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Two Harbors Investment Corp. Executive Compensation (FY24)

TWO · Executive and director compensation, fiscal 2024 only
Chief executive, fiscal 2024
◇
William Greenberg
Median of the other named officers
$1,378,529
5 officers, excluding the chief executive
Latest say-on-pay support
=
May 14, 2025
Chief executive pay ratio
◇
To the median employee
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Data as of October 22, 2026Latest filing (8-K): May 15, 2025
11 filings cited on this page
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196 figures on this page: 186 cited to the filing that reported them, 10 calculated from figures it prints. See the citations

Frequently asked questions

Answers drawn from the data on this page.
Who is Two Harbors Investment Corp.'s chief executive and what were they paid?
William Greenberg, President and Chief Executive Officer, received $5,785,279 in total compensation for fiscal 2024.
What was Two Harbors Investment Corp.'s say-on-pay result?
The say-on-pay proposal drew 96.6% of votes cast for or against in favor at the meeting held May 14, 2025 for fiscal 2024.
Which companies are in Two Harbors Investment Corp.'s peer group?
Companies named in the disclosed peer group include AGNC Investment Corp., Annaly Capital Management, Inc., Armour Residential REIT, Inc., Cherry Hill Mortgage Investment Corp. and Dynex Capital, Inc., among others. Companies named in the Executive Compensation Peer Group include BrightSpire Capital, Inc., Chimera Investment Corporation, HA Sustainable Infra. Cap., Inc., Ladder Capital Corp. and MFA Financial, Inc., among others. The additional disclosed peer group names EFC, NRZ and WMC.
What is Two Harbors Investment Corp.'s chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2024 is 90.2:1, against median employee compensation of $64,142.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Greenberg
President and Chief Executive Officer
◇—◇—◇——◇
Nicholas Letica
Vice President and Chief Investment Officer
◇—◇—◇——◇
Rebecca Sandberg
Vice President, Chief Legal Officer and Secretary
◇—◇—◇——◇
Robert Rush
Vice President and Chief Risk Officer
◇—◇—◇——◇
Mary Riskey
Former Vice President and Chief Financial Officer
Departed during or after this year
◇—◇—◇——◇
William Dellal
Vice President and Interim Chief Financial Officer
◇◇—————◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2024
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Mary RiskeyRSU◇——◇——◇
Mary RiskeyPSU◇◇◇—◇—◇
Nicholas LeticaRSU◇——◇——◇
Nicholas LeticaPSU◇◇◇—◇—◇
Rebecca B. SandbergRSU◇——◇——◇
Rebecca B. SandbergPSU◇◇◇—◇—◇
Robert RushRSU◇——◇——◇
Robert RushPSU◇◇◇—◇—◇
William GreenbergRSU◇——◇——◇
William GreenbergPSU◇◇◇—◇—◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2024 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Mary RiskeyRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Robert RushRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Rebecca SandbergRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
William GreenbergRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Nicholas LeticaRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2024
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Stephen G. Kasnet
◇◇————◇
Hope B. Woodhouse
◇◇————◇
James J. Bender
◇◇————◇
E. Spencer Abraham
◇◇————◇
Karen Hammond
◇◇————◇
W. Reid Sanders
◇◇————◇
James A. Stern
◇◇————◇
Sanjiv Das
◇◇————◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Board chair premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as Restricted Stock Units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2024
  • AGNC Investment Corp. AGNC
  • Annaly Capital Management, Inc. NLY
  • Armour Residential REIT, Inc. ARR
  • Cherry Hill Mortgage Investment Corp. CHMI
  • Dynex Capital, Inc. DX
  • Ellington Residential Mortgage REIT EARN
  • Invesco Mortgage Capital Inc. IVR
  • Orchid Island Capital Inc. ORC
  • PennyMac Mortgage Investment Trust PMT
  • Rithm Capital Corp. RITM
Executive Compensation Peer Group
  • BrightSpire Capital, Inc. BRSP
  • Chimera Investment Corporation CIM
  • HA Sustainable Infra. Cap., Inc. symbol not shown
  • Ladder Capital Corp. LADR
  • MFA Financial, Inc. MFA
  • New York Mortgage Trust, Inc. STWD
  • PennyMac Financial Services, Inc. PFSI
  • Redwood Trust, Inc. RWT
Additional disclosed peer group
  • EFC EFC
  • NRZ NRZ
  • WMC symbol not shown

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2024May 14, 2025=◇◇◇
2023May 15, 2024=◇◇◇
2022May 17, 2023=◇◇◇
2021May 18, 2022=◇◇◇
2020May 19, 2021=◇◇◇
2019May 21, 2020=◇◇◇
2018May 16, 2019=◇◇◇
2017May 17, 2018=◇◇◇
2016May 17, 2017=◇◇◇
2015May 19, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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- William Greenberg (President and Chief Executive Officer), FY2024 total compensation $5,785,279 (base salary $919,038) [exec_comp, SEC accession 0001465740-25-000090, filed 2025-04-02]

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What this page does not include

Everything above is a fact Two Harbors Investment Corp. disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Two Harbors Investment Corp. sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
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What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
196 figures on this page: 186 cited to the filing that reported them, 10 calculated from figures it prints.
186 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001465740-25-000113
    Proposal 2 - Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
  2. 0001465740-25-000090
    Director Compensation · Grants of Plan-Based Awards for Fiscal Year · Outstanding Equity Awards at Fiscal Year-End for · Pay Ratio · and 1 more section
  3. 0001465740-24-000118
    Proposal 2 — Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
  4. 0001104659-23-061836
    Proposal 2 — Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
  5. 0001104659-22-062450
    Proposal 2 — Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
  6. 0001104659-21-069352
    Proposal 2 — Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
  7. 0001465740-20-000073
    Proposal 2 - Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
  8. 0001465740-19-000055
    Proposal 2 - Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
  9. 0001104659-18-034822
    Proposal 2 — Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
  10. 0001465740-17-000055
    Proposal 2 - Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
  11. 0001104659-16-122362
    Proposal 2 — Advisory Vote Relating to Executive Compensation Stockholders approved the advisory resolution on the Company’s executive compensation.
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Velarion, “Two Harbors Investment Corp. executive compensation, FY2024.” https://intel.velarion.ai/comp/TWO (accessed 2026).
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The Two Harbors Investment Corp. brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
11 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Real Estate rankings

Chief executive pay — Real EstateCEO pay ratio — Real EstateSay-on-pay support — Real Estate

Peers Two Harbors Investment Corp. discloses

The companies named in TWO's own disclosed peer group.

AGNC Investment Corp.Annaly Capital Management, Inc.Armour Residential REIT, Inc.Cherry Hill Mortgage Investment Corp.Dynex Capital, Inc.Ellington Residential Mortgage REITOrchid Island Capital Inc.PennyMac Mortgage Investment TrustRithm Capital Corp.BrightSpire Capital, Inc.Chimera Investment CorporationLadder Capital Corp.MFA Financial, Inc.New York Mortgage Trust, Inc.PennyMac Financial Services, Inc.Redwood Trust, Inc.EFC

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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