Company: MFAN
Filing Date: 2025-11-18
Form Type: S-8
Source: 0001104659-25-113670
Chunk: 1

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-18
Form: S-8
Chunk 1
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 financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨

<div align='center'>EXPLANATORY NOTE</div>

MFA Financial, Inc. (the “Company,”
“we” or “our”) is filing this registration statement on Form S-8 to register 5,500,000 additional shares
of our common stock, par value $0.01 per share (the “Common Stock”), issuable pursuant to the MFA Financial, Inc. Equity
Compensation Plan (the “Plan”), as amended and restated on June 3, 2025.

The Company previously filed the following registration
statements on Form S-8 relating to shares of Common Stock issuable under earlier versions of the Plan: (i) the Company’s
Equity Compensation Plan (File Nos. 333-205105 and 333-272959) filed by the Company and effective on June 19, 2015 and June 27,
2023, respectively, (ii) the Company’s Amended and Restated 2010 Equity Compensation Plan (File No. 333-167107) filed
by the Company and effective on May 26, 2010, (iii) the Company’s 2004 Equity Compensation Plan (File No. 333-121365)
filed by the Company and effective on December 17, 2004, and (iv) the Company’s 1997 Stock Option Plan (File Nos. 333-39772
and 333-67758) filed by the Company and effective on June 21, 2000 and August 17, 2001, respectively. The contents of these
previously filed registration statements are hereby incorporated by reference herein.

Including the 5,500,000 additional shares registered
hereunder, approximately 13.2 million shares of Common Stock are reserved for issuance under the Plan.

<div align='center'>PART I

INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</div>

| Item 1. | Plan Information.* |

| Item 2. | Registrant Information and Employee Plan Annual Information.* |

* As permitted by Rule 428 under the Securities Act this registration
statement omits the information specified in Part I of Form S-8. The documents containing the information specified in Part I
of Form S-8 will be sent or given to employees as specified by Rule 428(b)(1) of the Securities Act. These documents need