ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. Now with respect to our hedges, we added to our swap portfolio primarily in the front end and short-term swaps with pay rates close to 0% providing attractive hedge to our financing. Mr. Reeves is a member of the Henry Crown Fellows at the Aspen Institute and was honored as a Chicago United Business Leader of Color. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. Despite the challenging environment, we're pleased with how the portfolio has performed during the period ending the quarter essentially unchanged at $2.2 billion in assets. The improvement in singles that the market currently believes that the majority of forbearance cases, which have stabilized over the past couple of months will ultimately be resolved. Consisting of $22 million of additional reserves during the quarter primarily resulting from the impacts of COVID-19 on our [indiscernible] and more general reserves related to forecast for a deterioration in economic conditions and market values of $46.8 million. Unit tranches and second lean loans within middle-market are experiencing more notable price discovery than its larger market blathering and we expect these gaps to remain as traditional middle-market participants grapple with their portfolios. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. Mr. Hamilton has served as a Director of Larimar Therapeutics, Inc., a clinical-stage biotechnology company focused on developing treatments for rare complex diseases, since May 2020 when Chondrial Therapeutics, Inc. merged with Zafgen, Inc. and the combined company began operating as Larimar. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Annaly Capital Management, Inc. (NYSE:NLY) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ETCompany Participants. Vice ChairRisk Committee (Chair)Corporate Responsibility Committee. California Weighs $360,000 in Reparations to Eligible Black Residents. NEW YORK -- (BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report for the year 2021, titled Taking Stock of Our Impact. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. Yes the TBA role provided about $97.5 million post NIM for the quarter. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. 1 dividend stock for a LIFETIME of income. Mr. Reeves serves on the boards of several DCM portfolio companies and funds as well as on the Advisory Board of Ozinga Bros. His civic and philanthropic commitments include trusteeships at Rush University Medical Center and the National Philanthropic Trust. From 1991 through 2005, Ms. Bovich served as the U.S. Representative to the United Nations Investment Committee, which advised a global portfolio of approximately $30 billion. david finkelstein annaly compensation. David L. Finkelstein C.F.A. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York as well as a member of the Financial Sector Advisory Council of the Federal Reserve Bank of Dallas. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. In the latest report, the Company included additional disclosures outlining climate-related risks and opportunities across its business in the short-, medium- and long-term horizons following the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following board members on its annual proxy statement to the SEC. Mr. Campbell currently serves on the Advisory Board for the Fitzgerald Institute of Real Estate at the University of Notre Dame. David Finkelstein - President, CEO & Director. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group of the Federal Reserve Bank of New York where he was the primary strategist and policy advisor for the MBS Purchase Program. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). in Finance and Economics from Kean University/University of Arizona, a M.B.A in Finance from Rutgers University and attended the Executive Education Program of the Colgate W. Darden Graduate School of Business Administration at the University of Virginia. Also as David mentioned, our internalization transaction closed at the end of the quarter and we anticipate generating cost savings over the long time as we embark on being an internally managed company. I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation The most recent stock trade was executed by Anthony C Green on 1 February 2023, trading 1,584 units of NLY stock currently worth $32,203. Consequently, we reduced leverage during the quarter from 6.8 times to 6.4 times and made the prudent decision to set our quarterly dividend at $0.22. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. Coronavirus Tips Working and Protection. in International and Comparative Law from Cornell Law School. However, non-agency lending has been somewhat slow to redevelop as credit standards have tightened relative to pre-pandemic underwriting and mortgage originators tend to focused more on agency originations in light of fewer frictions in a wide primary secondary spread. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Please go ahead. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. Mr. Haylon has previously served on the boards of Aberdeen Asset Management and Phoenix Investment Partners. Turning to earnings, the largest factor quarter-over-quarter to quote an ex-PAA will lower interest expense of $186 million versus $503 million in the prior quarter due to lower average repo rates and balances as well as higher TBA [indiscernible] income of $96 million versus $44 million in the prior quarter, due to higher average balances partially offset by higher expense from the net interest component of interest-rate swaps of $65 million visits $14 million in the prior quarter and higher average balance. in Education with a concentration in mathematics education and an M.B.A. with a concentration in finance and quantitative statistics, each with honors from the University of Georgia. company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. NEW YORK, June 09, 2022--Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report for the year 2021 . We have to look at how attractive assets are and then put that in the context of where thee stock prices make a buyback decision based on that. You may also find the annual proxy statement by going directly to the company's website. