Company: CIMO
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001206774-25-000244
Chunk: 16

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 16
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 As part of its risk assessment
and management activities going forward, our compensation committee undertakes an annual review of our compensation policies and practices
as they relate to risk, the results of which are shared with our Board of Directors. For a discussion of the governance of our executive
compensation, see “Compensation Discussion and Analysis – Governance of Our Executive Compensation Program.”

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Board Leadership Structure

We have separated the roles
of principal executive officer and Chairman of the Board. Our principal executive officer is Phillip J. Kardis II, who is our President
and Chief Executive Officer and a director. Our Chairman of the Board of Directors is Gerard Creagh, who is an independent director. The
Board of Directors believes this current allocation of responsibilities between these two positions provides for dynamic board leadership
while maintaining strong independence and is therefore an effective and appropriate leadership structure.

Independence of Our Directors

NYSE rules require that at
least a majority of our directors be independent of our company and management. The rules also require that our Board of Directors affirmatively
determine that there are no material relationships between a director and us (either directly or as a partner, stockholder or officer
of an organization that has a relationship with us), and that a director otherwise meets the NYSE’s independence standards before
such director can be deemed independent. We have adopted independence standards consistent with the NYSE rules. Our Board of Directors
has reviewed both direct and indirect transactions and relationships that each of our directors had or maintained with us and our management.
Our Board of Directors, based upon the fact that none of our independent directors have any relationships with us other than as directors
and holders of our common stock, affirmatively determined that six of our directors are independent directors under NYSE rules. Our independent
directors are Gerard Creagh, Kevin G. Chavers, Susan Mills, Brian P. Reilly, Debra W. Still, and Cynthia B. Walsh. Phillip J. Kardis II
is not considered independent because he is an employee of the Company.

Board Effectiveness, Self-Evaluations and Refreshment

The Board of Directors and committee
refreshment and succession planning process is designed to ensure that the Board of Directors and each committee are comprised of highly
qualified directors, with the independence, diversity, skills and perspectives to provide strong and effective oversight. The Board, led
by the nominating and corporate governance committee, annually evaluates the composition of the Board and each Committee, and evaluates