Matthew Jozoff
About Matthew Jozoff
Independent director since 2022 (age 59), with deep fixed income, securitized products, and mortgage research credentials. Currently Co-CEO, Portfolio Manager and Partner at Trevally Capital; prior roles include Managing Director at Radkl (2021–2023) and senior research leadership at J.P. Morgan, plus mortgage strategy roles at Goldman Sachs and Lehman Brothers. Education: BA from Princeton University and MBA from the University of Pennsylvania . The Board has affirmatively determined he is independent under NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Trevally Capital | Co-Chief Executive Officer, Portfolio Manager, Partner | Current | Asset management and advisory expertise leveraged at MITT |
| Radkl | Managing Director (quant trading in digital assets/crypto) | 2021–2023 | Quant trading/market microstructure experience |
| J.P. Morgan Chase & Co. | MD & Co-Head of FICC & Index Research; Head of Rates & Securitized Products Research; Head of Mortgage/Securitized Products Research | 2019–2021; 2013–2019; 2006–2013 | Led research across rates/securitized products; mortgage research leadership |
| Goldman Sachs & Co. | Vice President, Head of Mortgage Strategy | 1997–2006 | Mortgage strategy leadership |
| Lehman Brothers | Mortgage Research | 1991–1997 | Early mortgage research career |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Trevally Capital | Co-CEO, Portfolio Manager, Partner | Current | Asset management/advisory firm |
| Radkl | Managing Director | 2021–2023 | Quant crypto/digital assets trading |
| Public company boards | — | — | No other public company directorships disclosed for Jozoff |
Board Governance
- Independence: Board determined Jozoff meets NYSE independence criteria; serves on fully independent committees .
- Tenure: Independent director since 2022; Board refresh average tenure 4.2 years .
- Committee assignments:
- 2024: Audit (Member); Compensation (Member) .
- Effective May 5, 2025 (subject to election): Compensation (Member); Nominating & Corporate Governance (Member) .
- Attendance and engagement: Board held 12 meetings in 2024; each director attended at least 75% of board and committee meetings. Independent directors meet in executive session at least quarterly; Non-Executive Chair Debra Hess presided over sessions .
- Committee meetings held in 2024: Audit 4; Compensation 4; Nominating & Corporate Governance 4 .
| Committee | 2024 Membership (Jozoff) | 2024 Meetings | Post-Annual Mtg (May 5, 2025) |
|---|---|---|---|
| Audit | Member | 4 | — (not listed) |
| Compensation | Member | 4 | Member |
| Nominating & Corporate Governance | — | 4 | Member |
Fixed Compensation
| Component | Amount | Details |
|---|---|---|
| Annual cash fees | $70,007 | Portion of $150,000 base fee paid in cash (quarterly), plus minor cash in lieu of fractional shares |
| Annual equity (restricted stock) | $79,993 | Portion of $150,000 base fee paid in restricted common stock (quarterly) |
| Total director comp (2024) | $150,000 | Standard non-employee director package; no chair fees for Jozoff |
Additional director pay policy:
- Base fee: $150,000, split $70,000 cash / $80,000 restricted stock; paid quarterly in arrears; restricted shares cannot be sold/transferred during Board service .
- Chair fees: Audit Chair +$25,000; Compensation Chair +$10,000; Nominating & Corporate Governance Chair +$10,000 (not applicable to Jozoff in 2024) .
Performance Compensation
- Director compensation is not performance-based; equity for directors is restricted common stock granted quarterly with transfer restrictions during tenure .
- The 2025 Equity Incentive Plan permits time- and performance-based RSUs/SARs broadly, but no director-specific performance metrics are disclosed for Jozoff .
| Metric Type | Applicability to Jozoff (Director) | Notes |
|---|---|---|
| RSU performance vesting | Not disclosed/applicable | Director equity is quarterly restricted stock; plan authorizes RSUs with performance conditions generally |
| Option awards | Not disclosed | Plan allows options; no director options disclosed for 2024 |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlocks/Conflicts |
|---|---|---|---|
| None disclosed | — | — | No related-party or interlocks disclosed involving Jozoff |
- Compensation Committee Interlocks: Committee consists solely of independent directors (including Jozoff); no interlocks or insider participation disclosed for 2024 .
Expertise & Qualifications
- Domain expertise: Mortgage origination, securitized products, rates and fixed income research .
- Financial literacy: Audit Committee membership; Board notes audit committee members must be financially literate (committee description) .
- Education: BA (Princeton); MBA (University of Pennsylvania) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Matthew Jozoff | 73,980 | <1%* | As of March 11, 2025; address c/o MITT |
- Ownership guidelines: Directors must hold shares equal to 4x basic annual cash retainer within 4 years; all directors are in compliance or within grace period .
- Pledging/hedging: Prohibited for directors and executive officers; no pledging/hedging by Jozoff disclosed .
Governance Assessment
Strengths
- Clear independence determination; service on key oversight committees (Audit previously; Compensation currently), supporting board effectiveness .
- Strong mortgage/fixed-income research background enhances oversight of an externally managed residential mortgage REIT .
- Regular executive sessions of independent directors; locked-up director equity during tenure; robust stock ownership guidelines; anti-pledging/hedging policy reinforcing alignment .
Watch items
- Externally managed structure with management and affiliated transactions requires vigilant independent director oversight; policies for affiliated/related transactions are in place but demand ongoing monitoring .
- No compensation consultant used for director pay in 2024—while not inherently problematic, investors may monitor for pay benchmarking quality over time .
Conflicts/Related-Party Exposure
- No Jozoff-specific related-party transactions disclosed. Company maintains formal Related Person and Affiliated Transactions policies, with quarterly Audit Committee review of affiliate dealings .
Attendance/Engagement Signal
- Board met 12 times in 2024; all directors met at least 75% attendance thresholds; committees met 4 times each—indicative of active oversight cadence .
Red flags
- None disclosed specific to Jozoff: no low attendance, pledging/hedging, or related-party transactions; committee interlocks not present .
Notes on insider trades
- Form 4 transactions for Jozoff were not disclosed in the proxy statement and are not summarized here. If needed, we can retrieve recent Form 4s and holdings to assess transaction patterns.