Company: MFAN
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001140361-25-014577
Chunk: 80

Company: MFA FINANCIAL, INC.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 80
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 specifically, the actual amount of the Annual Bonus payable to the Executive, if any, for each Performance Period, shall be determined by the Compensation Committee based on the following allocation of the Overall Target Bonus for each executive: (a) 75% of the Overall Target Bonus shall be based on achievement of objective performance goals established by the Compensation Committee (i.e., the Formulaic Bonus), and (b) 25% of the Overall Target Bonus shall be based on such factors as determined by the Compensation Committee, including individual performance (i.e., the IRM Bonus). The amount of the Annual Bonus paid to an executive may range from zero to two times his respective Overall Target Bonus for each Performance Period. The Employment Agreements provide that each executive’s Annual Bonus shall be paid in the form of cash. Formulaic Bonus . With respect to the Formulaic Bonus, for each performance period the target amount of the Formulaic Bonus (the “Target Formulaic Bonus”) for each executive is equal to 75% of such executive’s Overall Target Bonus. Based on his Overall Target Bonus for the 2024 Performance Period, Mr. Knutson’s Target Formulaic Bonus was $1,500,000, and Mr. Wulfsohn’s Target Formulaic Bonus was $825,000. The Employment Agreements provide that each executive is eligible to receive from zero to 200% of his respective Target Formulaic Bonus (i.e., for the 2024 Performance Period, up to $3,000,000 in the case of Mr. Knutson and up to $1,650,000 in the case of Mr. Wulfsohn). The actual amount of the Formulaic Bonus to be paid to each executive is based on the objective measures determined by the Compensation Committee for the applicable performance period relative to threshold, target, and maximum performance goals established by the Compensation Committee for each performance period. IRM Bonus . With respect to the IRM Bonus, for each performance period the target amount of the IRM Bonus (the “Target IRM Bonus”) for each executive is equal to 25% of such executive’s Overall Target Bonus. Based on his Overall Target Bonus for the 2024 performance period, Mr. Knutson’s Target IRM Bonus was $500,000, and Mr. Wulfsohn’s Target IRM Bonus was $275,000. The Employment Agreements provide that each executive will be eligible to receive from zero to 200% of his Target IRM Bonus (i.e., for the