Company: TWO-PC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001465740-25-000090
Chunk: 41

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 41
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 and shares underlying restricted stock awards or RSU awards granted under our 2021 Plan (or any future equity plan approved by stockholders), whether vested or unvested, are included in determining the number of shares held for this purpose. Shares that are indirectly beneficially owned ( e.g. , shares owned by an immediate family member) and shares of unvested PSUs are not eligible to be counted toward the minimum stock ownership requirements.

The following table sets forth the total stock ownership and value thereof for each of our current named executive officers, including beneficially owned shares and unvested restricted stock awards and RSUs, as calculated pursuant to our stock ownership guidelines as of December 31, 2024:

| Name                    |     | Total Stock Ownership |     |         | Total Value of Stock Owned (1) |     |            | Stock Ownership Requirement |     |            |
| William Greenberg (2)   |     |                       |     | 258,934 |                                |     | $3,054,065 |                             |     | $4,750,000 |
| William Dellal (2)      |     |                       |     |      84 |                                |     |       $991 |                             |     | $1,500,000 |
| Nicholas Letica (2)     |     |                       |     | 105,644 |                                |     | $1,246,046 |                             |     | $1,800,000 |
| Rebecca B. Sandberg (2) |     |                       |     | 112,894 |                                |     | $1,331,558 |                             |     | $1,500,000 |
| Robert Rush (2)         |     |                       |     |  69,176 |                                |     |   $815,914 |                             |     | $1,500,000 |

(1) Total value of stock owned based on the $11.7948 average closing price (unadjusted) of TWO's common stock for the 30 days preceding December 31, 2024.

(2) Each named executive officer expects to reach the guideline amount within the five-year achievement period.

Incentive Compensation Recoupment (Clawback) Policy

Our Incentive Compensation Recoupment Policy enables us to reduce or cancel unvested long-term equity incentive awards and recover previously paid cash and equity incentive compensation to our named executive officers and other senior executives in certain circumstances. The policy provides for the mandatory