Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 180

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 180
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 to a service condition only.Restricted Stock At December 31, 2024, 2023 and 2022, the Company did not have any unvested shares of restricted common stock outstanding, and no restricted shares vested during the years ended December 31, 2024 and 2023, respectively.Dividend Equivalents A dividend equivalent is a right to receive a distribution equal to the dividend distributions that would be paid on a share of the Company’s common stock.  Dividend equivalents may be granted as a separate instrument or may be a right associated with the grant of another award (e.g., an RSU) under the Equity Plan, and they are paid typically in cash or other consideration at such times and in accordance with such rules, as the Compensation Committee of the Board shall determine in its discretion.  Dividend equivalent payments are generally charged to Stockholders’ Equity when common stock dividends are declared to the extent that 

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Table of ContentsMFA FINANCIAL, INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024

such equivalents are expected to vest.  The Company made dividend equivalent payments associated with RSU awards of approximately $2.4 million, $463,000, and $659,000 during the years ended December 31, 2024, 2023 and 2022, respectively.  In addition, no dividend equivalents rights awarded as separate instruments were granted during the years ended December 31, 2024, 2023 and 2022.  Expense Recognized for Equity-Based Compensation Instruments The following table presents the Company’s expenses related to its equity-based compensation instruments for the years ended December 31, 2024, 2023 and 2022:  For the Year Ended December 31,(In Thousands)202420232022RSUs$13,883 $15,035 $11,338 Total$13,883 $15,035 $11,338 (b)  Deferred Compensation Plans  The Company administers deferred compensation plans for its senior officers and non-employee directors (collectively, the “Deferred Plans”), pursuant to which participants may elect to defer up to 100% of certain cash compensation.  The Deferred Plans are designed to align participants’ interests with those of the Company’s stockholders. Amounts deferred under the Deferred Plans are considered to be converted into “stock units” of the Company.