Company: MFAN
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001140361-25-014577
Chunk: 86

Company: MFA FINANCIAL, INC.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 86
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 31, 2024, under various scenarios, including a change in control. The tables include only the value of the incremental amounts payable to the Named Executive Officer arising from the applicable scenario and do not include the value of vested or earned, but unpaid, amounts owed to the applicable Named Executive Officer as of December 31, 2024 (including, for example, any annual bonus earned but not yet paid as of such date, dividend equivalents relating to dividends declared but not paid as of such date, vested but not settled TRSUs or PRSUs, or the employer 401(k) match of $13,800 for the Named Executive Officers). The footnotes to the tables describe the assumptions used in estimating the amounts shown in the tables. As used below, the terms “Cause,” “Change in Control,” “Disability,” and “Good Reason” shall have the respective meanings set forth in the applicable employment agreement or other agreement, each of which has been filed with the SEC, or award agreement(s), forms of which have been filed with the SEC. Because the payments to be made to a Named Executive Officer depend on several factors, the actual amounts to be paid out upon a Named Executive Officer’s termination of employment can only be determined at the time of the executive’s separation from the Company.

| MFA Financial, Inc. | 66 | 2025 Proxy Statement |

TABLE OF CONTENTS

Potential Payments upon Termination of Employment/CIC: C. L. Knutson

|                                               |     |      Death 
          $ 
        (a) |     | Disability 
          $ 
        (a) |     |     Termination 
  Without Cause/ 
 Resignation for 
     Good Reason 
               $ 
             (b) |     |    Voluntary 
 Resignation/ 
   Retirement 
            $ 
          (c) |     |  Change in 
    Control 
          $ 
        (d) |
| Incremental Benefits Due to Termination Event |     |            |     |            |     |                 |     |              |     |            |
| Severance/Payment to Representative or Estate |     |  3,050,000 |     |  3,050,000 |     |       6,100,000 |     |      200,000 |     |  6,100,000 |
| Value of Accelerated Equity Awards(1)         |     |  8,481,208 |     |