Chimera Investment Corporation filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 2, 2025, Chimera Investment Corporation (the “Company”) and Dan Thakkar mutually agreed that Mr. Thakkar will step down from his position as the Company’s Chief Credit & Risk Officer, effective July 1, 2025 (the “Departure Date”). In connection with Mr. Thakkar’s departure, Mr. Thakkar entered into a letter of agreement and general release (the “Letter Agreement”), dated as of April 2, 2025. Pursuant to the Letter Agreement, Mr. Thakkar is expected to receive (i) the payments and benefits for a termination without cause provided under his employment agreement (his “Employment Agreement”) with the Company, dated as of March 24, 2023, as previously filed as Exhibit 10.4 to the Company’s Quarterly Report on Form 10-Q filed on May 4, 2023, and (ii) reimbursement from the Company for Mr. Thakkar’s COBRA premium for an additional six-month period beyond the 12-mointh period provided for in his Employment Agreement.
Mr. Thakkar’s departure was not a result of any disagreement with the Company on any matter relating to its operations, policies, or practices, or to any issues regarding its accounting policies or practices.
The foregoing description of the Letter Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Letter Agreement, a copy of which is filed as an exhibit hereto.
Item 9.01. Financial Statements and Exhibits
| (d) | Exhibits |
| Exhibit No. | Description |
| 10.1 | Letter of Agreement and General Release, dated April 2, 2025, between Chimera Investment Corporation and Dan Thakkar. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CHIMERA INVESTMENT CORPORATION | ||||
| Date: | April 8, 2025 | By: | /s/ Miyun Sung | |
| Miyun Sung | ||||
| Chief Legal Officer | ||||