Wald Richard C. 4

What Happened
Richard C. Wald, a director of MFA Financial, was granted 16,448 restricted stock units (RSUs) on 2026-06-08. The Form 4 reports the award as an acquisition (code A) at $0.00 — these are derivative awards (not an open-market purchase or sale). The filing does not report a cash value on the form; the RSUs represent the right to receive MFA common shares.

Key Details

• Transaction date: 2026-06-08; Form 4 filed: 2026-06-10 (filed within the typical two-business-day window).
• Security: 16,448 RSUs (reported as derivative securities), reported acquisition price $0.00.
• Shares owned after transaction: not reported on this Form 4.
• Footnotes: (1) Each RSU equals the right to receive one share of MFA common stock. (2) The RSUs were fully vested as of the grant date and will be settled in an equivalent number of shares on the earlier of (a) the reporting person’s termination of service as a director or (b) on or about January 15, 2032, except in certain circumstances.

Context
RSU grants are awards of future share rights rather than immediate purchases; although these RSUs are fully vested, they will be converted into shares only upon the stated settlement events. Awards to directors are common compensation and do not by themselves indicate a buy or sell signal; they differ from open-market purchases, which may be a clearer indicator of an insider’s market view.