Anthony Rossiello
About Anthony Rossiello
Anthony W. Rossiello is Chief Financial Officer and Treasurer of AG Mortgage Investment Trust, Inc. (MITT), serving as Principal Financial and Accounting Officer; he joined TPG Angelo Gordon’s finance team in 2020 and was appointed MITT CFO effective January 1, 2021. He is age 37, holds a B.S. in Accounting from SUNY Albany, and is a Certified Public Accountant, with prior experience as a Senior Manager in Ernst & Young’s Banking and Capital Markets practice focusing on mortgage REITs and mortgage originators/servicers . MITT reported net income of $55.7 million in 2024 versus $53.8 million in 2023, and disclosed cumulative total shareholder return rising from 35.6% to 58.7% over the measurement interval, reflecting improved performance during the period spanning his ongoing tenure as CFO .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AG Mortgage Investment Trust, Inc. | Controller; Interim Principal Accounting Officer | 2020 | Stabilized accounting leadership during transition; prepared for CFO role |
| TPG Angelo Gordon | Managing Director; Finance team; appointed MITT CFO/Treasurer | Effective Jan 2021–present | Provides externally managed finance leadership and oversight to MITT |
| Ernst & Young LLP | Senior Manager, Banking & Capital Markets | Prior to 2020 | Led audits/advisory for public banking/mortgage REIT clients; industry depth |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| TPG Angelo Gordon | Managing Director | Effective Jan 2021 | Employer of MITT’s executive officers under external management model |
Fixed Compensation
- MITT does not pay or accrue salary or cash bonuses to its named executive officers; executives are compensated by the external Manager or its affiliates. The company reiterates that it did not pay any compensation of any kind to NEOs in 2024 other than equity grants and does not intend to pay cash compensation to NEOs .
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus ($) |
|---|---|---|---|
| 2024 | $0 | N/A | $0 |
| 2023 | $0 | N/A | $0 |
Performance Compensation
- The Compensation Committee approved 2024 equity grants to align incentives and support retention; grants were based on subjective factors (company financial health, individual performance, risk management, strategic progress, stock performance, retention, market conditions) rather than fixed performance metrics/weights .
| Award Type | Committee Approval Date | Grant Date | Shares | Grant Date Fair Value ($) | Vesting Start | Vesting Terms |
|---|---|---|---|---|---|---|
| Restricted Stock (time-based) | 11/04/2024 | 12/18/2024 | 50,000 | $347,500 | Jan 13, 2026 | Ratable in three annual installments beginning on Jan 13, 2026 |
- Clawback policy: Effective Dec 1, 2023; applies to current/former executive officers; recovery of erroneously awarded incentive-based compensation upon an accounting restatement under SEC Rule 10D-1 and NYSE listing standards (misconduct not required) .
Equity Ownership & Alignment
- Executive ownership guidelines require CFOs to own at least 5,000 shares, with retention of granted shares until compliance; all executive officers subject to guidelines are currently compliant. Pledging and hedging of MITT securities are prohibited for directors and executive officers .
| Metric | 2022 | 2023 | 2025 |
|---|---|---|---|
| Beneficial Ownership (shares) | 33,334 | 63,334 | 113,334 |
| Ownership as % of Shares Outstanding | <1% | <1% | <1% |
| Outstanding Equity Awards (as of 12/31/2024) | Unvested Shares | Market Value ($) |
|---|---|---|
| Restricted Stock (2024 grant) | 50,000 | $332,500 (based on $6.65) |
- Options: None outstanding or exercisable for NEOs; no options vested in 2024 .
- Stock ownership compliance and restrictions: Minimum 5,000 shares for CFO; all covered executives in compliance; pledging and hedging prohibited .
Employment Terms
- Employment/contract status: MITT has no employment agreements with NEOs and is not obligated to make post-employment or severance payments to them; executives are employees of the external Manager (AG REIT Management/TPG Angelo Gordon) .
- Change-in-control and vesting: 2024 restricted stock fully vests upon (i) death/disability, (ii) “Qualifying Manager Termination,” and (iii) change in control unless the award is substituted/assumed by the surviving entity; if assumed, standard vesting continues . The 2025 Equity Incentive Plan provides double-trigger vesting upon change in control (full acceleration only if successor assumes awards and the participant is terminated without Cause within 18 months), and full acceleration if the successor does not assume awards .
- Insider trading policy: Adopted; governs directors/officers and affiliates; policy filed with 2024 Form 10-K as Exhibit 19.1 .
Investment Implications
- Alignment: Equity grants and ownership guidelines support alignment; Rossiello beneficial ownership has increased over time (33,334 in 2022 → 63,334 in 2023 → 113,334 in 2025), and pledging/hedging are prohibited, reducing misalignment risks .
- Retention: Unvested restricted shares and multi-year vesting beginning Jan 2026 provide retention hooks; acceleration is limited to specific events (death/disability, qualifying Manager termination, change in control with assumptions affecting vesting), indicating controlled forfeiture risk .
- Pay-for-performance: Company does not pay cash compensation; equity grants are subjectively tied to company health, strategic progress, stock performance, and retention factors. During recent periods, net income improved and TSR increased, consistent with the Committee’s rationale for time-based equity to retain key leaders under the external management model .
- Severance economics: No company severance or individual employment agreements for NEOs, lowering cash outflow risk in executive transitions; equity plan features guide treatment upon change-in-control or Manager termination scenarios .