Mei Lin - Dec 31, 2021 Form 3 Insider Report for MFA FINANCIAL, INC. (MFA)

Role
Sr. VP & Co-Controller
Signature
/s/ Mei Lin
Stock symbol
MFA
Transactions as of
Dec 31, 2021
Transactions value $
$0
Form type
3
Date filed
1/7/2022, 06:00 PM
Next filing
Jan 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding MFA Common Stock, par value $0.01 per share 2.06K Dec 31, 2021 Direct
holding MFA 7.5% Series B Cumulative Redeemable Preferred Stock 0 Dec 31, 2021 Direct
holding MFA 6.5% Series C Fixed- to-Float Rate Cum Redeem Pfd Stk* 0 Dec 31, 2021 Direct
holding MFA Common Stock, par value $0.01 per share 21.1K Dec 31, 2021 By spouse
holding MFA 7.5% Series B Cumulative Redeemable Preferred Stock 0 Dec 31, 2021 N/A
holding MFA 6.5% Series C Fixed- to-Float Rate Cum Redeem Pfd Stk* 0 Dec 31, 2021 N/A

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding MFA Phantom Shares Dec 31, 2021 Common Stock 18.6K Direct F1, F2
holding MFA Phantom Shares Dec 31, 2021 Common Stock 6K Direct F2, F3, F4
holding MFA Phantom Shares Dec 31, 2021 Common Stock 6K Direct F2, F4, F5
holding MFA Phantom Shares Dec 31, 2021 Common Stock 20.6K Direct F2, F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Of the amount reported, 4,000 phantom shares vested on December 31, 2021; 4,000 phantom shares are scheduled to vest, subject to forfeiture, on December 31, 2022; and 10,639 phantom shares are scheduled to vest, subject to forfeiture, on December 31, 2023. Phantom shares will be settled in an equivalent number of shares of MFA common stock within 30 days following the vesting date.
F2 Each phantom share represents the right to receive one share of MFA Financial, Inc. common stock.
F3 These phantom shares are performance-based equity awards. The number of phantom shares reported represents the "target" number of phantom shares granted. The number of underlying shares of MFA common stock that the recipient becomes entitled to receive at the time of vesting will generally range from 0% to 200% of the target number of phantom shares granted, subject to the achievement of a pre-established performance metric. These phantom shares were granted on February 1, 2019, and their vesting is based on MFA's absolute total stockholder return (TSR) and MFA's TSR as compared to the TSR of a designated peer group of companies, in each case for the three years ended December 31, 2021. The number of phantom shares to vest will be determined in January 2022.
F4 The number of phantom shares to vest will be adjusted to reflect the value of any dividends paid on MFA's common stock during the vesting period in respect of the number of phantom shares that ultimately vest. The phantom shares will be settled in an equivalent number of shares of MFA common stock within 30 days following the vesting date.
F5 These phantom shares are performance-based equity awards. The number of phantom shares reported represents the "target" number of phantom shares granted. The number of underlying shares of MFA common stock that the recipient becomes entitled to receive at the time of vesting will generally range from 0% to 200% of the target number of phantom shares granted, subject to the achievement of a pre-established performance metric. These phantom shares were granted on February 10, 2020, and their vesting will generally occur on December 31, 2022, based on MFA's absolute total stockholder return (TSR) and MFA's TSR as compared to the TSR of a designated peer group of companies, in each case for the three years then ended.
F6 These phantom shares are performance-based equity awards. The number of phantom shares reported represents the "target" number of phantom shares granted. The number of underlying shares of MFA common stock that the recipient becomes entitled to receive at the time of vesting will generally range from 0% to 200% of the target number of phantom shares granted, subject to the achievement of a pre-established performance metric. These phantom shares were granted on January 4, 2021, and their vesting will generally occur on December 31, 2023, based on MFA's absolute total stockholder return (TSR) and MFA's TSR as compared to the TSR of a designated peer group of companies, in each case for the three years then ended.

Remarks:

*6.5% Series C Fixed- to-Floating Rate Cumulative Redeemable Preferred Stock