Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 31, 2022, Steven R. Mumma's term as an employee and executive
officer of New York Mortgage Trust, Inc. (the "Company") ended in accordance
with the terms of the Fourth Amended and Restated Employment Agreement between
Mr. Mumma and the Company dated December 23, 2021 and the leadership succession
plan announced by the Company in November 2021. Mr. Mumma, who most recently
served as Executive Chairman of the Company, will continue to serve as Chair of
the Board of Directors (the "Board") of the Company.
As a non-employee Chair of the Board, Mr. Mumma will be compensated in a manner
similar to the compensation paid to the Company's independent directors. A
description of the fees and compensation paid to independent directors of the
Company is set forth under the section entitled "Compensation of Directors" in
the Company's 2022 proxy statement filed on April 27, 2022, which section is
incorporated by reference herein.
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