Please go ahead. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Mr. Finkelstein earned a salary of $1,000,000.00, a bonus of $6,325,000.00, stock awards of $1,800,001.00, and other compensation of $13,763.00. Is this happening to you frequently? and LL.M. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. I was wondering if you could talk a little bit more about the thought process around the hedge repositioning in the quarter, adding more hedges on the short end of the curve and then I guess should we expect more options hedging going forward. Ms. Williams previously served as Senior Vice President, Compensation, Benefits and HRIS at NBCUniversal beginning in 2011. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. 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. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. Actual events and results may differ materially from these forward-looking statements. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. And with that, I'll turn it over to operator for questions. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe Book value increased our GAAP net income of $856 million or $0.58 per share, which includes $0.05 related to Cecil and specific reserves and higher other comprehensive income of $721 million or $0.51 per share on improved valuations on agency MBS resulting from lower market rates. So we like to see it flatten a little bit further and we think it should given the posture the fed and when you look at the last set of economic projections, so lift off not likely to occur for the next couple of years, you could see some further flattening in the term curve but we're watching it and we're making incremental steps to term out our repo. Our measured approach to weathering the crisis served us well we feel very good about our positioning as the recovery progresses as I'll get into more detail. Highlights and achievements from the 2021 Corporate Responsibility Report include: To learn more about Annalys corporate responsibility initiatives and to view the 2021 Corporate Responsibility Report, please visit www.annaly.com/our-responsibility. Thanks Brendon for your help and we hope everybody stay safe. Under the standard an entity recognizes its estimate of lifetime expected credit losses as an allowance, which the fed believes will result in more timely recognition of such losses and while changes in economic scenarios and asset performance in the future will impact Cecil reserves in subsequent quarters, current reserve levels should not be considered as a pervasive credit issue within the portfolio or an indication of what reserves may be recorded in the future. 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). The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. in Economics and Political Science from the University of Pennsylvania and a J.D. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. 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. Learn More on Annaly Capital Management's active insiders. As we gain further clarity around the long-term implications of COVID, we are reassured by the stable and defensive nature of our portfolio and remain confident in its ability to withstand prolonged bouts of market volatility. Thanks. The Mortgage Servicing Rights group provides the right to service residential mortgage loans in exchange for a portion of the interest payments made on the loans. MSR has different structural aspects to it that make it very cheap, but nonetheless structural leverage is a little bit inferior right now to balance sheet leverage. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Trustee. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. This news release and our public documents to which we refer contain or incorporate by reference certain forward-looking statements which are based on various assumptions (some of which are beyond our control) and may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as may, will, believe, expect, anticipate, continue, or similar terms or variations on those terms or the negative of those terms. The reason why they appreciate is because there worth it. 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. Athletes' ambitions don't end when they leave the field of play. And did you guys say what your book value was through July? Please disable your ad-blocker and refresh. None of Annaly's achievements would have been possible without . We continue to be impressed by the resiliency of our workforce and the exemplary service that our IT infrastructure team has provided to every one of us during the time of remote work. 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. Securitization market started to show signs of life in mid-May and we issued nearly $500 million of expanded prime securities earlier this month, subsequent to quarter end. Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . 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). . Annaly's principal business objective is to generate net income for distribution to its stockholders and to optimize its returns through prudent management of its diversified investment strategies. PHIL 21505/31505 Wonder, Magic, and Skepticism. Musk Made a Mess at Twitter. From 2014 to 2020, Dr. Hannan served as Chairman of the Board & National President for Girl Scouts of the USA. So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. Mr. David L. Finkelstein C.F.A. The conference has now concluded. We add the incremental dollar role income to core income and then the outcome. Great. 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. So look with respect to the agency market, we are in an environment where funding is abundantly available and will be for some time given the reserves in the system. Coronavirus Tips Working and Protection. But the good news is, if China invades Taiwan, there is a way to protect yourself. So the NIM itself is not reflective of TBAs at all to your dollar role at all? Just had a curiosity what are some things that you are concerned about or really looking closely at, you kind of in the end and immediate term. Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Annaly Capital Management can also be reached via phone at (212) 696-0100 and via email at [emailprotected] Learn More on David L. Finkelstein's contact information. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Please go ahead. 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. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Please go ahead. 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. Volatility is low and the fed is specifically directing volatility lower and they also happen to be a huge tailwind in terms of purchases of agency MBS, so the technicals are very favorable and to your point, it does appear to be a very good backdrop for the foreseeable future for agency. Last updated: 1 March 2023 at 11:00am EST. And everything you said the two words that stood out everything changes. So we set the dividend at $0.22 because we believe that to be the sustainable level for the foreseeable future as long as we had a lens into the horizon. So thank you, guys. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. Financial Highlights GAAP net income (loss) of ($1.96) per average common share for the quarter; $3.93 per average common share for the full year 2022 Earnings available for distribution [] Corporate Responsibility Committee (Chair)NCG CommitteeRisk Committee. Wellington J. Denahan co-founded Annaly in 1996 and has served as a Director since that time. Of note, while last quarter each of our credit meters providing an in-depth look at their respective markets and portfolios to be efficient, I'll provide those updates today but as Purvi noted each of our business heads are here as well to join in Q&A. He joined the firm in 2013 and assumed the role of Chief Investment Officer in 2016. The estimated net worth of David L. Finkelstein is at least $36.42 million as of June 17th, 2022. was elected to serve as an independent director of Annaly in February 2019. Compensation Ownership; David . 212-333-3810 Yes the TBA role provided about $97.5 million post NIM for the quarter. 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. The charts on this page feature a breakdown of the total annual pay for the top executives at ANNALY CAPITAL MANAGEMENT as reported in their proxy statements. Biography of David Finkelstein. New deal activity is primarily relegated to more broadly syndicated loans however, the context first lien executions on larger transactions have tightened 75 basis points to 100 basis points over the past quarter, while traditional middle-market has shown less movement in pricing. Insiders at Annaly Capital Management own 0.3% of the company. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Will His AI Plans Be Any Different? David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Good morning and nice quarter guys. As an internally managed REIT, we look forward to demonstrating increased transparency and alignment with our shareholders who will benefit from our ability to be more nimble in the way we do business in order to generate long-term value. Financial Highlights. I know you mentioned in some of the tail risks and just any more additional comments on the hedge positioning will be great thanks. We feel good about where pools are at. Mr. Schaefer received a B.B.A. Over the last 20 years, insiders at Annaly Capital Management Inc have traded over $734,400 worth of Annaly Capital Management Inc stock and bought 3,810,453 units worth $38,359,155 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 . David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. Sure. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. When I look this morning three month 10-year swaption was up 53 basis points. Learn More on David L. Finkelstein's salary. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. US Jobs Report and Powell Testimony Take Center Stage: Eco Week, Bond Mavens Favor Curve Wagers for Next Encounter With Jobs Data, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate. Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. The information shown here is a reporting of information included in the company's proxy statement. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Thorough reviews have been conducted to assure this data accurately reflects disclosures. While financial conditions have stabilized, there is still significant uncertainty around the long-term economic picture. Learn More about insider trades at Annaly Capital Management. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Mr. Schaefer has over 40 years of financial services experience including serving as a member of the management committee of Morgan Stanley from 1998 through 2005. Now in terms of amortization of the cost, I'll give you the MSR for example, which mimics the derivates portfolio. ANNALY@brunswickgroup.com, Navigate to the << Back to I would like to turn the conference back over to David Finkelstein for any closing remarks. Consistent with that strategy, since the beginning of the second quarter, we added $1.125 billion of capacity across two new credit facilities for our residential credit group, the permanent nonrecourse financing. 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. david finkelstein annaly compensationmostar bridge jump injuries. Overall, we maintained a more constructive view of the operating environment and our ability to deliver compelling returns as each of our businesses respected sectors begins to emerge from the initial volatility and destruction caused by the pandemic. Learn More on Annaly Capital Management's active insiders. In fact some of our industry concentrations have maturely benefited from the current environment. Across sectors within commercial, the operating fundamentals remain challenged in hospitality as the average national occupancy rate hovers around 40% and in retail the prolonged shutdown and increasing number of retailer bankruptcies is continuing to weigh on that sector. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Please note today's event is being recorded. