Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 132

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 132
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 of 13.2 million shares of common stock may be granted under the Equity Plan; forfeitures and/or awards that expire unexercised do not count toward this limit.  At June 30, 2025, approximately 8.9 million shares of common stock remained available for grant in connection with stock-based awards under the Equity Plan.  A participant may generally not receive stock-based awards in excess of 2.0 million shares of common stock in any one year and no award may be granted to any person who, assuming exercise of all Options and payment of all awards held by such person, would own or be deemed to own more than 9.8% of the outstanding shares of the Company’s common stock.  Unless previously terminated by the Board, awards may be granted under the Equity Plan until June 3, 2035.Restricted Stock Units Under the terms of the Equity Plan, RSUs are instruments that provide the holder with the right to receive, subject to the satisfaction of conditions set by the Compensation Committee at the time of grant, a payment of a specified value, which may be a share of the Company’s common stock, the fair market value of a share of the Company’s common stock, or such fair market value to the extent in excess of an established base value, on the applicable settlement date. Although the Equity Plan permits the Company to issue RSUs that can settle in cash, all of the Company’s outstanding RSUs as of June 30, 2025 are designated to be settled in shares of the Company’s common stock.  The Company granted 107,184 and 1,560,201 RSUs during the three and six months ended June 30, 2025, respectively, and granted 94,333 and 1,349,819 RSUs during the three and six months ended June 30, 2024, respectively. There were 11,313 and 273,983 RSUs forfeited during the three and six months ended June 30, 2025, respectively, and 11,985 and 267,875 RSUs forfeited during the three and six months ended June 30, 2024, respectively. There were 482,079 and 129,949 RSUs surrendered to satisfy tax obligations during the six months ended June 30, 2025 and 2024, respectively. All holders of RSUs outstanding at June 30, 2025 may be entitled to receive dividend equivalent payments depending on the terms and