Company: MFAN
Filing Date: 2025-05-30
Form Type: 11-K
Source: 0001055160-25-000011
Chunk: 11

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-30
Form: 11-K
Chunk 11
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ulative Redeemable Preferred Stock valued at $113,005. As of December 31, 2023, participants in the Plan held 29,914 shares of MFA Financial, Inc. Common Stock valued at $326,984 and 5,346 shares of MFA Financial, Inc. 7.50% Series B Cumulative Redeemable Preferred Stock valued at $115,230.

Notes Receivable from Participants

Notes Receivable from Participants, as discussed in Note 1 (Description of the Plan), are also considered to be party-in-interest transactions and totaled $300,107 and $132,010 at December 31, 2024 and December 31, 2023, respectively.

Administrative expense credit

The trustee provides certain administrative services to the Plan and receives revenue from mutual fund providers for services the trustee provides to the funds. This revenue is used to offset certain amounts owed to the trustee for its administrative services to the Plan. If the revenue received by the trustee from such mutual fund service providers exceeds the amounts owed the trustee remits the excess to the Plan pursuant to the service agreement. Such amounts may be applied to pay Plan administrative expenses or allocated to the accounts of the participants, depending on the Plan’s provisions. During 2024, $17,566 was received from the trustee, which was used to pay Plan expenses.

Administrative expenses

During 2024, the Plan paid $11,014 in administrative expenses to the Trustee of the Plan.

#### 6. Risks and Uncertainties
The Plan invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term, and that such changes could materially affect the participants’ account balances and the amounts reported in the statements of net assets available for benefits.

Volatility in the financial markets may significantly impact the subsequent valuation of the Plan's investments. Accordingly, the valuation of investments at December 31, 2024 and 2023 may not necessarily be indicative of amounts that could be realized in a current market exchange.

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#### MFA FINANCIAL, INC. 401(K) SAVINGS PLAN

### Notes to the Financial Statements

#### December 31, 2024

#### 7. Plan Termination
Although it has not expressed any intent to do so, the Company