Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 195

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 195
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ing period. In the event that a PSU is forfeited, the related accrued DERs shall be forfeited. Restricted Common StockThe following table summarizes the activity related to restricted common stock for the years ended December 31, 2024 and 2023:Year Ended December 31,20242023SharesWeighted Average Grant Date Fair Market ValueSharesWeighted Average Grant Date Fair Market ValueOutstanding at Beginning of Period— $— 42,884 $60.91 Granted— — — — Vested— — (42,884)(60.91)Forfeited— — — — Outstanding at End of Period— $— — $— The estimated fair value of restricted common stock on grant date is based on the closing market price of the Company’s common stock on the NYSE on such date. The shares underlying restricted common stock grants to the Company’s executive officers and other eligible individuals vested in three equal annual installments commencing on the first anniversary of the grant date, as long as such grantee complied with the terms and conditions of the applicable restricted stock award agreement.Non-Cash Equity Compensation ExpenseFor the years ended December 31, 2024, 2023 and 2022 the Company recognized compensation related to RSUs, PSUs and restricted common stock granted pursuant to the Equity Incentive Plan and/or the Prior Plan of $10.9 million, $11.0 million and $11.6 million, respectively. As of December 31, 2024, the Company had $3.8 million of total unrecognized compensation cost related to unvested share-based compensation arrangements. This cost is expected to be recognized over a weighted average period of 1.5 years.

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Table of ContentsTWO HARBORS INVESTMENT CORP.Notes to the Consolidated Financial Statements

Note 21. Interest Income and Interest Expense

The following table presents the components of the Company’s interest income and interest expense for the years ended December 31, 2024, 2023 and 2022.Year EndedDecember 31,202420232022Interest income:Available-for-sale securities$393,527 $412,310 $272,230 Mortgage loans held-for-sale78 9 3 Other56,547 68,045 23,307 Total interest income450,152 480,364 295,540 Interest expense:Repurchase agreements468