Company: CIMO
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001206774-25-000244
Chunk: 17

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 17
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individual directors to ensure a continued match of their skill sets and tenure against the needs of the Company. In 2021, the nominating
and corporate governance committee initiated a Board of Directors search process to identify and vet potential director candidates, and
pursuant to such process, the Board of Directors, together with the committee, identified key skills and qualities the Board is seeking
in new directors. Following a broad search, two independent directors were identified and elected to the Board in 2021. As an extension
of that process one independent director was identified and elected to the Board in 2023. In 2024, Cynthia B. Walsh was identified as
a potential director nominee by the nominating and corporate governance committee. Ms. Walsh was evaluated for key skills and qualities
the Board had earlier identified and against other standards set forth in the Company’s Corporate Governance Guidelines. As a result
of this process, the Board elected Ms. Walsh as a new independent director effective December 1, 2024.

The Board of Directors recognizes
that a thoughtful and comprehensive Board evaluation process is an integral component of a robust corporate governance framework and an
effective Board. Generally, our nominating and corporate governance committee facilitates the annual assessment of the Board of Directors,
and each individual director, and then reports to the full Board. Similarly, each committee reviews the results of its assessment to determine
whether any changes need to be made to the committee or its procedures. In addition to the formal evaluation processes conducted on an
annual basis, directors share perspectives, feedback, and suggestions year-round.

Additional Governance Features

Stock Ownership Guidelines

We believe that each director
should have a substantial personal investment in our company. We have adopted stock ownership requirements in our Corporate Governance
Guidelines whereby each non-employee director is prohibited from selling or otherwise transferring vested equity awards during his or
her term as a director until the aggregate value of all of his or her stock holdings in our Company exceeds 3x the cash portion of such
director’s annual base retainer fee.

In addition, each of our named
executive officers is subject to a stock ownership and retention requirement. Shares of our stock received from equity awards, after taxes,
must be held by the executive until a stated level of ownership is achieved, measured as a multiple of salary―5x for our Chief
Executive Officer and 3x for the other named executive officers. Once this required minimum ownership level has been achieved, the named
executive officer must continue to maintain that minimum