Company: TWO-PC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001465740-25-000152
Chunk: 231

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 8
Chunk 231
---
 by any combination of such methods. The manner, price, number and timing of preferred share repurchases are subject to a variety of factors, including market conditions and applicable SEC rules. The preferred share repurchase program does not require the purchase of any minimum number of shares, and, subject to SEC rules, purchases may be commenced or suspended at any time without prior notice. The preferred share repurchase program does not have an expiration date.

39

Table of ContentsTWO HARBORS INVESTMENT CORP.Notes to the Consolidated Financial Statements (unaudited)

The following table summarizes the Company’s purchases of its 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, 7.625% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock and 7.25% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock under the preferred share repurchase program during the nine months ended September 30, 2024. No shares of the Company’s preferred stock were repurchased during the three and nine months ended September 30, 2025 or the three months ended September 30, 2024.Nine Months Ended(dollars in thousands)September 30, 2024Class of StockNumber of SharesAggregate CostSeries A Preferred Stock35,047 $809 Series B Preferred Stock280,060 $6,370 Series C Preferred Stock170,502 $3,923 Total(1)485,609 $11,102 ____________________(1)The difference between the aggregate cost and the carrying value of the preferred stock repurchased resulted in a total gain attributable to common stockholders of $0.6 million for the nine months ended September 30, 2024.Common StockAs of September 30, 2025, the Company had 104,155,818 shares of common stock outstanding. The following table presents a reconciliation of the common shares outstanding for the three and nine months ended September 30, 2025 and 2024:Three Months EndedNine Months EndedSeptember 30,September 30,2025202420252024Common shares outstanding, beginning of period104,132,453 103,622,239 103,680,321 103,206,457 Issuance of common stock6,057 4,414 18,275 12,439 Non-cash equity award compensation (1) 17,308 23