Company: MFAN
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001140361-25-014577
Chunk: 87

Company: MFA FINANCIAL, INC.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 87
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 |     | 1,431,226 |

| 1. | Value of Accelerated Equity Awards. For purposes of these tables, values for TRSUs and PRSUs are based on $10.19 per share, the closing price of our stock on December 31, 2024. For purposes of these tables, we have assumed that “target” performance metrics with respect to the PRSUs have been achieved. |

| 2. | For each of Mr. Roper and Mr. Schwartz, the same amount of cash severance is payable by the Company in the event that the executive’s employment is terminated by the Company without Cause or by the executive for Good Reason, regardless of whether a Change in Control occurs. |

| (a) | Death and Disability |

The following incremental benefits would be paid to a Named Executive Officer or the Named Executive Officer’s estate or legal representative in the event of the executive’s death or Disability:

| (i) | Severance/Payment to Representative or Estate: For Mr. Knutson and Mr. Wulfsohn, a payment equal to 100% of the sum of his (a) base salary and (b) the median of the annual bonuses paid to him for the three calendar years preceding such termination (the “Median Bonus”). |

| (ii) | Value of Accelerated Equity Awards: For Mr. Knutson, Mr. Wulfsohn, Mr. Roper, Ms. Samuels and Mr. Schwartz, amounts represent the aggregate value resulting from the (i) immediate full vesting and settlement of all outstanding TRSUs (and any unpaid dividend equivalents in respect thereof) and (ii) full vesting of outstanding PRSUs as though the executive had remained employed through the end of the applicable performance period, subject to the achievement of applicable |

| MFA Financial, Inc. | 68 | 2025 Proxy Statement |

TABLE OF CONTENTS

performance goals measured through the end of the applicable performance period (including the value of any shares issued in respect of dividends accrued in respect thereof during the applicable performance period). For purposes of the above tables, we have assumed that the “target” performance metric with respect to outstanding PRSUs has been achieved.

| (b) | Termination Without Cause/Resignation for Good Reason |

The following incremental benefits would be paid to a Named Executive Officer in the event the executive is terminated without Cause or resigns for Good Reason, in either event, not in connection with a Change