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. NEW YORK-(BUSINESS WIRE)-Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter ended March 31, 2022. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. 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. I am pleased to share all that we have accomplished in 2021, including enhancing the Companys executive compensation program, expanding our parental leave and fertility benefits and providing additional climate-related disclosures. Okay. 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. Non-Equity Incentive Plan Compensation: $0: Change in Pension Value and Deferred Compensation Earnings: $0: All Other Compensation: $13,763: Total: $9,138,764: Annaly Capital Management, Inc. disclosed its CEO pay was. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. Most recently he exercised 6,186 units of NLY stock worth $125,761 on 1 February 2023. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report f So broadly speaking in agency it's probably pool pricing and in credit there could be unforeseen events given the economy that could disrupt individual assets. Yeah it depends on the shape of the curve, like over the last couple of months, the term structure of repo has flattened pretty considerably, which has enabled us to extend out curve at very attractive rate. Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. Following one of the most challenging and unforeseen operating environments in analysts history, we were pleased with our performance during the second quarter. Our goal has been to maintain optimal liquidity thresholds and to manage the portfolio within conservative risk parameters to produce the highest level of quality earnings in this market environment. is the Pres, CEO & Director at Annaly Capital Management Inc. 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. Mr. Finkelstein has over 25 years of experience in fixed income investments. Annaly Capital Management, Inc. (NYSE:NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020, 09:00 AM ET Company Participants Purvi Kamdar - Head, IR David Finkelstein - CEO & Chief. You may also find the annual proxy statement by going directly to the company's website. [Operator instructions] Our next question comes from George Bahamondes with Deutsche Bank. Ms. Denahan has a B.S. Shifting to middle-market lending, activity has also picked up as of late as spreads have tightened and sponsors have refinanced transactions that have exhibited improving underlying leverage profiles. I will provide brief financial highlights of the quarter ended June 30, 2020 and while earnings release discloses our GAAP and non-GAAP core results, I will be focusing this morning primarily on our core results and related metrics or excluding PAA. NCG Committee (Chair)Corporate Responsibility Committee. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. Ms. Bovich has a B.A. 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). And that's exactly right. We would expect more equity allocated to it, certainly, with the option to apply a modest amount of leverage. We don't complete clarity on the economy and some of that runoff could go into the agency sector. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. Okay. Now of additional note with respect to our direct lending portfolios, we have taken what we believe to be a very conservative approach regarding reserves and Cecil adjustment which Serena will discuss in further detail. 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 . As a result we ran numerous scenarios in excess of 20, to determine the appropriate amount of Cecil reserves to the quarter and ultimately booked reserves that were considerably more conservative than our base case scenario. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. . David L. Finkelstein C.F.A. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Risk Factors in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. I wanted to talk a little bit about dividend policy. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. Reinvestment is a key criteria here. This underscores our belief that the stock is undervalued relative to our book value and affirms our support of the value of our stock through the various capital allocation tools we have on hand. Current positions of David Finkelstein. Any forward-looking statements made during today's call are subject to certain risks and uncertainties including with respect to COVID-19 impacts, which are outlined in the risk factors section in our most recent annual and quarterly SEC filings. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Vice ChairRisk Committee (Chair)Corporate Responsibility Committee. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. It did get below that level in early 2019 to about 49 basis points and then the last time prior to that was 2017 and before that it was pre-crisis. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. The report demonstrates Annalys continued focus on setting and measuring progress on environmental, social and governance (ESG) goals, as well as its commitment to providing increased disclosure and transparency. We don't anticipate increasing agency meaningfully, but we do recognize that these credit markets are a little bit slow to redevelop. 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. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following board members on its annual proxy statement to the SEC. Mr. Finkelstein received a B.A. NEW YORK-(BUSINESS WIRE)-Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. Hey guys, this is actually Josh Bolton on for Doug. GAAP net income (loss . Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation Is it picked up in your asset yield or your funding costs or both? At quarter end, we closed our previously announced internalization transaction, which marks a significant step in the series of measures Annaly has implemented as an industry leader from a government standpoint. You may also find the annual proxy statement by going directly to the company's website.
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