Filing Analysis
Cherry Hill Mortgage Investment Corp (CHMI) filed an 8-K to report its quarterly results of operations for the period ending June 30, 2026. The filing serves as a formal announcement of financial performance via a press release.
📋 Key Facts
- Reported results of operations for the quarter ended June 30, 2026.
- Filing date: August 10, 2026.
- The report includes information regarding Series A (8.20%) and Series B (8.250%) Cumulative Redeemable Preferred Stock.
Cherry Hill Mortgage Investment Corp. has entered into a definitive merger agreement with TPG Mortgage Investment Trust, Inc. to be acquired in a combination of cash and stock.
🚩 Red Flags
- The transaction involves a complex multi-step merger structure (Partnership Merger followed by Company Merger).
- Significant cash component ($0.93 total per share) combined with stock may impact liquidity/capitalization depending on Parent's valuation.
📋 Key Facts
- Merger Agreement dated August 9, 2026, between Cherry Hill Mortgage Investment Corp., TPG Mortgage Investment Trust, Inc. (Parent), and MIT Merger Sub II, LLC.
- Common Stock Consideration: Shareholders to receive 0.3063 shares of Parent common stock plus $0.41 per share in cash from Parent, plus an additional $0.52 per share in cash from Parent Manager.
- Preferred Stock Treatment: Series A (8.20%) and Series B (8.250%) preferred stocks will convert into equivalent shares of Parent's Series D and Series E preferred stocks respectively.
- Equity Awards: Restricted stock units (RSUs) and performance-based RSUs (PSUs) are expected to vest immediately prior to the merger and be settled in common stock consideration.
- Closing Conditions include shareholder approval, SEC effectiveness of Form S-4, NYSE listing approval for Parent's securities, and regulatory approvals.
Cherry Hill Mortgage Investment Corp reported the results of its annual meeting of stockholders held on June 11, 2026. The stockholders re-elected the board, approved executive compensation, and ratified the auditor, but rejected a proposed charter amendment regarding bylaw authority.
📋 Key Facts
- Annual Meeting held on June 11, 2026.
- Board of Directors re-elected: Jeffrey B. Lown II, Joseph Murin, Robert C. Mercer, Jr., Sharon Lee Cook, and Dale Hoffman.
- Executive compensation for the year ended December 31, 2025, was approved on a non-binding advisory basis (7,958,045 For / 2,415,169 Against).
- Ernst & Young LLP (EY) was ratified as the independent public auditor for fiscal year 2026.
- The proposed Charter Amendment to remove the Board's exclusive power to amend bylaws was NOT approved.
Cherry Hill Mortgage Investment Corp (CHMI) reported its financial results for the first quarter ended March 31, 2026. The filing serves as a formal notification of the earnings release, with detailed results provided in an attached press release.
📋 Key Facts
- The company reported results for the quarter ended March 31, 2026.
- The report was filed under Item 2.02 (Results of Operations and Financial Condition).
- A press release was furnished as Exhibit 99.1.
- The filing date is May 7, 2026.
Cherry Hill Mortgage Investment Corporation (CHMI) has established its 2026 Executive Compensation Plan for its top three executives, following its transition to an internal management structure in late 2024. The plan introduces a mix of base salary, short-term cash incentives (STIP), and long-term equity incentives (LTIP) tied to performance metrics like ROE and Total Stockholder Return (TSR).
🚩 Red Flags
- High base salary for CEO ($900,000) relative to the company's likely micro-cap status, though common in the REIT sector.
📋 Key Facts
- Base salaries for 2026 set at $900,000 for CEO Jay Lown, $550,000 for CIO Julian Evans, and $400,000 for CFO Apeksha Patel.
- Short-Term Incentive Program (STIP) is 70% based on financial metrics (Earnings Available for Distribution ROE and Share Price to Tangible Book Value) and 30% on individual goals.
- Long-Term Incentive Program (LTIP) utilizes three-year rolling tranches, with 50% of the award being time-based and 50% performance-based.
- Performance-based LTIP awards are tied to both absolute and relative Total Stockholder Return (TSR) against a peer group.
- The plan was developed with assistance from independent consultant Ferguson Partners to align with internally managed REIT standards.
