Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 188

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 188
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urchased from time to time through privately negotiated transactions or open market transactions, pursuant to trading plans in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, or the Exchange Act, or by any combination of such methods. The manner, price, number and timing of preferred share repurchases are subject to a variety of factors, including market conditions and applicable SEC rules. The preferred share repurchase program does not require the purchase of any minimum number of shares, and, subject to SEC rules, purchases may be commenced or suspended at any time without prior notice. The preferred share repurchase program does not have an expiration date.

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

The following table summarizes the Company’s purchases of its 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, 7.625% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock and 7.25% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock under the preferred share repurchase program during the years ended December 31, 2024, 2023 and 2022:Year EndedDecember 31,(dollars in thousands)202420232022Class of StockNumber of SharesAggregate CostNumber of SharesAggregate CostNumber of SharesAggregate CostSeries A Preferred Stock35,047 $809 236,183 $4,723 428,549 $7,793 Series B Preferred Stock280,060 $6,370 273,894 $5,349 786,846 $13,784 Series C Preferred Stock170,502 $3,923 225,547 $4,741 1,742,555 $29,825 Total(1)485,609 $11,102 735,624 $14,813 2,957,950 $51,402 ____________________(1)The difference between the aggregate cost and the carrying value of the preferred stock repurchased resulted in a total gain attributable to common stockholders of $0.6 million, $3.0 million and $20.1 million for the years ended December 31, 2024, 2023 and 2022, respectively.Common StockReverse Stock SplitOn September 21, 2022, the Company’s board of directors approved a one-for-four reverse stock