Company: MITN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001514281-25-000062
Chunk: 129

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 129
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 agreement with oversight by our Board of Directors and discussions with our Manager. 

63

The below table details the expense reimbursement incurred during the three months ended March 31, 2025 and 2024 (in thousands).

Three Months EndedConsolidated statements of operations line item:March 31, 2025March 31, 2024Non-investment related expenses (1)$1,839 $1,664 Investment related expenses200 114 Transaction related expenses26068 Expense reimbursements to Manager or its affiliates$2,299 $1,846 

(1)For the three months ended March 31, 2024, the Manager agreed to waive its right to receive expense reimbursements of $0.3 million, pursuant to the MITT Management Agreement Amendment executed in connection with the WMC acquisition. 

As of March 31, 2025 and December 31, 2024, we recorded a reimbursement payable to our Manager or its affiliates of $2.3 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. 

Share-based compensation

The AG Mortgage Investment Trust, Inc. 2020 Equity Incentive Plan, which became effective on April 15, 2020 following the approval of our stockholders at our 2020 annual meeting of stockholders, provides for a maximum of 666,666 shares of common stock that may be issued under the plan. The maximum number of shares of common stock granted during a single fiscal year to any non-employee director, taken together with any cash fees paid to such non-employee director during any fiscal year, shall not exceed $300,000 in total value (calculating the value of any such awards based on the grant date fair value). As of March 31, 2025, 239,183 shares of common stock remained available to be awarded under the 2020 Equity Incentive Plan.

Since inception of the 2020 Equity Incentive Plan and through March 31, 2025, we have granted an aggregate of 268,313 shares of restricted common stock to our independent directors under our 2020 Equity Incentive Plan, all of which have vested. 

On December 6, 2023, in connection with the WMC acquisition, we granted an aggregate 25,962 restricted stock