Angel Oak Mortgage REIT amends management agreement with Falcons I, LLC on May 1, 2024

Angel Oak Mortgage REIT, Inc.

Amended agreement clarifies which Manager employees are dedicated to the company and the related salary reimbursement process.
Reimbursements for dedicated personnel salaries and benefits now require Compensation Committee approval.
Other updates include name changes of certain entities and minor administrative revisions.
Base management fee remains 1.50% per annum of Equity; incentive fee formula unchanged.
No change in management fee structure or key financial terms.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Angel Oak Mortgage REIT, Inc. amended Amended and Restated Management Agreement with Falcons I, LLC (effective 2024-05-01).

Action: amendment
Counterparty: Falcons I, LLC
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, Angel Oak Mortgage REIT, Inc. (the "Company"), Angel Oak Mortgage Operating Partnership, LP, the Company's operating partnership, and Falcons I, LLC, the Company's external manager (the "Manager") amended and restated that certain Management Agreement dated as of June 21, 2021 to (i) clarify (a) the officers and employee(s) provided by the Manager that will be fully or partially dedicated to the Company and (b) the related full or partial reimbursements to the Manager for their salaries and other benefits, subject to the approval of the Compensation Committee, and (ii) update the names of various entities and make certain other minor updates.

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Source: SEC EDGAR

accession 0001766478-24-000045

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