Company: AX
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001299709-25-000174
Chunk: 36

Company: Axos Financial, Inc.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 36
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, sector-wide returns                                                                                                                                                                                                                                                                   |
| Discourage excessive risk taking due to long-term formulaic negative carryforward and four year vesting period                                                          |     | •Failure to perform relative to XABQ index reduces the Equity Awards in accordance to the Equity Award Formula                                                                                                                                                                                                                                                            
 •In the event of severe underperformance, the Equity Award Formula can create a negative carryforward that will reduce current and future Equity Awards                                                                                                                                                                                                                   
 •After granted, award vests one fourth over four years                                                                                                                                                                                                                                                                                                                    |

For illustration purposes only, for the calculation of the Equity Award Formula assuming the Fiscal Year 2025 Beginning Market Capitalization, the Fiscal Year 2025 return on XABQ, a range of alternate Individual Factors and a range of alternate Company’s Total Return to Stockholders, refer to the table below.

|      |     |      |     |   |            |     | Total Return to Stockholders 
 10%                          |            |     |   |           |     | 15% |           |     |   |            |     | 33% |           |
|:-----|:----|-----:|:----|:--|-----------:|:----|:-----------------------------|-----------:|:----|:--|----------:|:----|:----|----------:|:----|:--|-----------:|:----|:----|----------:|
|      |     | 0.80 |     |   |            |     | $                            | -4,110,175 |     |   |           |     | $   | 1,960,000 |     |   |            |     | $   | 9,816,723 |
| 0.95 |     |      |     | $ | -3,585,175 |     |                              |            |     | $ | 2,490,000 |     |     |           |     | $ | 10,341,723 |     |     |           |
| 1.20 |     |      |     | $ | -2,710,175 |     |                              |            |     | $ | 3,360,000 |     |     |           |     | $ | 11,216,723 |     |     |           |

| 45 |

#### Compensation Discussion & Analysis
The Chief Executive Officer’s target equity award was set such that total target compensation – including the sum of the base salary, target cash bonus, and the