Company: MFAN
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001140361-25-014577
Chunk: 66

Company: MFA FINANCIAL, INC.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 66
---
 by the Company, he received an annualized base salary of $625,000, which was unchanged from his 2023 annualized base salary. In January 2024, Mr. Kristjansson received an award of 61,334 TRSUs (with a grant date fair value equal to $690,008) and 99,499 PRSUs (with a grant date fair value equal to $1,035,009), in each case, on the same terms and conditions as applied to the other Named Executive Officers. Mr. Kristjansson did not receive any annual incentive compensation for 2024 on account of his termination of employment. Pursuant to the terms of the employment agreement between the Company and Mr. Kristjansson, Mr. Kristjansson became entitled to receive certain payments and other benefits as a result of his termination in exchange for his delivery to the Company of a release of claims. More particularly, in accordance with the terms of his employment agreement, Mr. Kristjansson will receive cash severance in the aggregate amount of $2,540,625 payable in accordance with MFA’s usual payroll practices through May 2026. In addition, under the terms of his employment agreement, Mr. Kristjansson vested in (i) 21,787 TRSUs and (ii) 17,773 PRSUs (based on the achievement of applicable performance metrics), each of which were granted to him in January 2022. Further, under the terms of his employment agreement, Mr. Kristjansson will be eligible to vest on a pro rata basis in the PRSUs granted to him in each of January 2023 and January 2024, subject in the case of each grant to the achievement of the applicable performance metrics for the three-year performance period relating to each grant. Upon the termination of his employment, Mr. Kristjansson forfeited all other unvested TRSUs and PRSUs that had been previously granted to him, including all TRSUs granted to him in each of January 2023 and January 2024. Mr. Kristjansson is also eligible for reimbursement of up to $54,648 for health insurance premiums for him and his family for the twelve-month period through November 2025 to the extent he is not eligible to participate in the health insurance plan of a subsequent employer. Other Features of Our Executive Compensation Program Use of Employment Agreements. We have historically used written employment agreements with certain of our executive officers to evidence our mutual understanding