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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. As of 1 February 2023 he still owns at least 401,561 units of Annaly Capital Management Inc stock. 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. Mr. Schaefer was Executive Vice President and Chief Strategic and Administrative Officer of Morgan Stanley from 1998 to 2000. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery. david finkelstein annaly compensation. Okay. And everything you said the two words that stood out everything changes. NCG Committee (Chair)Corporate Responsibility Committee. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. And finally shifting to our outlook, as we think about our capital allocation out of the horizon, we've been focused on preserving flexibility given uncertainty in the greater economy related to COVID shutdown. Financial Highlights. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. As I mentioned we out-earned the dividend by $0.05 this quarter and absent another market dislocation or other foreseen developments, we expect Q3 core canings to also the dividend. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $36,417,864 as of February 13th. 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. See David L Finkelstein's compensation, career history, education, & memberships. Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. This is in large part due to the ongoing decisive actions taken by the Federal Reserve, which have been successful in restoring markets and easing credit strains. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. 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. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. Annaly Capital Management, Inc. Investor Relations 1-888-8Annaly www.annaly.com Release Summary Donnell A. Segalas Concludes his Service as a Member of the Board of Annaly Capital Management, Inc. We don't complete clarity on the economy and some of that runoff could go into the agency sector. 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. Now with respect to options, we did reinvest a lot of the runoff in our swap portfolio back in out of money options and I'll tell you going forward that will be a function of the level of implied volatility. [Operator instructions] Our next question comes from George Bahamondes with Deutsche Bank. 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 chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. And my other questions have been asked and answered. Now more than ever, players rightly see themselves as multi-faceted entrepreneurs, and seek ways to leverage their brands in everything from real estate to venture capital. And actually as you're answering that question, I'm realizing there's another element to that, which is that some of that additional that excess earnings is coming back to you shareholders in the form of the repurchases at a discount as well. With respect to our CRE portfolio specifically, total assets at quarter end of $2.5 billion represented a slight decrease while economic interest remained essentially flat. Mr. David L. Finkelstein C.F.A. They purchased a total of 200,000 shares worth more than $1,112,000.00. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Our next question comes from Rick Shane with JPMorgan. 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. So balance sheet leverage is incredibly inexpensive right now and abundantly available because of the reserves in the system and in the agency space it's more favorable than structural leverage through derivatives. David L. Finkelstein is Chief Executive Officer and President of Annaly. The market dysfunction that occurred amid the initial COVID outbreak in the US has dissipated and we have seen significant improvement in liquidity and asset pricing. David L. Finkelstein C.F.A. Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Mr. Finkelstein has over 25 years of experience in fixed income investments. Management Development and Compensation Committee (Chair)Audit Committee. Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. 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 from the University of Dayton. Please. Please note today's event is being recorded. Please go ahead. 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. David Finkelstein-- Chief Executive Officer and Chief Investment Officer Yeah. Mr. Haylon has previously served on the boards of Aberdeen Asset Management and Phoenix Investment Partners. Ms. Bovich has over 30 years of investment management experience lastly serving as a Managing Director of Morgan Stanley Investment Management from 1993 through 2010. We believe our focused industry-specific positioning within nondiscretionary defensive and mission-critical names will generate the outperformance for peers that will further differentiate our brand in the sector. From 1980 until 1984, he was a Senior Financial Analyst at Travelers Insurance Companies. 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 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. None of Annaly's achievements would have been possible without . And did you guys say what your book value was through July? Financial Highlights GAAP net income of $1.37 per average common share for the quarter Earnings available for distribution ("EAD") of $0.28 per average common share for the quarter; unchanged from the prior . Chief Executive OfficerChief Investment Officer. Most recently he exercised 6,186 units of NLY stock worth $125,761 on 1 February 2023. Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. And as part of our preparation, we've chosen to be conservative with our leverage as well as our dividend. 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. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. Most recently he exercised 7,989 units of NLY stock worth $50,490 on 29 January 2022. . Right. They provide a much better competitive profile with lower prepayment characteristics than the market, but generally speaking pool pricing can be variable and so that's probably the risk in any agency. 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). Sorry, I think we're thinking about it a little differently, but yeah that's correct. Prior to joining NBCUniversal, Ms. Williams was a Partner with Pay Governance LLC and a Principal with Towers Perrin (now Willis Towers Watson). Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Mr. Hamilton has served as an Owner and Director of Construction Forms, Inc. (Con Forms), an industrial manufacturing company, since 2013. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. Annaly provides supplemental disclosures under the Sustainability Accounting Standards Board (SASB) standards and the Global Reporting Initiative (GRI) standards frameworks. NEW YORK--(BUSINESS WIRE)-- Michael Haylon was elected to serve as an independent director of Annaly in 2008. 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. Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. in Economics from Connecticut College and an M.B.A. in Finance from New York University. 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. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. The portfolio generated 188 points of NIM up Q1 of 118 basis points, driven primarily by the decrease in cost on funds that I mentioned a moment ago. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. As outlined in our report, we continue to Take Stock of Our Impact establishing ESG goals and commitments and tracking our considerable progress as we strive to integrate ESG priorities across our business, said David Finkelstein, Annalys Chief Executive Officer and President. Thanks. