Company: CHMI-PB
Filing Date: 2025-03-12
Form Type: 8-K
Source: 0001140361-25-008429
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Company: Cherry Hill Mortgage Investment Corp
Filing Date: 2025-03-12
Form: 8-K
Item: Item 5.02
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Item 5.02.      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory  

New Director

On March 11, 2025, the Board of Directors (the “ Board”) of Cherry Hill Mortgage Investment Corporation (the “ Company”) increased the size of the Board from four directors
to five directors and appointed Dale S. Hoffman as a director. Mr. Hoffman will initially serve for a term that will expire at the Company’s upcoming 2025 annual meeting of stockholders. At the same time, Mr. Hoffman was appointed to serve on the
Board’s compensation and nominating and corporate governance committees. Mr. Hoffman is independent under the standards of the New York Stock Exchange. There are no
transactions or relationships involving Mr. Hoffman and the Company that are required to be disclosed pursuant to Item 404 of Regulation S-K. Mr. Hoffman will participate in the same compensation programs as the other non-management directors.

Adoption of Executive Severance Plan

On March 12, 2025, the Board, based upon the recommendation of its compensation committee, adopted the Cherry Hill Mortgage Investment Corporation
Executive Severance Plan (the “ Executive Severance Plan”), which became effective immediately upon adoption. The Executive Severance Plan covers a regular full-time employee of the Company who is serving as the Chief Executive Officer, the Chief
Financial Officer, the Chief Investment Officer, the Senior Vice President of Mortgage Servicing and the General Counsel or Chief Legal Officer of the Company. The Executive Severance Plan will initially cover the following participants: Jay Lown,
the Company’s President and Chief Executive Officer, Michael Hutchby, the Company’s Chief Financial Officer, Julian Evans, the Company’s Chief Investment Officer, and Raymond Slater, the Company’s Senior Vice President of Mortgage Servicing.

The benefits payable to a participant depends on whether or not the participant incurs a termination of employment that constitutes a qualifying
termination. For purposes of the Executive Severance Plan, the term “qualifying termination” means either: (i) a termination of a participant’s employment by the Company without cause (but not including a termination due to death or permanent
disability), or (ii) a voluntary termination of a participant’s employment by the participant for good reason.

In the event that a participant incurs a termination of employment that constitutes a qualifying termination, subject to a participant’s compliance
with such participant’s obligations set forth in the Executive Severance Plan, including, but not limited to, such participant’s obligation