Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 176

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 176
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4 may be entitled to receive dividend equivalent payments depending on the terms and conditions of the award either in cash at the time dividends are paid by the Company or at the time of settlement of the RSU award, or for performance-based RSU awards, as a grant of stock at the time such awards are settled.  At December 31, 2024 and 2023, the Company had unrecognized compensation expense of $6.3 million and $9.2 million, respectively, related to RSUs.  The unrecognized compensation expense at December 31, 2024 is expected to be recognized over a weighted average period of 1.7 years.   The following table presents information with respect to the Company’s RSUs during the years ended December 31, 2024, 2023 and 2022: For the Year Ended December 31, 2024RSUs With Service ConditionWeighted Average Grant Date Fair Value Per ShareRSUs With Market and Service ConditionsWeighted Average Grant Date Fair Value Per ShareTotal RSUsTotal Weighted Average Grant Date Fair Value Per ShareOutstanding at beginning of year:1,320,059 $14.01 1,867,842 $11.16 3,187,901 $12.34 Granted (1)573,110 11.17 1,308,727 11.77 1,881,837 11.59 Settled(312,808)16.15 — — (312,808)16.15 Cancelled/forfeited(159,451)10.80 (511,222)11.99 (670,673)11.71 Outstanding at end of year1,420,910 $12.76 2,665,347 $11.23 4,086,257 $11.76 RSUs vested but not settled at end of year957,045 $13.75 1,845,176 $12.23 2,802,221 $12.75 RSUs unvested at end of year463,865 $10.71 820,171 $8.99 1,284,036 $9.61  For the Year Ended December 31, 2023RSUs With Service ConditionWeighted Average Grant Date Fair Value Per ShareRSUs With Market and Service ConditionsWeighted Average Grant Date Fair Value