Craig L. Knutson has been at the forefront of MFA Financial, Inc. since mid-2017, where he is currently the CEO and President. Born in 1959, he brings over 30 years of experience in finance and mortgage trading to the table. He joined MFA Financial in 2008 as an executive vice president and quickly climbed the ranks to become Co-CEO. Notably, he assumed the role of sole CEO after the passing of a previous leader. Under his leadership, MFA has focused on maintaining strong performance metrics, including Adjusted Return on Average Equity, which is critical in their sector. His financial acumen was highlighted during the COVID-19 pandemic when he received a bonus reflecting his significant contribution and leadership during a tough time. Knutson emphasizes aligning executive pay with company performance, reinforcing a culture that drives shareholder value. He's crafted a compensation strategy that rewards executives based on individual and overall company performance. Despite the intense scrutiny of financial professionals, Knutson has remained a steady hand at MFA, steering the company through changing market conditions with proven expertise.

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Craig L. Knutson

Ex-CEO of MFA Financial

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Real Estate

Born

January 1, 1959 - 66 years ago

CEO of MFA Financial for

7 years 3 months (Aug 2017 - Nov 2024)

Previous Experience

President and COO

Rivals

Competitors/colleagues of Craig L. Knutson

Phillip J. Kardis II

CEO of Chimera Investment Corp.

2023 Compensation

Stock

$1.68M

Salary

$850.00K

Bonus

$0.00

Other

$19.80K

Total Holdings

$6.46M

Andrew J. Sossen

CEO of Starwood Property Trust

2023 Compensation

Stock

$608.18K

Salary

$425.00K

Bonus

$0.00

Other

$0.00

Total Holdings

$3.65M

Michael Nierenberg

CEO of Rithm Capital

2023 Compensation

Stock

$1.79M

Salary

$1.25M

Bonus

$10.00M

Other

$160.04K

Total Holdings

$27.00M

Anastasia Mironova

CEO of Apollo Commercial Real Estate Finance

2023 Compensation

Stock

$149.99K

Salary

$329.84K

Bonus

$470.01K

Other

$50.42K

Total Holdings

$289.41K

David L. Finkelstein

CEO of Annaly Capital Management

2023 Compensation

Stock

$2.59M

Salary

$1.00M

Bonus

$7.33M

Other

$15.20K

Total Holdings

$14.85M

Holdings

See how much did Craig L. Knutson make over time.

Craig L. Knutson’s holdings in MFA Financial reflect a strategic approach to personal wealth tied closely to company performance. At times, his wealth has fluctuated based on stock performance, even witnessing peaks when the company thrived. For example, in 2019, he realized over $3 million from vested stock awards, showcasing his alignment with shareholders. In contrast, recent years have seen his focus shift towards performance-based bonuses rather than equity holdings. In 2023, he received a total compensation package of about $6.4 million, primarily driven by a solid annual bonus that demonstrated the company's strong performance metrics. However, it's notable that he has no vested stock from recent grants, suggesting a more cash-driven compensation structure as he navigates MFA's financial landscape. His position illustrates the balance between equity and immediate reward for executives in today's markets.

Total Stock Sold

$1.20K

MFA

$1.20K

18.201 MFA shares

What if they kept their stock?

If Craig L. Knutson didn't sell their stock, today they would have:
Extra MFA18.201 shares worth $135.42.
This is -88.69% and $1.06K less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Craig L. Knutson.

MFA

$26.71K

MFA at $10.81/share

Sep 14, 2022

Purchase

MFA

$302.14

MFA at $4.15/share

Dec 31, 2021

Sale

MFA

158,197 shares

MFA

Dec 18, 2019

Received

MFA

73 shares

MFA

Dec 18, 2019

Inheritance

MFA

176,952 shares

MFA

Dec 21, 2018

Received

MFA

$58.36K

MFA at $7.30/share

Feb 21, 2018

Purchase

MFA

71,924 shares

MFA

Dec 20, 2017

Received

MFA

139,618 shares

MFA

Dec 14, 2016

Received

MFA

138,236 shares

MFA

Dec 9, 2015

Received

MFA

$16.89K

MFA at $6.76/share

Nov 9, 2015

Purchase

Compensation History

See how much did Craig L. Knutson make over time.

In 2023, Craig L. Knutson's total compensation reached approximately $6.4 million, reflecting a well-rounded package that combines a solid salary of $800,000 with a substantial bonus of $625,000. This bonus was a notable 125% of the target, reflecting strong individual and company performance. He has consistently earned similar bonuses over the years, like receiving $1.1 million in 2020 during the pandemic, which shows the company recognized his exceptional leadership during challenging times. His compensation is designed to attract and keep top talent by linking rewards directly to performance metrics that matter, like Adjusted Distributable Earnings. While he received no stock grants in 2022 and 2023, the total package indicates a strategic focus on cash rewards that align with company outcomes, all part of a broader philosophy of aligning executive pay with success, which is crucial in the finance sector.

Year

2023

Total Compensation

$1.44M

Salary

$800.00K

Board Justification

The compensation philosophy aims to align executive compensation with company performance, focusing on attracting, motivating, and retaining top talent while ensuring competitive pay.

Bonus

$625.00K

Board Justification

The IRM Bonus was determined by the Compensation Committee based on individual performance and overall company performance, resulting in a payout of 125% of the target IRM Bonus for 2023.

Other

$13.20K

Board Justification

Employer matching contributions under the 401(k) Plan.

Restricted Stock

$0.00(0 TRSU and PRSU)

Board Justification

No stock was vested in 2023 as the TRSUs and PRSUs granted in January 2023 have not yet vested.

Performance Metrics

Adjusted Distributable Earnings ROAE and Adjusted GAAP ROAE were the primary performance metrics used to determine the annual incentive compensation.

Other MFA Financial CEOs

Here are other CEOs of MFA Financial

William S. Gorin

Ex-CEO of MFA Financial

January 2014 - August 2017