Cherry Hill Mortgage Investment Corp (CHMI) reported its financial results for the fourth quarter ended December 31, 2025. The announcement was made via a press release furnished as an exhibit to the filing under Item 2.02.
📋 Key Facts
- The report was filed on February 25, 2026, covering the quarter ended December 31, 2025.
- The filing includes Item 2.02 (Results of Operations and Financial Condition) and Item 9.01 (Financial Statements and Exhibits).
- The press release (Exhibit 99.1) is furnished and not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act.
- The report was signed by Apeksha Patel, Chief Financial Officer and Treasurer.
Cherry Hill Mortgage Investment Corp (CHMI) filed an 8-K to announce its quarterly results of operations for the period ending September 30, 2025. The filing serves as a formal notification that financial results have been released via press release.
📋 Key Facts
- Reporting date: November 6, 2025
- Period covered: Quarter ended September 30, 2025
- The report includes an announcement of results of operations and financial condition (Item 2.02).
- The filing is accompanied by a press release as Exhibit 99.1.
Cherry Hill Mortgage Investment Corp has transitioned Apeksha Patel from her role as Interim Chief Financial Officer to the permanent position of Chief Financial Officer and Treasurer, effective August 22, 2025.
📋 Key Facts
- Apeksha Patel was appointed as Interim CFO, Treasurer, and Secretary on June 22, 2025.
- The Board of Directors officially appointed Ms. Patel as the permanent Chief Financial Officer and Treasurer effective August 22, 2025.
- Employment terms remain consistent with those previously disclosed in the May 27, 2025, 8-K filing.
Cherry Hill Mortgage Investment Corp (CHMI) filed an 8-K to report its quarterly results of operations for the period ending June 30, 2025. The filing serves as a formal notice that financial results have been released via press release.
📋 Key Facts
- Reported results of operations for the quarter ended June 30, 2025.
- Filing date: August 7, 2025.
- The report includes a press release as Exhibit 99.1.
Cherry Hill Mortgage Investment Corp announced the appointment of Susan Healey as General Counsel, effective July 29, 2025. The filing details her compensation package and professional background.
📋 Key Facts
- Susan Healey appointed as General Counsel, effective July 29, 2025.
- Annual base salary set at $500,000 per year until December 31, 2026.
- Cash signing bonus of $25,000 payable within thirty days of start date.
- Eligibility for a $250,000 bonus for the remainder of 2025, payable in Q1 2026.
- Ms. Healey previously served as Deputy General Counsel at NorthMark Strategies.
Cherry Hill Mortgage Investment Corp held its annual meeting of stockholders on June 12, 2025. The results included the election of five directors and the ratification of Ernst & Young LLP as independent auditors.
📋 Key Facts
- Annual meeting of stockholders held on June 12, 2025.
- Five nominees (Jeffrey B. Lown II, Joseph Murin, Sharon Lee Cook, Robert C. Mercer Jr., and Dale Hoffman) were elected to the Board of Directors.
- Stockholders approved non-binding advisory compensation for named executive officers for the year ended Dec 31, 2024.
- Stockholders voted on a non-binding advisory vote regarding the frequency of future 'say-on-pay' votes; the majority opted for an annual frequency (6,745,607 votes).
- Ernst & Young LLP was ratified as the independent public auditors for 2025.
Cherry Hill Mortgage Investment Corp announced the resignation of CFO Michael A. Hutchby, effective June 22, 2025. The company has appointed Controller Apeksha Patel as Interim CFO starting on the same date.
🚩 Red Flags
- Sudden departure of the CFO (though stated as non-dispute related).
📋 Key Facts
- Michael A. Hutchby is resigning as CFO, Treasurer, and Secretary effective June 22, 2025.
- The resignation is to pursue another professional opportunity and not due to any disagreement with management or auditors.
- Apeksha Patel (current Controller) appointed as Interim CFO, Treasurer, and Secretary effective June 22, 2025.
- Interim CFO compensation includes a base salary increase from $240,000 to $300,000 starting June 22, 2025, plus a guaranteed $100,000 bonus in Q1 2026.
Cherry Hill Mortgage Investment Corp reported its quarterly results of operations for the period ending March 31, 2025. The filing serves as a formal notification that financial results have been released via press release.