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Mr. Finkelstein also holds the Chartered Financial Analyst designation. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. 2015. Liquidity tools have sufficiently supported funding markets and credit facilities have opened channels to credit for businesses, households and local governments, the temporary adjustments to regulations have somewhat encouraged bank lending and most impactful to Annaly's portfolio the asset purchases have supported the smooth functioning of treasury and agency markets. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. We also continue to take advantage of the attractive low levels of volatility to hedge the tail risk of a sharp rise in rates in the long end of the yield curve and as such, we replaced much of our legacy swaps in position with additional out of the money payers options. Now in terms of amortization of the cost, I'll give you the MSR for example, which mimics the derivates portfolio. Mr Finkelstein owns over 6,186 units of Annaly Capital Management Inc stock worth over $8,163,735 and over the last 6 years he sold NLY stock worth over $0. was elected to serve as an independent director of Annaly in February 2019. Mr. Haylon has served as a Managing Director at Conning, Inc. since January 2012 and previously served as Head of Asset Management Sales, Products and Marketing from December 2014 until June 2018 and as Head of Investment Products from January 2012 until December 2014. In Blacklisting Inspur, US Targets Partner Used by Intel and IBM, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Bolsonaro Says Mission Isnt Over as US Conservatives Fete Him, Biden Closes In on Order to Restrict US Investment in China Tech, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. Our efficiency metrics changed modestly relative to Q1 being 2.1% of equity for the second quarter in comparison to 1.98%. Annaly Capital Management Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, insiders at Annaly Capital Management Inc, Stocks and cryptocurrency portfolio tracker. David L. Finkelstein is Chief Executive Officer and President of Annaly. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. And with that, I'll turn it over to operator for questions. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Everyone at Annaly contributes to our success and we're proud of the results that we've reported for the second quarter and expect to continue providing best in class results for our shareholders. Overall we feel good about conservative positioning in the portfolio across sectors and the strength of our relationships with best in class sponsors and operating partners to mitigate in further disruption. This button displays the currently selected search type. Okay. Mr. Finkelstein has over 25 years of experience in fixed income investments. My No. Thanks Brendon for your help and we hope everybody stay safe. . Prior to joining NBCUniversal, Ms. Williams was a Partner with Pay Governance LLC and a Principal with Towers Perrin (now Willis Towers Watson). Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Annaly Capital Management, Inc. (NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020 9:00 AM ET, David Finkelstein - CEO & Chief Investment Officer, Tim Gallagher - Head, Commercial Real Estate. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. The most recent stock trade was executed by Anthony C Green on 1 February 2023, trading 1,584 units of NLY stock currently worth $32,203. Management Development and Compensation Committee (Chair)Audit Committee. Ms. Denahan has a B.S. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Chief Executive OfficerChief Investment Officer. We add the incremental dollar role income to core income and then the outcome. That has largely taken delivery of the most negatively convex MBS, which has resulted in a shift to the TBA deliverable across production coupons to more newly originated pools and as a result, nominal carry on production coupons TBAs has improved dramatically thereby adding to returns for TBA holders. Things do look I think positive generally, but just wondering how you guys think about downside risk from here? in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Thanks for joining us today and we'll talk to you soon. We delivered an economic return of nearly 15% and achieved core earnings well in excess of our right size dividend. Nevertheless, financial conditions have improved considerably. ANNALY@brunswickgroup.com, Navigate to the << Back to in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. David Finkelstein, Annaly's Chief Executive Officer and Chief Investment Officer, commented: "Since 1997, Annaly has become the largest mortgage REIT in the world and delivered $24 billion in . This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. Mr. Schaefer was Executive Vice President and Chief Strategic and Administrative Officer of Morgan Stanley from 1998 to 2000. Mr. Reeves has also served as General Counsel & Secretary of The Duchossois Group, a family-owned holding company comprised of diversified operating companies and DCM, since 2007 and its Chief Administrative Officer since 2017. We continue to think it critical in the current environment to consider the address economic scenarios available in this process and to err on the side of conservatism given a significant uncertainty in the economic and market values scenarios. We have entered a more normalized environment with fed action serving as a key driver and spreads have retraced much the widening experienced in March we do remain positive on the sector given ample funding availability at low rates due to rate volatility and a complete reversal of an inferior technical backdrop that characterizes sector at the outset of this year. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. Okay. As David mentioned earlier, the stabilizing actions of the Fed coupled with our active portfolio management resulted in improved fed value of our agency assets and significant improvement in financial performance. investor@annaly.com, Brunswick Group Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. The information shown here is a reporting of information included in the company's proxy statement. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. On average, Mr trades about 51,067 units every 152 days since 2016. Thanks for that. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. Mr. Hamilton received a B.S. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Learn More on David L. Finkelstein's trading history. Mr. Campbell also worked at General Electric Capital Corporation and D.B. And prepay is obviously being the uncertainty and the risk which we I don't think you heard a lot about I'm sure this quarter and I think we managed prepay risk as well as anybody. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . We remain comfortable with our existing credit portfolios and the associated Cecil reserves and will continue to monitor specific asset performance and economic projections as we determine future reserves. As COO, Steve will expand on the work he's been doing as Head of Business Operations and work closely with the executive team to help oversee Annaly's overall operations and risk management functions. Now that being said, we are starting to get through this phase 2 as I mentioned last quarter where it's really about recalibrating each portfolio in the business and making sure we're optimizing each of the businesses and we're starting to get a better look at how things are going to unfold and we're seeing opportunities in credit and we're very strong constructive and it just may take a little bit of time to make sure we have the right approach and we have complete clarity on how things are going to play out. I'm curious how you guys are looking at this and especially in light of having cut the dividend earlier in the year? Musk Made a Mess at Twitter. in Economics from Connecticut College and an M.B.A. in Finance from New York University. Ms. Bovich is a member of The Economic Club of New York, and an emeritus trustee of Connecticut College and a Member of the Investment Sub-Committee for its endowment. Yeah I think prepay is kind of an obvious one outside of that. Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. He joined the firm in 2013 and assumed the role of Chief Investment Officer in 2016. So first of all with respect to the repositioning, what we experienced in the quarter was initially a pretty insignificant steepening of the curve, which we anticipated I think got to roughly 20 basis points to 25 basis points higher than it was now. As David touched on, our economic leverage declined to 6.4 times from 6.8 times quarter-over-quarter, which was mainly due to a decrease in repo balance of $5.4 billion and an increase in our equity-base of $1.1 billion that was partially offset by an increase in TBA contracts of $5.8 million and an increase in net payables for investments purchased of $1.5 billion. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Total core income is used to buy, Eric. The Agency group invests in agency mortgage-backed securities. Sorry, I think we're thinking about it a little differently, but yeah that's correct. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. As always we spent time analyzing the results of the reserve calculations and ensuring our expectations align with the quality of the portfolio and the performance of the borrowers. Mr. Schaefer received a B.B.A. Ms. Williams received a B.S. Mr. Votek holds a B.S. Thanks. Prior to joining Annaly in 2013 . This point was evidenced the quarter with the improvement in fair value measures and resulting improved book value. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including, but not limited to, risks and uncertainties related to the COVID-19 pandemic, including as related to adverse economic conditions on real estate-related assets and financing conditions (and our outlook for our business in light of these conditions, which is uncertain); changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability of mortgage-backed securities and other securities for purchase; the availability of financing and, if available, the terms of any financing; changes in the market value of our assets; changes in business conditions and the general economy; operational risks or risk management failures by us or critical third parties, including cybersecurity incidents; our ability to grow our residential credit business; the sale of our middle market lending business; credit risks related to our investments in credit risk transfer securities, residential mortgage-backed securities and related residential mortgage credit assets and corporate debt; risks related to investments in mortgage servicing rights; our ability to consummate any contemplated investment opportunities; changes in government regulations or policy affecting our business; our ability to maintain our qualification as a REIT for U.S. federal income tax purposes; and our ability to maintain our exemption from registration under the Investment Company Act. Click here to read the full letter and more from Annaly's 2020 Annual Report. Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). Mr. Finkelstein received a B.A. As the Pres and CEO & Director of Annaly Capital Management Inc, the total compensation of Mr A at Annaly Capital Management Inc is $8,203,772.