Company: MFAN
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001140361-25-014577
Chunk: 51

Company: MFA FINANCIAL, INC.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 51
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 the amount of the Adjusted GAAP ROAE Bonus that could be earned by each of Mr. Knutson and Mr. Wulfsohn for the 2024 Performance Period:

| • | The “Adjusted GAAP ROAE Target” (i.e., the level of Company financial performance at which the “target” Adjusted GAAP ROAE Bonus would be earned) for the 2024 Performance Period would be 9.25% (calculated as described above), which reflected an increase of 1.00% over the Adjusted GAAP ROAE Target for the 2023 performance period. |

| • | No Adjusted GAAP ROAE Bonus would be earned if Adjusted GAAP ROAE was negative (the “threshold” Adjusted GAAP ROAE level) for the 2024 Performance Period, as compared to a threshold performance level of 3.0% for this metric for the 2023 performance period. |

| • | The maximum Adjusted GAAP ROAE Bonus (i.e., 200% of the target Adjusted GAAP ROAE Bonus) for each executive would be earned to the extent that Adjusted GAAP ROAE was in excess of 16.0% for the 2024 Performance Period, which reflected no change from the performance level for this metric for the 2023 performance period. |

To the extent that our Adjusted GAAP ROAE for the 2024 Performance Period were to be greater than the threshold Adjusted GAAP ROAE level of zero but less than 16%, then the executive would be paid a multiple of between zero and two times his target Adjusted GAAP ROAE Bonus, with the executive being paid the target amount ($450,000 in the case of Mr. Knutson and $247,500 in the case of Mr. Wulfsohn) to the extent that MFA’s Adjusted GAAP ROAE equaled the Adjusted GAAP ROAE Target for the 2024 Performance Period. In addition, the Compensation Committee established the following levels of Adjusted Distributable Earnings ROAE for the purpose of determining the amount of the Distributable Earnings ROAE Bonus that could be earned by each of Mr. Knutson and Mr. Wulfsohn for the 2024 Performance Period:

| • | The “Adjusted Distributable Earnings ROAE Target” (i.e., the level of Company financial performance at which the “target” Distributable Earnings ROAE Bonus would be earned