📋 Key Facts
- Reporting date: May 6, 2025
- Period covered: Quarter ended March 31, 2025
- The filing includes the announcement of quarterly results as per Item 2.02.
- Results are furnished via press release (Exhibit 99.1) rather than filed.
Cherry Hill Mortgage Investment Corp (CHMI) announced the appointment of Dale S. Hoffman to its Board of Directors and the adoption of a new Executive Severance Plan for key management personnel.
🚩 Red Flags
- Adoption of executive severance plans can sometimes precede management turnover or restructuring, though it is a standard corporate governance practice.
📋 Key Facts
- Dale S. Hoffman appointed as a new director on March 11, 2025; term expires at the 2025 annual meeting.
- Mr. Hoffman appointed to the compensation and nominating/corporate governance committees.
- Executive Severance Plan adopted effective March 12, 2025.
- Severance plan covers CEO (Jay Lown), CFO (Michael Hutchby), CIO (Julian Evans), and SVP of Mortgage Servicing (Raymond Slater).
- Severance multiples: 2.5x annual compensation for the CEO; 1.5x for other participants.
Cherry Hill Mortgage Investment Corporation (CHMI) filed an 8-K to report its financial results for the quarter and fiscal year ended December 31, 2024. The filing serves as a formal announcement of the company's recent operational performance.
📋 Key Facts
- Reporting period: Quarter and Year ended December 31, 2024.
- Filing date: March 6, 2025.
- The report includes results of operations and financial condition via an attached press release (Exhibit 99.1).
- Company is listed on the NYSE under ticker CHMI.
Cherry Hill Mortgage Investment Corp has completed an 'Internalization Event,' transitioning from an externally managed to an internally managed company. This involved terminating its management agreement with Cherry Hill Mortgage Management, LLC and directly employing its senior executive team.
🚩 Red Flags
- Transition from external to internal management can lead to increased operational overhead and administrative complexity.
- Executive compensation structures are being established under new employment terms following the internalization event.
📋 Key Facts
- Effective November 14, 2024, the Company terminated its Management Agreement with Cherry Hill Mortgage Management, LLC.
- No termination fee is payable to the Manager upon termination of the agreement.
- The Company will cease paying management fees to the external Manager as of November 14, 2024.
- CEO Jeffrey B. Lown II, CFO Michael A. Hutchby, and CIO Julian B. Evans have been directly employed by the Company effective November 14, 2024.
- Jeffrey B. Lown II's annual base salary is set at $1,235,000 through December 31, 2025.
- Michael A. Hutchby's annual base salary is set at $600,000 through December 31, 2025.
- Julian B. Evans's annual base salary is set at $550,000 through December 31, 2025, with a potential $275,000 bonus in Q1 2025.
Cherry Hill Mortgage Investment Corp (CHMI) filed an 8-K to announce its quarterly results of operations for the period ending September 30, 2024. The filing serves as a formal notice that financial results have been released via press release.
📋 Key Facts
- Reporting date: November 12, 2024
- Period covered: Quarter ended September 30, 2024
- The company reported results under Item 2.02 (Results of Operations and Financial Condition)
- Financial details are contained in Exhibit 99.1 (Press Release)
Cherry Hill Mortgage Investment Corp announced a revision to its Q3 dividend for the Series B Preferred Stock and an additional payment required for the previously paid Q2 dividend. The adjustments are due to changes in the fixed-to-floating rate calculation.
🚩 Red Flags
- Dividend adjustment/retroactive payment: While common in floating-rate instruments due to interest rate resets, it indicates a need for administrative reconciliation regarding the previous period's payout.
📋 Key Facts
- Revised Q3 2024 dividend for 8.250% Series B Preferred Stock: increased from $0.6986 to $0.7152 per share.
- Q3 dividend payment date: October 15, 2024 (Record date: September 30, 2024).
- Additional Q2 dividend payment declared: $0.0096 per share for Series B Preferred Stock.
- The additional Q2 payment will be paid on October 15, 2024 to holders of record as of June 28, 2024.
Cherry Hill Mortgage Investment Corp filed a prospectus supplement to facilitate the sale of up to approximately $54.8 million in common stock via an existing at-the-market (ATM) offering program.
