Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 137

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 137
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 common stock outstanding, and no restricted shares vested during the nine months ended September 30, 2025 and 2024.Dividend Equivalents A dividend equivalent is a right to receive a distribution equal to the dividend distributions that would be paid on a share of the Company’s common stock. Dividend equivalents may be granted as a separate instrument or may be a right associated with the grant of another award (e.g., an RSU) under the Equity Plan, and they are paid typically in cash or other consideration at such times and in accordance with such rules as the Compensation Committee of the Board shall determine in its discretion. Dividend equivalent payments are generally charged to Stockholders’ Equity when common stock dividends are declared to the extent that such equivalents are expected to vest. The Company made dividend equivalent payments associated with RSU awards of approximately $0.6 million and $3.3 million during the three and nine months ended September 30, 2025, respectively, and approximately $0.3 million and $2.1 million during the three and nine months ended September 30, 2024, respectively. In addition, no dividend equivalents rights awarded as separate instruments were granted during the nine months ended September 30, 2025 and 2024.  

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Table of ContentsMFA FINANCIAL, INC.NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSSEPTEMBER 30, 2025

Expense Recognized for Equity-Based Compensation Instruments The following table presents the Company’s expenses related to its equity-based compensation instruments for the three and nine months ended September 30, 2025 and 2024:Three Months EndedSeptember 30,Nine Months EndedSeptember 30,(In Thousands)2025202420252024RSUs$1,861 $2,104 $10,187 $12,247 Total$1,861 $2,104 $10,187 $12,247 (b)  Deferred Compensation Plans  The Company administers deferred compensation plans for its senior officers and non-employee directors (collectively, the “Deferred Plans”), pursuant to which participants may elect to defer up to 100% of certain cash compensation. The Deferred Plans are designed to align participants’ interests with those of the Company’s stockholders. Amounts deferred under the Deferred Plans are considered to be converted into “stock units” of the Company. Stock units do not represent stock of