Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 104

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 5
Chunk 104
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923 $47,289 $(265,083)Basic weighted average common shares outstanding103,489 102,215 103,153 Basic Earnings/(Loss) per Share$0.83 $0.46 $(2.57)Diluted Earnings/(Loss) per Share:Net income/(loss) to common stockholders - basic$85,923 $47,289 $(265,083)Dividends, dividend equivalents and undistributed earnings allocated to participating securities— — — Interest expense on Convertible Senior Notes— — — Net income/(loss) to common stockholders - diluted$85,923 $47,289 $(265,083)Basic weighted average common shares outstanding103,489 102,215 103,153 Unvested and vested restricted stock units1,613 1,363 — Effect of assumed conversion of Convertible Senior Notes to common shares— — — Diluted weighted average common shares outstanding (1)105,102 103,578 103,153 Diluted Earnings/(Loss) per Share$0.82 $0.46 $(2.57)(1)At December 31, 2024 and 2023, the Company had approximately 324,000 and 223,000 equity instruments outstanding that were excluded from the calculation of diluted EPS for the years ended December 31, 2024 and 2023, respectively, as they were determined to be anti-dilutive. These equity instruments reflect RSUs (based on current estimate of expected share settlement amount) with a weighted average grant date fair value of $10.94 and $8.00, respectively.  These equity instruments may have a dilutive impact on future EPS.  During the year ended December 31, 2024, the Convertible Senior Notes were determined to be anti-dilutive and were excluded from the calculation of diluted EPS under the “if-converted” method.  Under this method, the periodic interest expense for dilutive notes is added back to the numerator and the weighted average number of shares that the notes are entitled to (if converted, regardless of whether the conversion option is in or out of the money) are included in the denominator for the purpose of calculating diluted EPS.

12.    Equity Compensation and Other Benefit Plans 

 (a)  Equity Compensation Plan  In accordance with the terms of the Company’s Equity Plan,