🚩 Red Flags
- Potential dilution for existing shareholders due to the issuance of new common stock via ATM program.
📋 Key Facts
- Offering amount: Up to approximately $54.8 million in shares of common stock.
- Mechanism: At-the-market (ATM) offering program.
- Sales Agents: Citizens JMP Securities, LLC, B. Riley Securities, Inc., and BTIG, LLC.
- Effective Date: The Base Prospectus became effective on August 26, 2024.
- Legal Opinion: Included Exhibit 5.1 from Venable LLP regarding the legality of the shares.
Cherry Hill Mortgage Investment Corp (CHMI) has expanded its existing At-The-Market (ATM) offering program by adding BTIG, LLC as a sales agent and increasing the aggregate public offering price limit from $100.0 million to $150.0 million.
🚩 Red Flags
- The company has already utilized nearly all ($95.2M of $100M) of its previous ATM capacity, indicating a high frequency of equity issuance to fund operations or assets.
- Expansion of ATM programs is often used by REITs/mortgage companies to manage capital ratios, but it can lead to shareholder dilution.
📋 Key Facts
- Increased total ATM Program cap from $100.0 million to $150.0 million.
- Approximately $95,224,253 in shares had already been sold under the previous program limit as of August 9, 2024.
- Added BTIG, LLC as a new sales agent for the ATM Program.
- Amended existing Sales Agreements with Citizens JMP Securities, LLC and B. Riley Securities, Inc.
Cherry Hill Mortgage Investment Corp (CHMI) filed an 8-K to report its quarterly results of operations for the period ended June 30, 2024. The filing serves as a formal notification that earnings/financial results have been released via press release.
📋 Key Facts
- Reporting date: August 8, 2024
- Period covered: Quarter ended June 30, 2024
- The filing includes the announcement of results under Item 2.02 (Results of Operations and Financial Condition).
- Financial statements are provided via Exhibit 99.1 (Press Release).
Cherry Hill Mortgage Investment Corp announced a strategic shift to internalize its management operations. The Board has approved the termination of the existing management agreement with Cherry Hill Mortgage Management, LLC to transition into a fully integrated, internally managed mortgage REIT.
🚩 Red Flags
- Transitioning from an externally managed to an internally managed structure can involve significant one-time costs and operational restructuring risks.
📋 Key Facts
- Board of Directors authorized the internalization of management on July 9, 2024.
- The decision follows a recommendation from a special committee of independent and disinterested directors.
- The Company will terminate its current management agreement with Cherry Hill Mortgage Management, LLC.
- The goal is to operate as a fully integrated, internally managed mortgage REIT.
Cherry Hill Mortgage Investment Corp held its annual meeting of stockholders on June 13, 2024. The results included the re-election of four directors and the ratification of Ernst & Young LLP as independent auditors.
📋 Key Facts
- Annual Meeting held on June 13, 2024.
- Jeffrey B. Lown II, Joseph Murin, Robert C. Mercer Jr., and Sharon Lee Cook were all re-elected to the Board of Directors.
- Non-binding advisory vote on executive compensation for FY2023 was approved (6,598,491 'For').
- Ratification of Ernst & Young LLP (EY) as independent registered public accounting firm for fiscal year 2024 was approved with 17,147,125 votes in favor.
- A proposed Charter Amendment to remove the board's exclusive power to amend bylaws was NOT approved.
Cherry Hill Mortgage Investment Corp (CHMI) filed an 8-K to report its quarterly results of operations for the period ended March 31, 2024. The filing serves as a formal announcement of the earnings release via press release.
📋 Key Facts
- Reporting date: May 6, 2024
- Period covered: Quarter ended March 31, 2024
- The report includes results of operations and financial condition as per Item 2.02
- Information is furnished but not 'filed' for purposes of Section 18 liability
Cherry Hill Mortgage Investment Corp (CHMI) filed an 8-K to report its quarterly results of operations for the period ending December 31, 2023.
📋 Key Facts
- Reported results of operations for the quarter ended December 31, 2023.
- Filing date: March 7, 2024.
- The report includes a press release (Exhibit 99.1) detailing financial performance.