Company: MFAN
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001140361-25-014577
Chunk: 69

Company: MFA FINANCIAL, INC.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 69
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 A copy of our Insider Trading Policy was filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on February 20, 2025. Timing of Grants of Certain Equity Awards . We do not currently grant stock options, stock appreciation rights or other awards with option-like features. Accordingly, we have no specific policy or practice on the timing of such awards in relation to the disclosure by the Company of material non-public information. In the event we determine to grant new options, stock appreciation rights or other awards with option-like features, our Board and Compensation Committee will evaluate the appropriate steps to take in relation to the timing of grants of such awards and the disclosure of material nonpublic information. (The Compensation Committee has, for the last several years, approved annual grants of TRSUs and PRSUs in early January of each year. The timing of these grants is unrelated to the release of material non-public information.) Advice from Independent Compensation Consultant . The Compensation Committee has historically retained an independent compensation consultant to assist it in reviewing the competitiveness of our executive compensation program, considering the overall design of the compensation program and providing compensation advice independent of company management. In the fall of 2020 (and annually since then), the Compensation Committee directly retained FW Cook, a nationally recognized compensation

| MFA Financial, Inc. | 52 | 2025 Proxy Statement |

TABLE OF CONTENTS consulting firm, in this role. One or more representatives from FW Cook meet, from time to time, with the Compensation Committee and provide assistance to the Compensation Committee with respect to various matters, including: (i) a benchmarking review of peer company executive compensation; (ii) the awards of annual incentive compensation; (iii) evaluating the elements and design of various aspects of our compensation program in light of current executive compensation practices for companies in our industry and public companies more generally; (iv) assisting in the development of an appropriate peer group; and (v) assisting in the design and review of employment agreements and other employment arrangements for certain of our senior executives. Under the terms of its engagement, FW Cook does not provide any other services to us, except as may be pre-approved by the Chair of the Compensation Committee. Compensation Committee Conflicts of Interest Analysis . The Compensation Committee assessed the independence of FW Cook pursuant to the factors set forth in its charter and Rule 10C-1(b)(4) under the Exchange Act. Based on this assessment, the Compensation Committee