Company: MITN
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001514281-25-000086
Chunk: 47

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 47
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 services. Our reimbursement obligation is not subject to any dollar limitation; however, reimbursements are subject to an annual budget process which combines guidelines from the management agreement with oversight by our Board of Directors and discussions with our Manager. 

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The below table details the expense reimbursement incurred during the three and six months ended June 30, 2025 and 2024 (in thousands).

Three Months EndedSix Months EndedConsolidated statements of operations line item:June 30, 2025June 30, 2024June 30, 2025June 30, 2024Non-investment related expenses (1)$1,304 $1,636 $3,143 $3,300 Investment related expenses95 87 295 201 Transaction related expenses109306 369 374 Expense reimbursements to Manager or its affiliates$1,508 $2,029 $3,807 $3,875 

(1)For the three and six months ended June 30, 2024, the Manager agreed to waive its right to receive expense reimbursements of $0.3 million and $0.6 million, respectively, pursuant to the MITT Management Agreement Amendment executed in connection with the WMC acquisition. 

As of June 30, 2025 and December 31, 2024, we recorded a reimbursement payable to our Manager or its affiliates of $1.7 million and $1.7 million, respectively The reimbursement payable to the Manager or its affiliates is included within the "Due to affiliates" line item within the "Other liabilities" line item on the consolidated balance sheets. 

Equity Incentive Plans

Effective April 15, 2020 upon the approval of our stockholders at our 2020 annual meeting of stockholders, our 2020 Equity Incentive Plan (the "2020 Equity Incentive Plan") provided for a maximum of 666,666 shares of common stock to be issued. 

Under the 2020 Equity Incentive Plan, we granted an aggregate of 285,825 shares of restricted common stock to the independent directors, all of which have vested. 

On December 6, 2023, in connection with the WMC acquisition, we granted an aggregate 25,962 restricted stock units to two independent directors added to our Board of Directors who previously served on WMC's board of directors, all of which have vested. Through May 5, 202