Company: ABR-PF
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001628280-25-018236
Chunk: 45

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 45
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 in effect in 2022 and 2023, Mr. Kaufman had an option to elect to receive either (x) an annual grant of three year time-based vesting stock with a value at grant of $3,000,000, subject to adjustment under the GAAP Equity Adjustment, or (y) an annual grant of performance-based vesting restricted stock units with an annual value at grant of $12,000,000, subject to adjustment under the GAAP Equity Adjustment, tied to our five year TSR objectives. One of the more significant changes made in the 2024 Agreement was to remove the option to elect either the time-based equity grant or the performance-based equity grant, and to instead provide both such grants, with the amounts of the grants reduced to approximately one half of the amounts applicable under the 2021 Agreement during 2023. Under the 2024 Agreement, Mr. Kaufman may elect to increase or decrease the amount of the time-based equity grant by 25%, 50% or 75%, in which event the amount of the performance-based equity grant is decreased or increased inversely, by 25%, 50% or 75%. Mr. Kaufman made no such election for 2025.

The 2024 Agreement addresses the treatment of the various incentive awards upon a termination of Mr. Kaufman’s employment. The 2024 Agreement provides that in the event of a termination of employment by the Company without

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cause or by Mr. Kaufman for good reason (as such terms are defined in the 2024 Agreement) (1) Mr. Kaufman will receive a lump sum payment equal to the remaining amount of his annual salary that would be payable for the balance of the term of the 2024 Agreement, (2) the annual performance-based cash bonus for the year of termination would be paid out at the target level of performance, (3) all previously issued time-based vesting stock issued under the 2024 Agreement or under the 2021 Agreement would vest in full, (4) all performance-based vesting restricted stock units issued under the 2024 Agreement would vest pro-rata based on the elapsed portion of the performance-period (based upon actual performance) and (5) for the number of full years remaining under the 2024 Agreement, all time-based vesting stock grants would be accelerated and vested. These provisions are substantially similar to those of the 2021 Agreement.

2021