC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001465740-25-000090
Chunk: 33

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 33
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holders. RSUs are a time-vesting equity, which generally vest ratably on an annual basis over a three-year period, and entitle the recipient to receive dividend equivalents during the vesting period.

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Target Awards . When determining the target long-term incentive award for each executive officer, the Compensation Committee reviews the available market data for the executive’s position, as well as the executive’s role and responsibilities, scope and complexity of the position, experience level, tenure with the company, and individual contributions and performance.

The following table sets forth the target long-term incentives that were established by the Compensation Committee for the 2024 performance year:

|                     |     | Total Target 
 LTI Awards   |     |            | % of Base Salary |     |      | Long-Term Incentive Awards |     |            |     |            |
| Name                |     | PSUs (50%)   |     |            | RSUs (50%)       |     |      |                            |     |            |     |            |
| William Greenberg   |     |              |     | $2,850,000 |                  |     | 300% |                            |     | $1,425,000 |     | $1,425,000 |
| Nicholas Letica     |     |              |     | $1,200,000 |                  |     | 200% |                            |     |   $600,000 |     |   $600,000 |
| Rebecca B. Sandberg |     |              |     |   $725,000 |                  |     | 145% |                            |     |   $362,500 |     |   $362,500 |
| Robert Rush         |     |              |     |   $475,000 |                  |     | 95%  |                            |     |   $237,500 |     |   $237,500 |
| Mary Riskey         |     |              |     |   $600,000 |                  |     | 120% |                            |     |   $300,000 |     |   $300,000 |

Mr. Dellal did not receive a target long-term incentive award for the 2024 performance year.

PSUs are earned at the end of a full three-year performance period, depending upon the level of performance achieved by the company against pre-established performance goals set by the Compensation Committee, and are settled in shares of our common stock. For the