Company: CIMO
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001206774-25-000244
Chunk: 50

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 50
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-year Treasury note rates plus
100 basis points during the performance measurement period and (ii) the 25 percentile performance of the iShares
Mortgage Real Estate ETF constituents, which was -43% during the performance measurement period.

The Company’s Relative
Economic Return over the three-year performance measurement period was 20th among the companies included in the iShares Mortgage Real
Estate ETF, placing the Company at the 41 percentile.

| Relative Economic Return Goals |                    |
| Relative Economic Return       | % of Target Earned |
| Less than the threshold        | 0%                 |
| 50th percentile                | 100%               |
| 75th percentile or above       | 200%               |

Based on this performance, the number
of 2022-2024 PSUs earned was 62.4% of target:

| 2022 PSU Bonus Earned Amounts |                |                |
|                               | 2022-2024 PSUs | 2022-2024 PSUs |
| Name                          |     Target (#) |     Actual (#) |
| Phillip J. Kardis II          |         10,782 |          6,728 |
| Subramaniam Viswanathan       |          8,168 |          5,097 |
| Choudhary Yarlagadda          |         12,939 |          8,074 |

Dividend Equivalents on RSUs and PSUs. Awards of RSUs and PSUs will accrue dividend equivalents (as additional stock units) as if the awards were outstanding shares
of our common stock, but the dividend equivalents will be paid only if and to the extent the underlying award becomes earned and vested.
Because we are a mortgage REIT, dividends are a key component of our total shareholder return. The compensation committee believes that
allowing dividend equivalents to accrue on outstanding awards will further focus our named executive officers on achieving net income
goals and returning earnings to our stockholders through dividends.

Departure and Addition of Officers

As previously disclosed, on January
10, 2024, the Company and Mr. Yarlagadda mutually agreed that Mr. Yarlagadda would retire from employment with the Company and resign
from the Board of Directors effective no later than March 31, 2024. On mutual agreement of the Company and Mr. Yarlagadda, he retired
on March 15, 2024 (the “Separ