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Prior to the 1997 merger of Dean Witter, Discover and Morgan Stanley, Mr. Schaefer was Executive Vice President, Investment Banking and Head of Corporate Finance at Dean Witter, a position he had held since 1991. History of Analytic Philosophy. Sure. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Please go ahead. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. 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. 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. 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. 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. from the Ohio State University. The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. from the University of Michigan and J.D. Chart Data in Insider Trading History Table. I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. For the agency derivatives portfolio, I realized you guys maybe [indiscernible] surface very often, but how much of your cost basis was amortized through core earnings in that portfolio last quarter and then with rates having coming down quite a bit, presumably some of those assets are cheap and how are you guys thinking about your footprint in that portfolio? Below are excerpts from my letter to shareholders, released April 7, 2021. 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. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. david finkelstein annaly compensationmostar bridge jump injuries. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. So it's reflected in your funding cost. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. You may now disconnect. Thanks for that. The information shown here is a reporting of information included in the company's proxy statement. PHIL 21505/31505 Wonder, Magic, and Skepticism. Wallmine is a radically better financial terminal. We can't say how long that will persist for, but we do think about this for much more than just the quarter or two where we do have the specialist and we're trying to get the appropriate level where we know it's sustainable and that's how we feel about it and if we continue to out-earn it that's perfectly okay because we're given the shareholder a 10.5% dividend yield on their book value. So right now balance sheet leverage pools of finance through the repo market is more attractive than structural leverage meaning derivatives who when I say structural leverage I mean an asset whose outcome is dependent on a larger asset like derivatives are. There been some signs that the worst of the economic distress may be behind us although the recent surge in cases in some areas of the US demonstrates the fragile nature of the recovery. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Dr. Hannan previously served as the Midwest Area Managing Partner for KPMGs Tax Services. David L. Finkelstein C.F.A. ANNALY CAPITAL MANAGEMENT Compensation by Company. Learn More about David L. Finkelstein's net worth. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. Enter your email address below to get our daily insider buying and selling report. Right. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. Please disable your ad-blocker and refresh. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Dr. Hannan is a former Global Lead Partner, National Managing Partner and Vice Chairman of KPMG, LLP, the U.S. member firm of the global audit, tax and advisory services firm KPMG International. 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. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. from Loras College. 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. Coronavirus Tips Working and Protection. Nov 07, 2016. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Data Year: 2021. 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. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. Please go ahead. As we look at the buyback policy, it's not a point in time estimated, everything changes on a daily basis because asset prices changes in the relative attractiveness of buying back stock versus putting that capital to work in the portfolio changes and if you just think about the immediate accretion of the stock buyback in terms of book value versus the longer-term earnings of the portfolio, there is a trade-off there certainly and we generated 25% accretion from the buyback thus far. Content referenced in today's call can be found in our second quarter 2020 investor presentation and second quarter 2020 financial supplement, both found under the Presentation section of our website. Learn More on David L. Finkelstein's salary. Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 2020. Mr. Green has over 20 years of experience in corporate and securities law. 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. This concludes our question-and-answer session. The information shown here is a reporting of information included in the company's proxy statement. Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. We further reduced the LIBOR footprint of our hedge portfolio with our swap now 80% in OIS and we reinitiated our treasury future short position that was unwound in the first quarter. Thomas Hamilton was elected to serve as an independent director of Annaly in March 2019. Chief Executive OfficerChief Investment Officer. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Please go ahead. 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. While our allocation agency may increase modestly, we do continue to evaluate opportunities to deploy capital across our three credit businesses and we are beginning to develop the better lends into how each credit sector is evolving and we expect to shift to a more offensive posture in the coming months as we gain more clarity on the economic and real estate landscape. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. Okay. Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 Most recently, on Friday, June 17th, David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock. Click here to read the full letter and more from Annaly's 2020 Annual Report. We're experiencing a meaningful imbalance between supply and demand as a cyclically low number of housing units, meets continued strong household formations and anecdotal evidence suggests that pandemic disruptions that limited impact on the home buying and refinancing processes. 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. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Thank you, David and good morning, everyone. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . I would like to turn the conference back over to David Finkelstein for any closing remarks. Do you expect any meaningful shift in terms of equity capital allocation going forward, thanks? Just one [indiscernible] quarter, really favorable backdrop funding cost attractive, specialist TV end market. . As I mentioned last quarter, we expect to see more growth in this segment as markets continue to normalize and we are encouraged by the steady pace of securitization activity to support our asset generation strategy. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 2014. Current positions of David Finkelstein. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. in International and Comparative Law from Cornell Law School. This report is not for commercial use. Previously, Ms. Denahan served as Chief Executive Officer of Annaly from November 2012 to September 2015 and as Co-Chief Executive Officer of Annaly from October 2012 to November 2012.