Annaly Capital Management, Inc. Provides Update on Employee Stock Ownership Guidelines & Recent Purchases by Officers & Direc...
July 08 2019 - 9:00AM
Business Wire
- 100% of employees subject to Annaly’s broad-based Employee
Stock Ownership Guidelines have purchased stock, including all
Executive Officers
- During the second quarter of 2019, Annaly’s Executive
Officers and Directors led all large-capitalization U.S. financial
companies in common stock purchases
- Annaly’s Chairman, Chief Executive Officer and President,
Chief Investment Officer, Chief Corporate Officer and Chief Legal
Officer, and two Independent Directors all made purchases of common
stock during the second quarter of 2019
Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the
“Company”) today announced an update on its Employee Stock
Ownership Guidelines and recent stock purchases by the Company’s
Executive Officers and Directors, further substantiating Annaly’s
alignment with shareholders and significant ownership culture
throughout the Company.
Beginning in 2016, Annaly implemented broad-based Employee Stock
Ownership Guidelines, further solidifying its commitment to
aligning the interests of its employees with those of its
stockholders to foster long-term value creation. Pursuant to these
voluntary guidelines, Annaly’s Director-level and above employees,
representing a total of 69 employees or 38% of the firm, have been
asked to purchase stock in the open market with after-tax dollars
over a period of five years. As of June 30, 2019, 100% of employees
subject to the guidelines for over one year have purchased shares
of Annaly common stock.
Since implementing the guidelines in March 2016, total ownership
of Annaly common stock by current Executive Officers has increased
by over $12 million to a total of over $21 million. In July 2017,
each of the Company’s Executive Officers, Annaly’s Chairman, Chief
Executive Officer and President, Chief Corporate Officer and Chief
Legal Officer, Chief Financial Officer, Chief Investment Officer
and Chief Credit Officer, voluntarily committed to increase their
stock ownership positions beyond their individual ownership
guidelines. Since May 6, 2019 alone, Annaly’s Directors and
Executive Officers have purchased shares of Annaly common stock
with an aggregate value of $5.2 million, with Executive Officers
representing $4.3 million, as reported on forms filed with
Securities and Exchange Commission.
“The recent stock purchases made by Annaly’s Board, executive
officers and employees further emphasize our belief in this Company
and its future,” commented Kevin Keyes, Chairman, Chief Executive
Officer and President. “Having an established ownership culture at
our Firm is extremely important and our very unique stock purchase
guidelines support alignment of the long-term interests of our
management and employees with our shareholders. Our continued
purchases, coupled with the fact that all current executives have
never sold any stock, exemplify our ongoing commitment to our
shareholders.”
About Annaly
Annaly is a leading diversified capital manager that invests in
and finances residential and commercial assets. Annaly’s principal
business objective is to generate net income for distribution to
its stockholders and to preserve capital through prudent selection
of investments and continuous management of its portfolio. Annaly
has elected to be taxed as a real estate investment trust, or REIT,
for federal income tax purposes. Annaly is externally managed by
Annaly Management Company LLC. Additional information on the
company can be found at www.annaly.com.
Forward-Looking Statements
This news release and our public documents to which we refer
contain or incorporate by reference certain forward-looking
statements which are based on various assumptions (some of which
are beyond our control) and may be identified by reference to a
future period or periods or by the use of forward-looking
terminology, such as "may,” “will,” “believe,” “expect,”
“anticipate,” “continue,” or similar terms or variations on those
terms or the negative of those terms. Actual results could differ
materially from those set forth in forward-looking statements due
to a variety of factors, including, but not limited to, changes in
interest rates; changes in the yield curve; changes in prepayment
rates; the availability of mortgage-backed securities and other
securities for purchase; the availability of financing and, if
available, the terms of any financing; changes in the market value
of our assets; changes in business conditions and the general
economy; our ability to grow our commercial real estate business;
our ability to grow our residential credit business; our ability to
grow our middle market lending business; credit risks related to
our investments in credit risk transfer securities, residential
mortgage-backed securities and related residential mortgage credit
assets, commercial real estate assets and corporate debt; risks
related to investments in mortgage servicing rights; our ability to
consummate any contemplated investment opportunities; changes in
government regulations and policy affecting our business; our
ability to maintain our qualification as a REIT for U.S federal
income tax purposes; and our ability to maintain our exemption from
registration under the Investment Company Act of 1940, as amended.
For a discussion of the risks and uncertainties which could cause
actual results to differ from those contained in the
forward-looking statements, see “Risk Factors” in our most recent
Annual Report on Form 10-K and any subsequent Quarterly Reports on
Form 10-Q. We do not undertake, and specifically disclaim any
obligation, to publicly release the result of any revisions which
may be made to any forward-looking statements to reflect the
occurrence of anticipated or unanticipated events or circumstances
after the date of such statements, except as required by law.
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Annaly Capital Management, Inc. Investor Relations 1-888-8Annaly
www.annaly.com
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