Company: CIMO
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001206774-25-000244
Chunk: 72

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 72
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’s analysis, our compensation committee
recommended to our Board of Directors, and our Board of Directors approved, the following annual compensation arrangements offered to
our independent directors for the 2024-2025 director service year beginning June 1, 2024 for directors serving on the Board at the conclusion
of the 2024 annual meeting of stockholders, which (with the exception of the annual stock award amount increasing by $10,000 and the annual
cash fee for the Board Chairperson increasing by $45,000) have not changed from the 2023-2024 director service year:

|                                                                               |     2024 |
| Annual cash retainer (paid quarterly; may elect to be paid                    
 as a stock award)                                                             
 Annual stock award amount (RSUs with 1-year vesting)                          | $100,000 
 $130,000 |
|                                                                               |     2024 |
| Annual cash fee for Board Chairperson                                         | $120,000 |
| Annual cash fee for Audit Committee Chairperson                               |  $50,000 |
| Annual cash fee for Compensation Committee Chairperson and Risk Chairperson   |  $25,000 |
| Annual cash fee for Nominating and Corporate Governance Committee Chairperson |  $25,000 |
| Annual cash fee for Committee Membership (other than Committee Chair)         |  $10,000 |

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Directors
receive a grant of RSUs equal in value to the annual stock award amount (plus any amount of cash compensation the director elects to receive
in stock) on the date of the annual meeting of stockholders for that year. The RSUs accrue dividend equivalent rights and vest on the
earlier of (i) the one-year anniversary of the grant date and (ii) the following year’s annual meeting date, unless the director’s
service terminates prior to such date in which case the RSUs vest pro rata on such date based on the number of days the director served
as director during the director service year.

Expense Reimbursement and Deferrals

We also reimburse our directors
for their travel expenses incurred in connection with their attendance at Board of Directors and committee meetings. Our independent directors
are eligible to receive restricted common stock, options, and other stock-based awards under our equity incentive plan, although none
are currently contemplated other than as described above as part of the annual director compensation program.

Previously, we established a Stock
Award Deferral Program, comprised of the