Finance of America Companies Inc
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
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Item 5. Other Information
Section 13(r) Disclosure
Pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012, which added Section 13(r) of the Exchange Act, we hereby incorporate by reference herein Exhibit 99.1 of this report, which includes disclosures regarding activities at Mundys S.p.A., which may be, or may have been at the time considered to be, an affiliate of Blackstone and, therefore, our affiliate.
Executive Compensation Matters
On November 7, 2024, upon the recommendation of the Compensation Committee, the Board of Directors of the Company granted options to certain officers of the Company, in recognition of their leadership and service to the Company, including in connection with recent strategic initiatives. Grants were made to the Company’s named executive officers and chief financial officer, in the amounts set forth below pursuant to the Finance of America Companies Inc. 2021 Omnibus Incentive Plan and the form of Option Grant Notice and Option Agreement, substantially in the form attached hereto as Exhibit 10.1 to this Quarterly Report on Form 10-Q.
The options vest on the second anniversary from the date of grant (subject to the officer’s continued employment on the vesting date), are exercisable for a period of five years from the date of grant (on a one-for-one basis for Class A LLC Units of FoA Equity, which are exchangeable for shares of Class A Common Stock of the Company on a one-for-one basis), and have an exercise price equal to $25.00, which exceeds the fair market value of one share of Class A Common Stock of the Company on the date of grant.
| Officer | Title | Number of Options |
|---|---|---|
| Graham A. Fleming | Chief Executive Officer | 200,000 |
| Kristen N. Sieffert | President | 150,000 |
| Matthew A. Engel | Chief Financial Officer | 45,000 |
| Jeremy E. Prahm | Chief Investment Officer | 200,000 |
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