Company: MFAN
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001140361-25-014577
Chunk: 59

Company: MFA FINANCIAL, INC.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 59
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 forth below. Formulaic Bonus . Under the methodology for determining the Adjusted GAAP ROAE Bonus, Adjusted GAAP ROAE for the 2024 Performance Period (December 1, 2023 to November 30, 2024) was approximately 13.73%*. Further, under the methodology for determining the Distributable Earnings ROAE Bonus, Adjusted Distributable Earnings ROAE for the 2024 Performance Period was approximately 12.53%*. Under the methodology for determining the Relative DE ROAE Bonus, MFA ranked seventh (7th), or eighty-first and eight tenths (81.8) percentile, relative to the companies in the Relative DE ROAE Peer Group for the Relative DE ROAE Performance Period. The amount of each of the Adjusted GAAP ROAE Bonus, Distributable Earnings ROAE Bonus and Relative DE ROAE Bonus for each of Mr. Knutson and Mr. Wulfsohn was determined by applying the Adjusted GAAP ROAE of 13.73%*, the Adjusted Distributable Earnings ROAE of 12.53%* and the Relative DE ROAE percentile to the respective methodology established by the Compensation Committee for each component of the Formulaic Bonus, with the result that each executive earned (i) an Adjusted GAAP ROAE Bonus equal to approximately 166.4% of his respective target for this component of the Formulaic Bonus, (ii) a Distributable Earnings ROAE Bonus equal to approximately 181.9% of his respective target for this component of the Formulaic Bonus and (iii) a Relative DE ROAE Bonus equal to 200% of his respective target for this component of the Formulaic Bonus. *
Adjusted GAAP Earnings, Adjusted GAAP ROAE, Adjusted Distributable Earnings and Adjusted Distributable Earnings ROAE are non-GAAP financial measures. See Appendix B and Appendix C for a reconciliation of each such measure to its comparable GAAP measure for the 2024 Performance Period.

| MFA Financial, Inc. | 46 | 2025 Proxy Statement |

TABLE OF CONTENTS

The target amount of each component of the Formulaic Bonus, the percentage of the target amount earned, the actual amount of each component earned and the total amount of the 2024 Formulaic Bonus earned by Messrs. Knutson and Wulfsohn are set forth in the table below:

| Executive    |     | Adjusted GAAP ROAE Bonus |