Company: CHMI-PB
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001140361-25-014748
Chunk: 40

Company: Cherry Hill Mortgage Investment Corp
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 40
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 totaled approximately $2.2 million for 2024 (87.3% of which was fixed base salary and 12.7% of which was variable/incentive pay). In addition to such compensation, from August 1, 2024 to November 14, 2024, Aurora paid $138,000 in cash compensation to Mr. Lown following a reduction in the annual base salary paid by Freedom Mortgage to Mr. Lown in August 2024. Effective November 14, 2024 we completed the Internalization. In connection with the Internalization, we employed a senior management team comprised of our current executive officers, Jeffrey B. Lown II, the Company’s President and Chief Executive Officer, Michael A. Hutchby, the Company’s Chief Financial Officer, and Julian B. Evans, the Company’s Chief Investment Officer. Each executive officer’s employment with the Company commenced on November 14, 2024. Until December 31, 2025, Mr. Lown will receive an initial annual base salary of $1,235,000, Mr. Hutchby will receive an initial annual base salary of $600,000 and Mr. Evans will receive an initial annual base salary of $550,000. Mr. Evans received a bonus of $275,000 in the first quarter of 2025 to maintain his compensation at the same level as the prior year. Each executive officer is being paid the same amount and form of compensation as was previously paid to him in connection with his prior employment arrangement with an affiliate of the Company’s former external manager. Base salaries are currently designed to ensure business continuity and retain key personnel during the transition to internal management. These salaries will be evaluated to take into account each executive officer’s role and

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TABLE OF CONTENTS

responsibilities, qualifications and experience, past performance, unique skills, future potential with our Company, compensation paid for similar positions within our peer group (including other comparable companies, as applicable), and internal pay equity. Equity Compensation The Compensation Committee is responsible for overseeing the equity compensation component of our executive compensation program and approves and recommends all equity awards granted pursuant to our equity incentive plan, which awards are then ratified by the Board. Equity Compensation Objectives and Philosophy The equity compensation paid to our NEOs is designed to drive and reward corporate performance. We believe our equity compensation program reflects good governance practices and the best interests of our stockholders, while striving to meet the following core objectives:

| • | Align Risk and Reward. We are committed to creating