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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 10, 2020

 

MFA FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

 

Maryland   1-13991   13-3974868

(State or other jurisdiction

of incorporation
or organization)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

350 Park Avenue, 20th Floor    
New York, New York   10022
(Address of principal executive offices)   (Zip Code)

 

Registrant's telephone number, including area code: (212) 207-6400

 

Not Applicable

 

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class:  

Trading
Symbols:

 

Name of each
exchange on which
registered:

Common Stock, par value $0.01 per share   MFA   New York Stock Exchange

7.50% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share

  MFA/PB   New York Stock Exchange
6.50% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share   MFA/PC   New York Stock Exchange
8.00% Senior Notes due 2042   MFO   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

 

(e) On June 10, 2020, MFA Financial, Inc. (the “Company”) held its 2020 Annual Meeting of Stockholders (the “Annual Meeting”), at which the Company's stockholders approved the Company’s Equity Compensation Plan (the “Equity Compensation Plan”), which is an amendment and restatement of the Company’s previous equity compensation plan.  The Equity Compensation Plan became effective upon the approval of the Company’s stockholders at the Annual Meeting (see Item 5.07 below).

 

The Equity Compensation Plan is intended to provide incentives to key officers and employees and directors of the Company and others expected to provide significant services to the Company and its subsidiaries to encourage a proprietary interest in the Company, to retain current employees and attract new employees to the Company and to provide additional incentives to others to increase their efforts in providing significant services to the Company and its subsidiaries.

 

A description of the material terms of the Equity Compensation Plan is included in the Company’s definitive proxy statement (the “Proxy Statement”) filed with the Securities and Exchange Commission on April 27, 2020 under the heading “4. Approval of the MFA Financial, Inc. Equity Compensation Plan, as Amended and Restated” and is incorporated herein by reference. A copy of the Equity Compensation Plan, which is attached to the Proxy Statement as Appendix A, is filed as Exhibit 10.1 to this Form 8-K and is also incorporated herein by reference.

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

 

As indicated above, on June 10, 2020, the Company held its Annual Meeting. The Annual Meeting was held for the purpose of: (i) electing three Class I directors to serve on the Board until the 2023 Annual Meeting of Stockholders and until their successors are duly elected and qualify; (ii) considering and voting on the ratification of the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020; (iii) considering and voting on an advisory (non-binding) resolution to approve the Company’s executive compensation and (iv) considering and voting on the Company’s Equity Compensation Plan.

 

As disclosed in the Company’s proxy statement, dated April 27, 2020, as of March 27, 2020 (the record date for stockholders of the Company entitled to notice of and to vote at the Annual Meeting), the Company had issued and outstanding 453,115,673 shares of common stock, each of which was entitled to one vote at the Annual Meeting. A quorum of 385,657,315 shares of common stock of the Company, which represented approximately 85.1% of the issued and outstanding shares of common stock, was present in person or by proxy at the Annual Meeting.

 

 

 

 

The final voting results for each of the proposals submitted to a vote of stockholders at the Annual Meeting are set forth below.

 

Proposal 1. The three nominees for election to the Board were elected to serve on the Board until the 2023 Annual Meeting of Stockholders and until their successors are duly elected and qualify, based on the following votes:

 

Name of Class I                     Broker  
Nominee   For     Against     Abstain     Non-Votes  
Laurie S. Goodman     284,907,935       6,583,529       1,132,342       93,033,509  
Craig L. Knutson     285,406,854       6,102,993       1,113,959       93,033,509  
Richard C. Wald     285,849,746       5,572,040       1,202,020       93,033,509  

 

As indicated above, each of the nominees for director received over a majority of votes cast on a per director basis and therefore has been duly elected to serve as a Class I director of the Company.

 

Proposal 2. The ratification of the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020, was approved, based on the following votes:

 

For     Against     Abstentions  
  374,545,258       7,947,959       3,164,098  

 

Proposal 3. The proposal to consider, on an advisory (non-binding) basis, the Company’s executive compensation was approved, based on the following votes:

 

For     Against     Abstentions     Broker Non-Votes  
  276,459,067       13,876,353       2,288,386       93,033,509  

 

 

 

 

Proposal 4. The proposal to consider the Company’s Equity Compensation Plan (which amended and restated of the Company’s previous equity compensation plan) was approved, based on the following votes:

 

For     Against     Abstentions     Broker Non-Votes  
  276,274,549       13,959,926       2,389,331       93,033,509  

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits

 

10.1 MFA Financial, Inc. Equity Compensation Plan
  104 Cover Page Interactive Data File (formatted as Inline XBRL).

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.   Description
10.1   MFA Financial, Inc. Equity Compensation Plan
104   Cover Page Interactive Data File (formatted as Inline XBRL).

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  MFA FINANCIAL, INC.
  (REGISTRANT)
   
  By: /s/ Harold E. Schwartz
    Name: Harold E. Schwartz
    Title: Senior Vice President and General Counsel

 

Date: June 12, 2020

 

 

 

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