Company: NLY-PF
Filing Date: 2025-12-29
Form Type: 8-K
Source: 0001193125-25-335363
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Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-12-29
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 29, 2025, Anthony C. Green, the Chief Legal Officer, Chief Corporate Officer and Secretary and a senior member of the executive team of Annaly Capital Management, Inc. (the “ Company”) notified the Company that he will be retiring after a distinguished 16 years with the Company. Effective January 1, 2026, Mr. Green will cease to serve as Chief Legal Officer, Chief Corporate Officer and Secretary and will become a Senior Advisor to the Company through March 31, 2026.

In connection with his transition to a Senior Advisor and subsequent retirement, on December 29, 2025, Mr. Green and the Company entered into a retirement and transition agreement pursuant to which he will continue to receive his current base salary through the end of his term as a Senior Advisor and will also remain eligible for his 2025 annual incentives (to be delivered partially in cash and partially in equity, consistent with the Company’s regular practice for annual incentives) based on actual 2025 performance results.

In consideration for Mr. Green’s covenants pursuant to the retirement and transition agreement, including supporting the transition and a customary release of claims in favor of the Company, following his retirement, Mr. Green will continue to vest in his equity awards that are outstanding as of the date of his retirement in accordance with the retirement provisions in the applicable award agreements, subject to certain modifications. Those modifications include the reduction of the six-monthnotice of retirement period set forth in the award agreements to allow Mr. Green to retire on March 31, 2026, and the elimination or replacement of restrictive covenants set forth in the award agreements relating to comparable post-employment work and non-solicitation. In further consideration for Mr. Green’s covenants pursuant to the retirement and transition agreement, upon retirement and subject to the release of claims, Mr. Green will be eligible for a lump-sumcash retirement payment equal to three months of his current base salary, which is the additional base salary he would have received if he had remained employed for the full six-monthnotice period. He will also be eligible for an additional lump-sumcash payment to provide funds sufficient to cover certain costs of COBRA continuation coverage until September 30, 2026.

The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the full