Company: TWO-PC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001465740-25-000090
Chunk: 48

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 48
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,993 |
|                     |     | 2021 Plan, PSUs             |     |         |     |            |     | January 8, 2024 |                            8,005 |     |  21,346 |     |  42,692 |     |                                                      |            |     |                         |     |         |                                              |   $345,592 |
|                     |     | Non-Equity Annual Incentive |     |         |     |            |     |                 |                                  |     |         |     |         |     |                                                      |   $222,475 |     |                         |     |         |                                              |            |

(1) Mr. Dellal was not granted any plan-based awards during the fiscal year ended December 31, 2024.

(2) PSUs are granted under the 2021 Plan and subject to vesting following a three-year performance period subject to achievement of pre-established performance goals. Performance payouts range from 0% to 200% of target based on actual performance achieved.

(3) Represents the actual annual cash incentive compensation earned in connection with the 2024 performance year, which was awarded and paid in January 2025. See also “ Annual Incentive Compensation ” beginning on page 29 .

(4) RSUs are granted under the 2021 Plan and vest in three equal annual installments beginning on the first anniversary of the grant date, so long as the officer complies with the terms and conditions of their RSU agreement.

(5) This column shows the full grant date fair value of the RSUs under ASC Topic 718. Generally, the full grant date fair value is the amount we would expense in our financial statements over the award's vesting period. See Note 18 to the audited consolidated financial statements in our Annual Report on Form 10-K regarding assumptions underlying valuation of equity awards. The grant date fair value for the RSUs is based on the $14.17 closing market price of our common stock on the NYSE on the January 8, 2024 grant date. The grant date fair value of the PSUs assumes performance achieved at 100% of target and calculated based on the $16.19 per share price determined using a Monte Carlo simulation on the January 8, 2024 grant date.

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Outstanding Equity Awards at Fiscal Year-End for 2024

The following table sets forth information concerning unvested restricted stock units