Company: CIMO
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001206774-25-000244
Chunk: 48

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 48
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200,000 |                             13,022 | 3-year performance period |

The grant date fair value of this
award for accounting purposes is included in the Summary Compensation Table as 2024 compensation under the “Stock Awards”
column.

The actual number of PSUs earned
is based 50% on our Economic Return and 50% on our TSR performance for the LTI Measurement Period, relative to the Economic Return and
TSR performance of the companies included in the iShares Mortgage Real Estate ETF for that period, as follows:

Relative Economic Return Goals (50% weighting) over LTI Measurement Period:

| Relative Economic Return Goals |                           |
| Relative Economic Return       | % of Economic Return PSUs |
| Less than the threshold        | 0%                        |
| 50th percentile                | 100%                      |
| 75th percentile                | 150%                      |
| 100th percentile               | 200%                      |

The threshold is the lesser
of (x) the average weekly interest rate on the 2-year U.S. Treasury note during the applicable LTI Measurement Period plus 100 basis points
or (y) the 25th percentile of Relative Economic Return. For any Relative Economic Return achieved between the percentiles specified in
the above table (if performance is above the threshold), the percentage of the target PSUs that will vest for the PSU Performance Period
will be determined by linear interpolation. If the achieved Relative Economic Return is at or above the threshold but below the 50th percentile,
the percentile corresponding to the achieved Relative Economic Return will be used when applying such linear interpolation. Notwithstanding
the foregoing, in the event that the Company Economic Return for the LTI Measurement Period is at or below zero, achievement of the Relative
Economic Return metric shall be deemed to not exceed 100%.

Relative TSR Goals (50% weighting) over LTI Measurement Period:

| Relative TSR Goals      |               |
| Relative TSR            | % of TSR PSUs |
| Less than the threshold | 0%            |
| 50th percentile         | 100%          |
| 75th percentile         | 150%          |
| 100th percentile        | 200%          |

2 Grant date fair value for accounting purposes differs from the intended values reported above because we calculate the number of target shares using 20-day average VWAP for the 20 consecutive trading days ending on the last day of the prior fiscal year rather than our closing price on the date of grant,